ARIZONA NEWS

$18.8 million home is latest Arizona record holder as top-end prices soar

May 14, 2018, 11:17 AM | Updated: 3:37 pm

This Scottsdale mansion sold for a state record $17.5 million in March 2018, but that price was ecl...

This Scottsdale mansion sold for a state record $17.5 million in March 2018, but that price was eclipsed by the end of the month. (Realtor.com Photo)

(Realtor.com Photo)

PHOENIX – There doesn’t seem to be a shortage of high-end home buyers in Arizona, as the state-record price for a residence was broken three times in a span of three months.

The new king of the hill is located in Scottsdale’s Silverleaf neighborhood and sold for a whopping $18.8 million at the end of March.

That broke the record set when an 18,000-square-foot Silverleaf home went for $17.5 million just weeks earlier.

In December 2017, a 14,200-square-foot Paradise Valley residence took the top spot when it sold for a mere $15.65 million.

According to Realtor.com, the new record holder is a 16,602-square-foot palace built on 29.8 acres 2009. It originally cost just under $3.8 million.

The record price came to $1,132 per square foot. According to Zillow.com, the median list price per square foot in the Phoenix area is $154, and it’s $247 in Scottsdale.

Other details on the property at 19154 N. 107th St. are scarce because it never was listed publicly. The buyer, according to the Maricopa County Assessor’s Office website, was Rimrock Properties LLC.

Another property for sale could challenge the record price. A Paradise Valley home is currently listed at $18.5 million.

That residence originally went on the market in April 2017 for a mind-numbing $27.5 million, but it was reduced to just under $20 million in January and then to the current asking price on May 1.

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$18.8 million home is latest Arizona record holder as top-end prices soar