Phoenix, January 31, 2026
A luxury condominium at The Camelback Residences has been listed for $5.15 million, marking one of the first notable resales at this upscale property. This listing emphasizes the dynamic nature of Phoenix’s high-end real estate market, highlighting the continued demand for luxury living spaces. The owner’s decision to sell due to a lifestyle change further illustrates the fluidity in the market, where personal circumstances create opportunities for discerning buyers. With strong interest in premium properties, the resale underlines Phoenix’s reputation as a desirable investment destination.
Phoenix’s Luxury Market Sees $5.15M Camelback Condo Resale
A recently completed condominium at The Camelback Residences, a premier luxury development near Camelback Mountain, has been listed for $5.15 million, marking one of the first resales at the exclusive property. This notable listing highlights the dynamic nature of Phoenix’s high-end real estate market and the continued interest in luxury living spaces within the region. The resale comes as the owner reportedly experienced a lifestyle change, underscoring the fluidity and opportunity present in a robust market.
Phoenix’s real estate landscape continues to evolve, reflecting strong economic fundamentals and an influx of new residents. The emergence of high-value resales like this Camelback Mountain condo speaks to the confidence in private investment and the discerning tastes of homebuyers who appreciate quality and prime location. This activity showcases the entrepreneurial spirit of developers who create such prestigious communities, contributing significantly to the local economy and reinforcing Phoenix’s reputation as a desirable place to live and invest.
The Allure of Luxury on Camelback Mountain
The $5.15 million listing for a condominium at The Camelback Residences signifies a notable event within Phoenix’s luxury real estate sector. This property is part of a development that offers modern condominium residences adjacent to The Phoenician and close to Camelback Mountain. These residences feature indoor-outdoor living, with some boasting private rooftop terraces offering 360-degree views of the valley and Camelback Mountain. The development, consisting of 60 luxury condominiums, was over 95% sold with construction completion and move-in late 2025.
Such high-value transactions demonstrate the persistent demand for premium properties in sought-after locations. The decision by an owner of a just-finished condominium to list the property for resale due to a lifestyle change, rather than economic pressures, suggests a healthy and adaptable market where personal circumstances drive activity. This flexibility allows for new opportunities for discerning buyers seeking immediate entry into exclusive communities.
Fueling Phoenix AZ Business and Economic Growth
The development of luxury residences like those at Camelback Mountain significantly contributes to the broader Phoenix AZ business ecosystem. These projects represent substantial private investment, creating numerous jobs across the construction, design, and service industries. The economic ripple effect extends to local businesses, including high-end retail, dining establishments, and various professional services that cater to the residents of these upscale communities.
Arizona’s economy has seen robust growth, attracting over $105 billion in private-sector investment since 2020, with high-wage sectors like semiconductors, healthcare, and advanced manufacturing expanding in the Phoenix metro area. This economic vitality translates into increased purchasing power among affluent professionals, driving demand for luxury homes. Furthermore, the property taxes generated from these high-value properties contribute to local public services and infrastructure, benefiting the entire community.
Arizona AZ Entrepreneurs and Market Resilience
The continued success of luxury developments and the fluidity of their resale market underscore the resilience and innovation of Arizona AZ entrepreneurs in the real estate sector. Despite some national markets experiencing softness, Phoenix’s luxury segment continues to stand out due to strong buyer demand. In Q1 and Q2 2025, luxury home listings in Phoenix collectively surged by 32%. This strong demand is backed by the region’s lifestyle appeal, migration trends, and solid economic fundamentals.
The market for luxury homes priced at $2 million or more saw a 17.1% increase in dollar volume, demonstrating a robust high-end sector. Savvy buyers and sellers are navigating a market that, while adjusting to higher borrowing costs, still presents opportunities for those with a strategic approach. Cash transactions remain prevalent among high-net-worth buyers, enabling faster and more flexible deal execution.
A Beacon for Phoenix Economic Growth
Phoenix’s appeal to high-net-worth individuals and companies is a significant driver of Phoenix economic growth. The state’s business-friendly climate, including no corporate franchise tax, no tax on business inventory, and a relatively low corporate income tax rate of 4.9%, makes it an attractive destination for investment and relocation. Arizona has also become a top destination for remote workers and high-income individuals relocating from other states.
These factors lead to a continuous influx of talent and capital, further stimulating the demand for high-end properties and supporting local businesses. The luxury housing market, while a niche, acts as an important indicator of the overall economic health and desirability of the region. Developments in areas like Arcadia, Biltmore, Paradise Valley, and North Scottsdale are seeing renewed interest from buyers who prioritize quality of life and proximity to the city’s amenities.
Cultivating Opportunity: The Environment for Phoenix Small Business and Development
A supportive environment for development, characterized by clear and efficient processes, is crucial for fostering both large-scale luxury projects and the growth of Phoenix small business. While Phoenix’s development environment involves navigating municipal codes and environmental considerations, a framework that encourages investment helps streamline the path for innovative projects.
This approach benefits entrepreneurs who aim to create communities that enhance the city’s appeal and generate economic activity. When regulations are transparent and predictable, developers can plan with greater certainty, leading to more efficient construction and timely delivery of new homes and commercial spaces. This stability, in turn, supports the myriad small businesses that supply materials, provide services, and employ local residents, contributing to a vibrant and prosperous Phoenix.
Conclusion
The resale of a $5.15 million condominium at The Camelback Residences highlights the enduring strength and dynamism of Phoenix’s luxury real estate market. This transaction is a testament to the city’s robust economic landscape, fueled by entrepreneurial innovation and significant private investment. The demand for high-end properties, driven by sustained population growth, a business-friendly environment, and a desirable lifestyle, continues to position Phoenix as a premier destination for both residents and investors. As Phoenix AZ business thrives and Arizona AZ entrepreneurs continue to innovate, the city’s economic future appears bright. We encourage our readers to support local businesses and remain engaged in the ongoing growth and evolution of Phoenix’s vibrant economy.
Frequently Asked Questions
What is the listed price of the Camelback Mountain condo?
The Camelback Mountain condo is listed for $5.15 million.
Where is The Camelback Residences luxury development located?
The Camelback Residences luxury development is located near Camelback Mountain, adjacent to The Phoenician.
What features do the condominiums at The Camelback Residences offer?
The condominiums at The Camelback Residences feature modern designs, seamless indoor-outdoor living, and some include private rooftop terraces with 360-degree views of the valley and Camelback Mountain.
What is the current state of Phoenix’s luxury real estate market?
Phoenix’s luxury real estate market is experiencing strong buyer demand and significant growth, with luxury home listings in Phoenix collectively surging by 32% in Q1 and Q2 2025.
What factors contribute to Phoenix’s strong economic growth?
Phoenix’s strong economic growth is driven by private-sector investment, high-wage job creation in sectors like semiconductors and healthcare, a business-friendly climate with favorable tax policies, and an influx of new residents and remote workers.
Key Features of the Camelback Residences Condo and Phoenix Luxury Market
| Feature | Details |
|---|---|
| Listed Price | $5.15 million |
| Location | Near Camelback Mountain, adjacent to The Phoenician (Scottsdale, AZ) |
| Development Type | Luxury Condominium (part of Ascent’s newest release of 60 condominiums) |
| Resale Status | Among the first wave of resales at the development |
| Owner’s Reason for Listing | Lifestyle change |
| Market Trend (Phoenix Luxury) | Strong buyer demand; 32% collective surge in luxury home listings in Q1 and Q2 2025 |
| Economic Context (State-level) | Arizona attracted over $105 billion in private-sector investment since 2020 |
| Tax Environment (State-level) | No corporate franchise tax, no tax on business inventory, 4.9% corporate income tax rate |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
