Two $30 Million Deals Closed on the Same Day in Metro Phoenix | What It Means for Buyers & Investors
Two $30 Million Deals Closed on the Same Day in Metro Phoenix
May 22nd, 2025 marked a rare moment in Metro Phoenix real estate history — two unrelated transactions, each closing for $30 million, occurred on the same day. One showcases the height of Arizona’s luxury market, while the other signals investor confidence in our region’s long-term growth.
🏆 Arizona’s Most Expensive Home Sale of the Year
In Paradise Valley, a 22,000-square-foot estate on over 9 acres between Mummy Mountain and Camelback Mountain closed for $30 million, making it the highest-priced residential sale in Arizona in 2025.
The property’s size, location, and privacy made it one of the most significant luxury transactions in state history — reinforcing Paradise Valley’s place at the top of the Arizona market.
🏘️ 107-Home Investment Portfolio Sold
In a very different type of deal, Lucas Properties (owned by the same family behind Lucas Oil) sold a portfolio of 107 homes they acquired during the last market downturn. The buyer, CTNGP Properties, is a new investment entity formed in April 2025 — likely betting on Phoenix’s rental demand and long-term appreciation.
💡 What It Means
While the luxury market continues to command record-setting prices, investors are still buying into the broader Phoenix housing market — despite high interest rates and mixed economic signals. Capital is still flowing, just in different forms.
🔻 Deals Worth Watching: Major Price Reductions
• Was: $18,888,888
• Now: $14,900,000
🎥 Watch the Video Tour
🏙️ Phoenix Penthouse
• Was: $550,000
• Now: $425,000
🎥 Watch the Short Video
🧭 Final Thought
Whether you’re in the market for a trophy property or an investment opportunity — understanding these market dynamics matters. If you want to talk strategy or explore options tailored to your goals:
Michael Hankerson
Hankerson Team | Luxury Division
602.770.7205 | [email protected]
🌐 HankersonTeam.com