According to Bisnow, Scottsdale condo development Sage, which is currently in its final phase, is nearing a sellout. That’s significant because this was one of the first condo projects that started following the recession, and its success is a sign that the market is officially back to a healthy place.

The developer iStar told Bisnow that the development has earned nearly $40 million based on condo sales so far. That includes the first phase, which consisted of 50 units that all sold in 2012. This latest phase included 72 two- and three-bedroom condos, only one of which still remain available.

Your last chance to buy a new home in Sage is a 1,659 square-foot, three-bedroom, two-bathroom unit that includes two parking spaces. It’ll run you $615,000.

iStar executive vice president David Sotolov told Bisnow that almost half of the buyers closed all cash. A large base of affluent buyers looking for urban housing in the Phoenix area is finding options such as Sage very appealing. 

iStar is striking while the iron is hot as they’re preparing to launch Artesia, another Scottsdale condo community. The 500-unit development will include condos that range from 1,250 to 3,750 square feet and start at prices from $400,000 to $1 million.