Paradise Valley estate at the base of Camelback Mountain sells for $1M above asking price in 2 days

PHOENIX — In just two days, a massive Paradise Valley estate debuted on the market and was swiftly snapped up.

The five-bedroom, seven-bathroom property at the base of Camelback Mountain initially listed for $9.8 million, according to Russ Lyon Sotheby’s International Realty.

Multiple qualified buyers vied for the home, hiking the final selling price up to $10.8 million after two days on the market.

Mark Thomas, a global real estate advisor with the realty behind the sale, said the home is worth every penny.

“It’s amazing what happens when a beautiful home hits the market in one of the region’s most desirable locations at the correct price,” Thomas said in a Friday announcement. “It immediately attracted numerous qualified buyers and created the perfect scenario for our seller, closing over $1 million over (the) asking price.”

Where is the massive Paradise Valley estate located?

The home at 5241 E. Palo Verde Drive is 8,542 square feet.

The main residence, which is two stories high, has a living room and a gourmet kitchen.

The lower level has a large primary suite, three other spacious bedrooms and a private theater room.

There’s also a courtyard with a pool framed by mountain vistas, along with an additional separate building with an entertaining space, a kitchen and a private guest suite.

Shawna Perkins, the global real estate advisor for Russ Lyon Sotheby’s International Realty, said the home is a true statement of luxury.

“This resulting sales price reflects not just the home’s exceptional quality, but also the strength of our market when a property is positioned with intention,” Perkins said in the announcement.

Earlier this year, another mansion in Paradise Valley sold for a state record of $33.5 million.

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