The Hotel Valley Ho has completed its first condos as well as the residential tower. The Valley Ho’s 37 condos have been sold. Among the remaining condos are 1,800-square-foot penthouses, priced at $1.5 million. Some other projects in the first wave of what is expected to be 2,000 new downtown condos will welcome their first tenants during the next few months. Optima Camelview’s first residents will move in by September. Spokeswoman Jennifer Ziegler said about 535 of 700 condos have been sold. Steel framing was to start last month on the second phase. The first occupants of the 13-story Scottsdale Waterfront Residences will move in by January. Meanwhile, the steel framing of the second residential tower on this project is nearly complete, with move-ins scheduled for the second quarter of 2007. Developer Alan Farris said Main Street Plaza will turn on the lights and air-conditioning for its first residents in August. Construction of a second phase will start later this year, he said. While builders add finishing touches to new condos, Scottsdale’s resale condo market has seen sales dip 18 percent from May to June. The median sales price last month was $264,750, up 1.2 percent from May but down 7 percent from February, according to the Arizona Real Estate Center at Arizona State University. Valley-wide sales of existing condos were off 30 percent from May to June, and the price dipped 0.2 percent. Local buyers, squeezed out of the single-family home market, had shifted to condos and condo conversions. But many of those doors closed to them when prices shot past $200,000 for dolled-up apartments, some of them older than the 20-something buyers.