Paradise Valley New Homes For Sale
New Construction, Paradise Valley
Reviewed by Anne Sostman | The Brokery | Arizona License SA718853000 | September 2026
New Construction Homes
for Sale in Paradise Valley, AZ.
Custom Estates · Spec Builds · Teardown-Rebuild · Crown Canyon & The Palmeraie · Anne Sostman, The Brokery
Paradise Valley has no production subdivisions and never will: one-acre R-43 zoning, a 25 percent floor-area cap and a 24-foot height limit make every new home a custom commission, a builder’s spec estate or a teardown-rebuild on an established lot, plus two exceptions, Crown Canyon and The Ritz-Carlton Residences at The Palmeraie. Anne Sostman of The Brokery reads the new-build market from ARMLS closings, not builder brochures: in the twelve months to July 2026, homes built in 2023 or later sold at a $9.1 million median and $1,250 per square foot, against $3.5 million for the pre-2000 stock they replace.
“In Paradise Valley the lot is the investment and the house is the expression of it. Anne Sostman of The Brokery underwrites a new build by what the dirt underneath it would sell for on its own, because that is what the next buyer will do.”
Anne Sostman, The Brokery
Anne Sostman, The Brokery
$9.1M
Median sale, homes built 2023 or later, Jul 2025 to Jul 2026 (ARMLS)
$1,250/sf
New-build price per sq ft vs $757 for homes built before 2000
1 Acre
R-43 minimum lot, 25% floor-area cap, 24 ft height limit
$500-$1,000+
Custom construction cost per sq ft, before the lot
Paradise Valley Specialist
Custom · Spec · Teardown-Rebuild
Private Client Network
Off-Market Access
Published by Anne Sostman
Live from the MLS
New Construction Paradise Valley Listings
Where and What
Where Paradise Valley’s New Homes Are Being Built.
Three routes to a new home in Paradise Valley, each with a different price of entry. Anne Sostman of The Brokery tracks all three, and the lots that are about to become the fourth.
New construction by market: Scottsdale · Paradise Valley · Arcadia
| Teardown-Rebuild · Spec Estates · All of PV Custom and Spec on Established Lots The main event. Builders and owners buy 1960s to 1990s estates on acre lots for land value and replace them with 6,000 to 12,000 square foot transitional and contemporary homes. Finished spec estates trade from roughly $6 million to well past $15 million depending on the mountain in the window: the Camelback corridor sold at $1,005 per square foot over the last year, Mummy Mountain at $890, central PV at $894 and north of Doubletree at $742 (all product, ARMLS, Jul 2025 to Jul 2026). Anne Sostman of The Brokery sees most spec estates while they are framing, through builder relationships rather than the MLS. | Gated · 12 Residences · Preserve Crown Canyon The only new gated enclave in town: 30 acres inside the Phoenix Mountains Preserve off 40th Street, twelve residences by BedBrock Developers with architecture from CP Drewett, Vernon Swaback, Dean Ciofani and Stratton Andrews. Seven showcase homes of 6,200 to 12,000 square feet are in design or construction and one custom homesite remains; closed sales include $16.85 million (8,132 sq ft, May 2025) and $30.6 million. Anne Sostman of The Brokery treats Crown Canyon as its own market, priced per square foot above anything else in the Valley. | Branded · Villas & Estates · Lincoln Drive The Ritz-Carlton Residences, The Palmeraie The 122-acre Five Star Development at 7000 E Lincoln Drive pairs a 215-room Ritz-Carlton with 81 condominium villas priced from $1.6 million and 32 estate homes from $6 million. The project broke ground in 2018; Five Star filed Chapter 11 in November 2025 and a bankruptcy court cleared villa sales to continue that December, so buyers here need contract terms written for a project still under court supervision. Anne Sostman of The Brokery will walk you through exactly what that means before a deposit. |
Age Moves Price More Than Location
What New Construction Sells For, by Era.
Single-family closings in 85253, July 2025 through July 2026, from ARMLS. Every band of the town posts a similar median; what separates a $3.5 million sale from a $9.1 million one is the year the house was built. Anne Sostman of The Brokery pulls this table each quarter.
| Built | Sales | Median sale | Per sq ft | Days on market | Sold at % of list |
|---|---|---|---|---|---|
| 2023 or later | 59 | $9,100,000 | $1,250 | 90 | 95% |
| 2015 to 2022 | 44 | $5,850,000 | $1,013 | 87 | 96% |
| 2000 to 2014 | 48 | $4,907,500 | $763 | 96 | 96% |
| Before 2000 | 208 | $3,500,000 | $757 | 56 | 95% |
Before You Buy a Lot
The Rules That Shape Every Paradise Valley Build.
| Zoning R-43 and the 25 Percent Cap One acre minimum (R-175 requires more than four). Floor area ratio of about 25 percent of net lot area counts every roof: living space, garages, covered patios, guest houses. On a flat acre that points to a home in the low five figures of square feet. Height tops out near 24 feet; setbacks are 40 feet front and rear and 20 feet on the sides. Anne Sostman of The Brokery runs the FAR math on a lot before a client falls for the view. | Hillside Slope Decides the Footprint Any site sloping 10 percent or more falls under the Hillside Building Overlay. At 10 percent slope about 60 percent of the site can be disturbed; at 15 percent it drops to about 34 percent; steeper ground goes to single digits, with height measured from natural grade. Hillside Building Committee review typically takes one to three meeting cycles. Mountain lots are priced on what can be built, and Anne Sostman of The Brokery gets that answer from the Town before an offer. | Time and Money 18 to 30 Months, $500 to $1,000+ per Foot Design, engineering and permitting add 6 to 12 months before ground breaks; custom construction runs 12 to 18 months more and $500 to $1,000-plus per square foot, the highest range in metro Phoenix. Thomas James Homes, the largest single-lot builder in the country, will build on your lot or source one, with current Valley listings between $3.2 million and $4.96 million. Anne Sostman of The Brokery represents buyers on lots, on spec homes and on builder contracts at no cost to the buyer. |
Frequently Asked Questions
Paradise Valley New Construction FAQ.
Is there new construction in Paradise Valley, AZ? Yes, and almost all of it is one home at a time. Paradise Valley’s one-acre R-43 zoning rules out production subdivisions, so new homes are custom commissions, builder spec estates and teardown-rebuilds on established lots, plus two enclaves: Crown Canyon (12 residences by BedBrock inside the Phoenix Mountains Preserve) and The Ritz-Carlton Residences at The Palmeraie (81 villas from $1.6 million, 32 estates from $6 million). Anne Sostman of The Brokery tracks every active build in town. | How much does a new construction home cost in Paradise Valley? Over the twelve months ending July 2026, Paradise Valley homes built in 2023 or later sold at a median of $9.1 million and $1,250 per square foot, per ARMLS. Homes built 2015 to 2022 sold at $5.85 million and homes built before 2000 at $3.5 million, so the build year moves price more than the neighborhood does. Anne Sostman of The Brokery prices a new build against those closings, not against list prices. |
How much does it cost to build a custom home in Paradise Valley? Custom construction runs $500 to $1,000 or more per square foot before the lot, the highest range in metro Phoenix, and design, engineering and permitting add 6 to 12 months before a 12 to 18 month build. On a flat acre the 25 percent floor-area cap points to a home in the low five figures of square feet. Anne Sostman of The Brokery helps clients underwrite lot plus build against what finished homes actually sell for. | Should I build or buy a finished new home in Paradise Valley? Buy if a finished spec estate exists in the pocket you want; build if the lot matters more than the timeline. A spec estate delivers in months at a known price; a custom build takes 18 to 30 months and carries cost risk, but it is the only way onto a specific hillside lot. Anne Sostman of The Brokery sees many spec estates during framing, which is often the middle path: finished quality with a say in the finishes. |
What is Crown Canyon in Paradise Valley? Crown Canyon is a gated 30-acre enclave inside the Phoenix Mountains Preserve off 40th Street, developed by BedBrock with twelve residences designed by CP Drewett, Vernon Swaback, Dean Ciofani and Stratton Andrews. Showcase homes run 6,200 to 12,000 square feet, one custom homesite remains, and recorded sales include $16.85 million and $30.6 million. Anne Sostman of The Brokery treats it as its own market, priced above anything else in the Valley per square foot. | What is the status of The Ritz-Carlton Residences in Paradise Valley? The Palmeraie at 7000 E Lincoln Drive is a 122-acre Five Star Development with a 215-room Ritz-Carlton, 81 condominium villas priced from $1.6 million and 32 estate homes from $6 million. Construction began in 2018; Five Star filed for Chapter 11 in November 2025, and a bankruptcy court allowed villa sales to proceed in December 2025. Anne Sostman of The Brokery advises buyers here to treat deposit and completion terms as the first negotiation, not the last. |
What are the building rules on a Paradise Valley lot? R-43 zoning: one-acre minimum, a floor-area ratio of about 25 percent of the net lot, a height limit near 24 feet, and 40-foot front and rear setbacks with 20-foot sides. Any slope of 10 percent or more triggers the Hillside overlay, which limits site disturbance to about 60 percent at 10 percent slope and 34 percent at 15 percent. Anne Sostman of The Brokery confirms buildable area with the Town before a client writes on a lot. | Do I need my own agent to buy new construction in Paradise Valley? Spec builders and enclave sales offices represent the seller, and a buyer walking in unrepresented negotiates against a professional with no one on their side. Representation from Anne Sostman of The Brokery costs the buyer nothing on a builder sale and covers price, allowances, inspections during construction and the completion terms, which matter most on projects still being built. |
Take the Next Step
Considering New Construction in Paradise Valley?
The best lots and spec builds move through private channels first.
Whether you are buying a finished spec build, acquiring a teardown-eligible lot, or exploring the custom build process, a consultation identifies what is currently available off-market, what the construction economics look like at your target level, and which micro-pocket delivers the strongest long-term value.
Representing buyers and sellers across Old Town & South Scottsdale communities · 480.999.9945
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The publicly listed inventory represents a fraction of the new construction activity in Paradise Valley. For off-market spec builds, teardown-eligible lots, and builder introductions, a consultation is the right first step.
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Paradise Valley Market Snapshot
Verified · All residential · Jul 2025 to Jul 2026$4,596,068
Average sale price
+12% year over year
450
Homes sold (12 months)
+66 vs the year earlier
95%
Sold-to-list ratio
of asking price
99 days
Days to close
contract to close
Source: ARMLS single-family closed sales, zip 85253, Jan 1 to Jun 30 2026 vs. same period 2025. A starting point, not a valuation for a specific home. Reviewed by Anne Sostman, The Brokery, Arizona License SA718853000, September 2026.