The Condo Mania Team
Scottsdale Condo ManiaNews > 4th Quarter 2014 Scottsdale Condo Sales - A Big Quarter
published on 2015-01-17 by Liz Suto
Just when the pundits were saying a slowdown was in the cards, Scottsdale condo prices showed a gain for the 4th quarter of 2014. For our quarterly Scottsdale Market Analysis reports, we compare the current quarter to the same quarter a year ago in order to make sure that there aren't any seasonality changes that would affect our statistics. All statistics are based on sales for condos, townhomes and lofts.
Scottsdale had a healthy increase in resale activity in the 4th quarter, with 512 sold compared to 456 in 2013. This represents an improvement of almost 12.3% over the same quarter the previous year.
Even though sales were strong in the fourth quarter, condos and townhomes stayed on the market for an average of 88 days, which is 15.8% more than the 76 during the 4th quarter in 2013.
Along with the strong volume, median condo prices increased from $201,750 during the 4th quarter in 2013, to $217,500 representing a 7.8% gain.
Average price per square foot had a good showing last quarter as well, at $183 per square foot, which shows an increase from $176 in the 4th quarter of 2013. The most expensive condo sold was a Landmark Penthouse, for $2,300,000, at $582 a square foot. 10 other condos sold for over a million.
Already for January, buyer turnout in Scottsdale has been strong. Of course, not all condos are moving as is shown by the increase in Days on Market. Pricing properly is still important, especially when there is plenty of inventory on the market, like at the Optima Camelview.
Contact us for more information on what's happening in your price point.
© 2015 ARMLS and FBS. All information deemed accurate but not guaranteed.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2024-04-23 05:14:18