Paradise Valley Independent | April 2, 2026
Located in private enclave of Paradise Reserve
Luxury homeowners will pay a premium for hillside residences.
Case in point: A contemporary estate in the private enclave of Paradise Reserve overlooking the Phoenix Mountain Preserve recently set a record for resales, cashing in at $1,938 per square foot, and selling for $12.25 million.
Paradise Reserve is an exclusive, gated, and guarded luxury home community that features high-end custom residences built and developed by Cullum Homes.
The home is located in the city of Phoenix, but has a Paradise Valley address.
Chris Karas, co-founder of Compass and president of the Karas Group, oversaw the sale and said the record shows the continued demand for well-positioned properties in the local luxury market.
It is the definition of desert luxury living, with the convenience of location coupled with the pure serenity of the desert, he said.
“The high square footage is a testament to our market and where the growth is for Arizona,” he said.
The 6,318-square-foot home at 7050 N. 39th Place, was built in 2019 with four bedrooms and six bathrooms.
Karas said the lot is on the back part of a canyon above the preserve and each bedroom has mountain views.
Many buyers seeking luxury homes are after a combination of striking views, modern architecture and privacy, Karas said.
“Paradise Reserve has something home buyers have a hard time finding elsewhere,” Karas said. “Beyond an enviable hillside location, this home has contemporary features and finishes, a timeless design, and a sense of quiet and serenity that’s hard to come by in the Valley.”
The mountainsides in Paradise Valley have seen activity in recent years.
Hillside application submittals to the town doubled from 24 applications in 2022 to 49 in 2024.
In Paradise Valley, the Hillside Development Area is nearly 3 square miles, or about 20% of the town, largely made up of Camelback and Mummy mountains. About 1,000 parcels are designated as hillside in the town, vacant, built or otherwise.
Hillside Committee Chair Scott Jarson at a public meeting late last year said 2024 was a standout year for hillside activity, and continues to have a bright outlook.
The town’s hillside is the Valley’s ocean view, he said.
“People are creating wonderful homes and there’s a lot of remodel work on the hillside. This is a trend I think we are going to see,” Jarson said.
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