Celebs and PV; What’s the Connection?
By Lauren Wong
The small Arizona Suburb, Paradise Valley, has had a major increase in out-of-state buyers since the Pandemic. Housing prices have basically doubled over the past few years.
When the pandemic hit, it forced many people to switch up their work life, from going to the office, to working completely from home. The beautiful Arizona weather and low taxes has always been a major pull for people moving into the area for years. Now, with its private, spacious lots, Paradise Valley has made its name on the map, pulling in celebrities. It’s close enough from both Scottsdale and Phoenix, while offering a sense of secrecy, nestled up within the mountains.
According to realtor.com, the median home price is around $4 million. Alicia Keys, Michael Phelps, Alice Cooper, Muhammad Ali, Charles Barkley, Emma Stone, and Mike Tyson are just a few of celebirties that’ve purchased property in Paradise Valley.
In 2021, Paradise Valley ranked #50 in the top priciest zip codes in the U.S. Median home sale prices, (not listing prices), are what make up this data.
Anyone looking to purchase a luxury home as an investment should 100% consider this small Arizona suburb when house hunting. By purchasing in this town made up of about 15,000 residents, you’ll drop the worry of hurricanes on the East Coast, and wildfires and earthquakes in the West Coast.
Additionally, a lot of high-profile investors have been putting their money into Arizona. Bill Gates has invested $80 million in real estate in the Belmont/Western Metro Phoenix area, located near the White Tank Mountains.
According to the World Population Review, Paradise Valley is growing at a rate of 1.22% annually, its population increasing 18.46% since the most recent census in 2010.
A land full of sunshine, golf courses, and all things luxury, it’s no wonder so many celebrities are flocking to the area. Who knows, keep your eyes out as you gaze up into those mountain mansions, you may spot one of your favorite singers, actors/actresses, athletes, etc.
If you love browsing Zillow as if you’re a millionaire looking for your newest multi-million dollar property (like me), say you’re looking for a home in PV and soak in the luxury from behind the screen. (My personal favorite is going for a nice $12 million. It’s always the pool that gets me).