x
Breaking News
More () »

$21M Paradise Valley home is the most expensive sold in Arizona

The 15,736 square-foot Tuscan-style home has seven bedrooms and 14 bathrooms.

PARADISE VALLEY, Ariz. — Arizona’s housing boom is leading to home prices soaring to unheard-of heights.

A Paradise Valley home was recently sold for $21 million, making it the most expensive house sold in the state, according to a real estate listing service.

What does $21 million get you?

The home, or mansion if you like, resides in the exclusive Cameldale neighborhood and sits on a 4.27-acre estate with stunning views of Camelback Mountain in nearly every direction.

The 15,736 square-foot Tuscan-style home has seven bedrooms and 14 bathrooms, a 4-car garage and a guesthouse with its own two bedrooms and bathrooms.

The sale beat a record set by another Paradise Valley home sold in 2020. Both homes were sold by Walt Danley Christie’s International Real Estate.

Credit: Walt Danley Christie’s International Real Estate

Meanwhile, prices for more middle-class homes have also soared and the trend isn’t slowing down.

Phoenix home sale prices are up more than 20% year-over-year, according to a March report from the Arizona Regional Multiple Listing Service.

The median sale price for a home in Phoenix reached $460,000 and is possible to increase to $475,000 by mid-May, the report said.

The report stated 3,918 newly built homes sold in the first quarter compared to 4,444 in the same time frame last year and newly built home sales in Maricopa County are down 11.87% year-over-year.

According to the Cromford Report, which analyzes the real estate market, demand is about 17% above normal for this time of year, while supply is down 75%.

Credit: Walt Danley Christie’s International Real Estate

Up to Speed

Catch up on the latest news and stories on the 12 News YouTube channel. Subscribe today.

RELATED: The first real estate summit to help investors, buyers acquire properties across borders is coming in May 19

RELATED: 'No one plans to be homeless': Arizona shelter service needs help meeting growing demand

Paid Advertisement