REAL ESTATE | RICH ZIPS

Paradise Valley is Home to America's Priciest Desert Real Estate

Millionaires from across the U.S. moved to the central Arizona town during the pandemic

By Jessica Flint | Photographs by Kelsey Hale for The Wall Street Journal
March 7, 2024
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In central Arizona, tucked between Phoenix and Scottsdale in the Sonoran Desert, is Paradise Valley, a roughly 15-square-mile town where palatial houses with varying architectural styles have big views of Camelback Mountain and the Phoenix Mountain Preserve. 

Millionaires from across the U.S. moved here during the Covid-19 pandemic—and have stayed. “It’s a different world here now,” says Cheryl Anderson, a real-estate agent with Russ Lyon Sotheby’s International Realty.

Residents appreciate the warm weather, low taxes and large lots—typically an acre or more—that offer privacy in nature within proximity to the U.S.’s fifth largest city.

Median listing price in the 85253 ZIP Code

$5.05 million

Notable stops and shops

Day-to-day life in Paradise Valley revolves around outdoor recreation—like golf, hiking and biking—and enjoying the amenities at the town’s many luxury resorts.

Lon’s at the Hermosa

Locals love the patio at this adobe-style restaurant at the Hermosa Inn, a boutique resort in a quiet residential neighborhood.

The menu is globally-inspired Arizona cuisine; the Himalayan salt-seared ahi tuna is especially popular.

The Short Course at Mountain Shadows Resort Scottsdale

Each hole on this public 18-hole course is a par three, with holes ranging from 75 to 200 yards.

There is also an extra par two betting hole where 40-yard putts and chips can settle a match. Rusty’s at the Short Course is the on-site grill and lounge.

Camelback Mountain

Hiking this mountain—which has a total elevation of 2,704 feet—is an iconic Arizona activity. Two difficult trails ascend to a summit that resembles the hump on a camel’s back. At the top, there are 360-degree city views.

The Spa at Camelback Inn

This 32,000-square-foot spa has 32 treatment rooms and all spa-related amenities, from whirlpools to a cold plunge. It’s at the JW Marriott Scottsdale Camelback Inn Resort & Spa.

El Chorro Lodge

This restaurant is a favorite for Sunday brunch, romantic dinners and celebrations.

Many favorite dishes have been served since 1937, including the beef stroganoff, flash fried lobster and sticky buns.

There are more than 200 golf courses in the Phoenix and Scottsdale area, and good golfers belong to golf clubs.

In Paradise Valley, golf clubs range from those that are private and members only, like the Paradise Valley Country Club, to the semiprivate, such as Camelback Golf Club, which is at the JW Marriott Scottsdale Camelback Inn and can be accessed by members, hotel guests and daily fee golfers.

Camelback Golf Club in Paradise Valley

Paradise Valley’s population

12,606

(according to the latest census data)

On the Market

“The average price per square foot is $900, but $2,000 per square foot isn’t uncommon,” Anderson says. “Nicer properties are $1,200 per square foot and up.” New construction prices drive the market, she says, but property values also depend on the view.

AZing Realty Media/Russ Lyon Sotheby's International Realty

N. 68th Street

$20 Million

5 bedrooms | 11 bathrooms
2.12 acres | 16,809 sq. ft.

AZing Realty Media/Russ Lyon Sotheby's International Realty

E. Upper Ridge Way

$19.95 Million

4 bedrooms | 7 bathrooms
3.45 acres | 7,989 sq. ft.

Jason Roehner

N. Ironwood Dr.

$19.95 million

6 bedrooms | 8 bathrooms
3.34 acres | 10,676 sq. ft.

Phil Johnson/ProVisuals Media

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Photo editor: Marcy Ayres

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