A Scottsdale spec estate has sold for $28.1 million, becoming the most expensive home sale ever recorded in Arizona, according to the listing agent, Darren Tackett of Re/Max Fine Properties.
The roughly 4.5-acre property, developed by Mast Luxury Homes, was listed in February for $29.5 million. It went into contract about a month later, according to Mr. Tackett.
The buyer’s agent was Laura Briggs of Russ Lyon Sotheby’s International Realty. Ms. Briggs didn’t disclose the identity of the buyer, but said the purchaser was international. Scottsdale has seen an increase in demand from international buyers over the past few years, she said.
Known as “Altitude,” the recently completed property is located in the Silverleaf gated community, Mr. Tackett said. It sits on a peak in the McDowell Mountains, with views of the mountains and the cities of Scottsdale and Phoenix, he said.
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Michael Matzek, co-owner of Mast Luxury Homes, said he bought the property in 2016 for $5 million. “Inventory is limited in the luxury market right now so we hoped ‘Altitude’ would be well-received, and given the relatively quick sale, those thoughts were confirmed,” he said.
The previous record was set by a $24.1 million Scottsdale sale in 2020.
Altitude contains a roughly 17,000-square-foot, five-bedroom main home, plus two guesthouses and a 12-car garage. Amenities include a theater room, two fitness rooms, two elevators and a poker room that can also be used as a cigar room, Mr. Tackett said. Outside, a large fire pit sits at the edge of the pool.
The property took about four and a half years to complete, Mr. Tackett said, and saw strong interest once it hit the market. He said the local luxury market has remained active despite rising interest rates.
The house sits on a peak in the McDowell Mountains.
Jessica Peterson
“The luxury market has not really seen much of a slowdown, from what I can tell,” Mr. Tackett said, pointing to low inventory paired with strong demand.
Scottsdale saw a 51% drop in the number of homes for sale between April 2021 and March 2022 compared with the same period of the previous year, according to Realtor.com. News Corp, parent of The Wall Street Journal, operates Realtor.com.
