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Why Are So Many Wealthy People Moving To Arizona’s Paradise Valley?

Arizona’s Most Affluent City

For those seeking to live the good life, Arizona’s community of Paradise Valley is where it’s at. Featuring large-acreage homesites, luxury homes in Paradise Valley are quite spectacular. With many residents enjoying a net worth of over $100 million, PV is becoming more and more popular. Why the big boom over the last few years?  For one thing, before the pandemic, most Paradise Valley homes for sale were purchased by local Arizonans. However, post pandemic, many of those purchasing properties in Paradise Valley have been from out of state. Even more importantly, they have been buying these homes as their PRIMARY RESIDENCES. Why? With the rise of the ability to run a corporation from anywhere in the world, even BILLIONAIRES are leaving New York and California.

Located between Phoenix and Scottsdale, Paradise Valley ranked as the 50th most expensive U.S. zip code in PropertyShark’s 2021 survey. In comparison, the area ranked 93rd in 2019. Home to many celebrities and many high profile execs, PV features golf courses and resorts such as Sanctuary Camelback Mountain. Many of the parcels of residential land are zoned for one acre or more. These are just SOME of the reasons the area has become so popular.

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Photo of Paradise Valley, Arizona.

Why Are So Many Wealthy People Moving To Arizona’s Paradise Valley?

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Formerly an area for productive farmland, back in the 1800s, surveyors from the Rio Grande game Paradise Valley its name. In order to preserve the charming lifestyle and values it offered, in 1961, residents sought for the town to be incorporated. Here we are several decades later, and PV has become the wealthiest are in all of Arizona. As a result, of its growing reputation, it is also straight up becoming one of the most affluent areas in all of America. When driving through it, one will witness very little commercial zoning and massive Paradise Valley mansions. Additionally, well under way is the multi-billion-dollar Ritz-Carlton, Paradise Valley. This resort is the first 5-star property in Greater Phoenix. Sitting next to the guard gated community of Azure, Ritz-Carlton, Paradise Valley is offering luxury villas and estate residences for sale. Lastly, located partly in PV and partly in Scottsdale, the resort will feature the finest shopping destination in Arizona. And that would be The Palmeraie.

Should you want to learn more about Paradise Valley, feel free to contact Williams Luxury Homes. We know PV well. And have DECADES of combined real estate experience to help you make a wise buying decision. Thanks for reading LUXE BLOG.

Also Read: Paradise Valley Luxury Home Listing Inventory Update

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