Paradise Valley’s ultra-luxury market just served up one of its boldest price cuts of the year. A freshly built hillside estate on Camelback Mountain that once floated an ask in the low $20 millions is back on the market at $10 million, and the seller is reportedly tossing in a 2021 Lamborghini as part of the deal. The contemporary spread clocks in at just over 9,000 square feet and has quickly become a talking point in local real estate circles.
Price Cut And The Car
As first reported by Phoenix Business Journal, the property that initially hit the market at roughly $21 million has been re-listed at $10 million, with a 2021 Lamborghini advertised as part of the package. That report highlighted the listing notes and the sports car hook that now features in the home’s marketing. Local industry tracking shows the home first appearing on ARMLS with an asking price near $21 million last year, a figure cited in local coverage, and Phoenix Agent Magazine flagged that earlier entry among the area’s priciest listings.
Listing Details
The public MLS entry for 5002 E Valle Vista Way describes a roughly 9,068 square foot hillside estate with four bedrooms, seven bathrooms, an infinity-edge pool, a guest casita, an elevator and a three-car garage. Both Zillow and Trulia show the current $10 million asking price, along with a full photo gallery and broker remarks that lean heavily on the home’s Camelback Mountain perch and city-light views. Multiple agent and brokerage pages mirror those details, noting the recent completion date and playing up the indoor-outdoor layout.
Market Context
The deep discount lands in the middle of a busy stretch for Paradise Valley’s luxury scene, where several so-called trophy homes have hit or surpassed the $10 million mark this year. The Real Deal and local property roundups have tracked a string of multi-million-dollar closings that keep nudging the top of the market higher. Brokers quoted in local outlets say owners of new-build trophy properties often start with ambitious pricing, then adjust quickly once they see where real buyers are willing to play.
Price Per Square Foot…