10/07/2026
A Paradise Valley house marketed outright as a teardown just sold for $5.15M.
The buyer wasn't paying for the 6,101 sq ft house. They were paying for the dirt: a prime Paradise Valley homesite.
Teardown sales isolate land value cleanly. It's the same logic behind date-of-death and trust appraisals, where the land is often the whole assignment. The same week's priciest-sales list also had a $5.4M off-market north Scottsdale sale, straight out of a family trust.
Metro Phoenix is now in extreme buyer's-market territory. True market value matters more than the number anyone hopes for.
Censeo Valuation Consultants
censeovc.com | 480-540-5151