We recently hosted an event for past clients, and nearly every one of them asked us the same question: how's the market right now? It's a great question, and for luxury condos the answer is more interesting than it's been in years. So if you own a luxury condo in Scottsdale, Paradise Valley or Phoenix, or you're thinking about buying one, here's what we're seeing, along with some data we think you'll find helpful.
The short version: buyers have gained the upper hand in Scottsdale and Paradise Valley over the past six months, while Phoenix has stayed steady. Homes are taking longer to sell and there's more negotiating, but prices have largely held. That's good news on both sides. Buyers have more choice than they've had in years, and sellers who price and present their homes well are still getting strong results.
Key takeaways
- Scottsdale and Paradise Valley are buyer's markets, with 11.7 and 16.0 months of luxury condo inventory.
- Prices have largely held. Scottsdale's median sale price is up 2.2% from a year ago, and Phoenix is up 14.1%.
- Sales are taking longer and negotiation is back, often through seller concessions rather than lower prices.
- November through March is peak season, so now is the time for sellers to get ready.
- Well-designed residences still shine. At Enclave at Borgata, two-bedroom plans held their value best.
Is it a buyer's market for luxury condos in Scottsdale and Paradise Valley?
Yes, it is. Scottsdale has 11.7 months of luxury condo inventory and Paradise Valley has 16.0 months. For context, about six months is generally considered a balanced market, so both are well into buyer's territory. Phoenix, at 6.3 months, is close to balanced. (For this look at the market, "luxury condominiums" means condos, lofts and apartment-style residences listed at $1 million or more.)
| April – October 2026 | Scottsdale | Paradise Valley | Phoenix |
|---|---|---|---|
| Months of inventory | 11.7 | 16.0 | 6.3 |
| Closed sales | 58 | 6 | 23 |
| Median sale price | $1,874,500 | $2,150,000 | $1,425,000 |
| Median days on market | 97 | 199 | 98 |
| Sale price as % of list | 98.9% | 98.9% | 98.0% |
| Closings with seller concessions | 13.8% | 33.3% | 4.4% |
| Active listings with a price reduction | 22.1% | 43.8% | 41.7% |
What's happening in Scottsdale?
In Scottsdale, luxury condos are taking a little longer to sell, and sellers are more open to negotiating. Median days on market went from 65 to 97 compared with the prior six months. The share of sales with seller concessions jumped from 3.7% to 13.8%, averaging about $59,400 per sale.
Here's what we find interesting: sale prices are still landing close to list, at 98.9%. Instead of cutting the price, many sellers are negotiating through concessions, like credits toward closing costs or repairs. About 22% of active listings have reduced their price, by an average of 5.7%.
You may hear that Scottsdale's median price of $1,874,500 is down from the prior six months, but that's mostly the calendar talking. The earlier period included the busy winter months, when the highest-priced sales tend to close. Compared with the same time last year, the median is actually up 2.2%. So prices have held steady. What's changed is how long sales take and how much sellers are willing to give.
What's happening in Paradise Valley?
Paradise Valley is moving at the slowest pace of the three. Median days on market climbed to 199, which is more than six months, and 43.8% of active condo listings have reduced their price, by an average of 11.5%, or about $374,600. A third of recent sales included seller concessions.
Keep in mind that Paradise Valley is a small condo market, with just six sales over the past six months, so a single sale can move the numbers quite a bit. Still, the picture is clear: buyers have time and choices, and listings priced above the market are waiting.
Why is Phoenix holding up better?
Phoenix's luxury condo market is tighter, with 6.3 months of inventory. Sales held steady at 23, compared with 22 in the prior six months, and the median price rose to $1,425,000. That's up 7.6% from the prior six months and 14.1% from a year ago. Seller concessions also became less common, falling from 13.6% of sales to 4.4%.
That said, 41.7% of active Phoenix listings have taken a price reduction, averaging 14.8%, which tells us many sellers started too high. Homes priced right are selling. The ones that aren't are adjusting.
When is the best time to sell a luxury condo?
In the Valley, the strongest season for luxury condo sales runs from November through March. In Scottsdale, closings peaked at 30 in December and 36 in January, compared with 8 to 14 a month over the summer. Prices follow the same rhythm, with the highest medians in winter.
With the season just about to start, this is the moment to get ready. Sellers who prepare now, with accurate pricing, great photography and complete information about the building and HOA, will be in front of the biggest pool of buyers all year.
A closer look: Enclave at Borgata
We know Enclave at Borgata well. It's the condominium community on Scottsdale Road where we led sales development (see our luxury condominium guide), and it's a good example of how a well-built community is performing in this market. Ten residences sold between November 2025 and September 2026, for a combined $15.84 million. The median sale price was $1,567,500, and the average was $753 per square foot.
Residences took a median of 106 days to sell and closed at 96.6% of list price, which lines up with the slower, more negotiated market across the area. Two-bedroom residences held their value best, averaging $817 per square foot, compared with $607 for one-bedrooms and $743 for the largest three- and four-bedroom plans.
| Floor plan | Size | Average sale price | Avg. price per sq ft |
|---|---|---|---|
| One bedroom | 1,065 – 1,526 sq ft | $780,000 | $607 |
| Two bedroom | 1,717 – 1,957 sq ft | $1,512,000 | $817 |
| Three to four bedroom | 3,016 sq ft | $2,240,000 | $743 |
That doesn't surprise us. Two-bedroom plans appeal to the widest range of buyers: people who are downsizing, seasonal owners who want room for guests, and anyone who needs a home office. Even in a softer market, that broad appeal helps hold value.
What does this mean if you're selling?
- Price it right from day one. The listings that started high are the ones cutting their prices later, often by 10% or more.
- Expect some negotiation. Concessions and credits are part of the conversation right now, especially in Scottsdale and Paradise Valley.
- Make the most of the season. November through March brings the most buyers, so being ready early really pays off.
- Show off the building, not just the home. Buyers compare communities closely, so have clear information on HOA dues, reserves, amenities and rental policies ready to share.
What does this mean if you're buying?
- Take your time. With 11 to 16 months of inventory in Scottsdale and Paradise Valley, there's no need to rush.
- Look beyond the price. Concessions toward closing costs or updates can be just as valuable as a lower price.
- Keep an eye on listings that have been on the market longest. They often have the most room to negotiate.
- Do your homework on the building. Review HOA finances, reserves, any history of special assessments and how the building has held value before you commit.
The bottom line
Right now, the luxury condo market rewards buyers who are prepared and sellers who are well advised. Scottsdale and Paradise Valley give buyers more selection and negotiating room than they've had in several years, and Phoenix remains steady. Prices have largely held, and residences that are priced accurately and presented well continue to sell.
Of course, this is just a snapshot of where things stand as of October 2026. The market changes month to month, and often building to building. That's where experience really matters. We've spent years representing buyers and sellers in the Valley's best condominium communities, and we know these buildings: how they're run, which floor plans and views hold their value, and what buyers are willing to pay for. We keep a close eye on how things are shifting so our clients can make decisions with the most current market intelligence and get the best possible result.
Whether you're thinking about buying or selling a luxury condo in Scottsdale, Paradise Valley or Phoenix, or you're just curious what your residence is worth today, we'd love to share what we're seeing. Give us a call at 602.833.9080 or send us a message.
Sources: Real Talk analysis of ARMLS data for luxury condominiums (condos, lofts and apartment-style residences listed at $1,000,000 or more) in Scottsdale, Paradise Valley and Phoenix, April – October 2026, compared with October 2025 – April 2026 and April – October 2025. Enclave at Borgata: ARMLS closed sales, November 18, 2025 – September 30, 2026. Information is deemed reliable but not guaranteed.