Paradise Valley Weekly 263rd Edition - May 2, 2015 Luxury housing is reaching levels completely unimaginable just a few years ago. According to the Wall Street Journal, $40 million is now a "standard sum" in multiple markets.  Arizona's luxury market hasn't had the kind of stratospheric move that other parts of the US have seen. Paradise Valley is the most expensive town in the state, and yet 1/10th the price cited above buys a large, pristine estate with majestic views. Perhaps that gap will close someday, but for now, it certainly does seem as though Arizona remains a relative bargain -- most especially our luxury market. Unlike some of the other highly valued markets, Arizonans don't have much worry about major natural disasters. I'll take heavy rains and dust storms over hurricanes and earthquakes any day. *** This week's Truth In Advertising Award goes to 9001 N 48th Place: "Property needs maintenance and tons of updating." Can't say they didn't warn you... Asking price is $2 million. *** Closings Another very strong week of closings, with over $21 million total for the week.  The average sale price was also strong at over $2.6 million, with a range between $850k and $8.1 million.The weighted average year of construction was 1993, selling on average for $401 per square foot. Listings There are 14 new home listings this week, ranging from $895k to $3.5 million.  Just one home that I would recommend making an effort to see as soon as possible: Soft Contemporary at Camelback Mountain Excellent indoor/outdoor flow with 16 foot sliding glass doors, this home is ideal for entertaining. Dramatic views, architecture by Lee Hutchinson, and about 5,400 feet of interior space. Offered at $2.5 million --> Click here for details To see all of this week's new listings please click here. To see everything on the MLS in Paradise Valley please click here. That's all for this week, I'll be back next week with all the latest in Paradise Valley real estate. Thank you, Alex Goldstein iParadiseValley.com (480) 442-7325   (c) 2015 Alex Goldstein PLLC

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