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Paradise Valley home sells for $15M, most expensive sold in Arizona

(Photo/Joan Levinson)

PHOENIX — Paradise Valley is known for being — if nothing else — luxurious.

The Phoenix suburb boasts a median family income of $164,000, has been named as the most expensive zip code in Arizona and is home to multiple high-end resorts.

But now the town can add another luxurious accolade to its resume: A Paradise Valley home has just sold for $15,650,000, making it the most expensive home ever sold in Arizona.

Both the buyer and seller of the home at 7100 N. Mummy Mountain Rd. were recently represented by Joan Levinson, a self-described real estate expert.

Related: Two Phoenix-area homes sell for more than $7 million each

According to The Arizona Republic, the home was purchased by Steve Sanghi, the founder of the Chandler-based Microchip Technology. Sanghi reportedly paid for the home with cash.

The home was sold by Gary Knight, the vice chairman of Phoenix-based Knight Transportation. Knight bought the home in 2006 for just under $4 million and has appeared to have renovated and expanded it, according to the publication.

The 14,200-square-foot home lies on five acres of land and boasts full Camelback views, contemporary architecture and a large hillside lot, according to Levinson.

The home does not skimp on rooms, either: It has eight bedrooms and four bathrooms.

However, if you want to outdo Sanghi, there is a seven-bedroom, 12-bathroom home in Paradise Valley that is currently on the market for $19,995,000.

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