A property sale in a wealthy Phoenix suburb recently set a record for home price in that community.
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The luxurious Fountain Hills, Arizona home sold for $5.5 million. That beat the $5.4 million paid for another Fountain Hills property in June and was the highest ever in the same town, according to Russ Lyon Sotheby’s International Realty, the brokerage with the listing.
The 10,480-square-foot home includes five bedrooms and seven bathrooms, according to the brokers.
It’s located in the Eagles Nest, a gated hillside neighborhood bordering the McDowell Mountains park lands.
The 2016-built contemporary-style home features views of the surrounding mountains and city below from walls of windows. Inside, it features fine imported finishes like Brazilian teak ceilings and Italian basalt floors, according to the former listing.
There is also a bonus kitchen, a gym and a theater.
The outdoor space includes a rooftop deck, negative edge pool, spillover spa and fire places.
The property had previously been listed for as much as $9 million, according to Realtor.com. After several price drops, it was relisted for $6.5 million in April.
But the Fountain Hills market has had a surge of interest from luxury buyers even as the number COVID-19 cases in Maricopa County, where both Phoenix and Fountain Hills are located, lead the state, Mansion Global reported.
Zillow rated Fountain Hills as “very hot” as of this week. Its median home value estimate in the town was up 6.3 percent year-over-year.
“Everything is selling,” Tony Pellegrini, the listing agent, told Mansion Global. “It’s so hot we’re going through our old expired listings.”