The Latest News in the Arizona Luxury Real Estate Market

The Latest News in the Arizona Luxury Real Estate Market

The Arizona real estate market has been active this summer. Residential homes sales remain competitive, and real estate professionals are reporting impressive high-end property sales. Here is more on the latest news in the Arizona luxury real estate market.

Arizona Record Luxury Sale

According to a recent report, Arizona’s record for the highest residential sale recently closed in Scottsdale. The $24.1 million sale was in the North Scottsdale’s exclusive Silverleaf Community at D.C. Ranch.

Internationally renowned architect Bing Hu designed the lavish property. The vast eight-bedroom, ten-bath main estate was built in 2005 and spans 15,534-square-feet. The almost 17-acre property sits with a view of the McDowell Mountains and Windgate Pass and has multiple imported geodes throughout its expanse.  Inside the magnificent home, there are stunning design features, entertaining areas, a home theatre, an interior sport and basketball court, and luxury master suites. Outdoors there is a negative edge pool and expert water features, a 7,500 square foot guest house with individual apartments, and a yoga studio. There is also a pool house, arcade, game room, additional swimming pool, and sun deck.

According to the buyer’s agent, “The buyers were drawn to the timeless Montecito architecture, expansive view corridor and generous lot size that would allow them to enjoy many in-home amenities. It truly is a one-of-a-kind estate designed by world-renowned architect, Bing Hu, that rarely comes to market in Arizona and a legacy piece to be enjoyed for decades to come.”

Frank Lloyd Wright Home Sold in Arcadia

In August 2020, the home that famed architect Frank Lloyd Wright designed for his son David and daughter-in-law Gladys sold for $ 7.25 million in Phoenix’s Arcadia neighborhood. The David and Gladys Wright home was built in 1950 in Wright’s signature style. Five years before the sale, there had been discussion of tearing the property down or opening it for tours and events. However, the new owners plan to restore and preserve this historic property. The owners include renowned architect Bing Hu and businessman Jim Benson.  Their renovation plans reportedly include adding a copper roof, which was part of Wright’s original architectural plans. Both Hu and Benson are on the board the School of Architecture at Taliesin, started by Wright in 1932. According to a recent article, the owner listed the historic property $12.95 million in 2018, after a plan fell through to donate the house to the architecture school.  

The ‘Diamond House” Sale

The “Diamond House” is a 5,572-square-foot, five-bedroom, five-and-a-half bath luxury home located on Scottsdale Mountain at 12493 N 138th Place in North Scottsdale. The stunning luxury home was designed by AIA architect Gordon Rogers and built by Craig Eckart in 2010. Fitted with smart-home technology, the breathtaking property offers a modern design aesthetic. It features a retractable glass wall and an infinity pool with unparalleled views of the majestic Camelback Mountains and the Valley. The one-of-a-kind custom built home sold for $ 2.5 million.

Laura B. Bramnick is an Arizona real estate attorney with the knowledge and experience you need to protect your interests during every stage of your real estate matter. If you are seeking an exceptional, client-driven real estate lawyer in Scottsdale, Phoenix, Sedona, and throughout the State of Arizona, contact Laura B. Bramnick to schedule your consultation.

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