Paradise Valley's Pandemic Rush Is Over—but High-Priced Homes Keep Selling.

Despite a decrease in pandemic-induced demand, the affluent town of Paradise Valley, Arizona, has recently experienced a surge in high-priced real estate deals. In April, the town saw the sale of its largest undeveloped residential land for $42 million, as well as two home sales that rank among its most expensive ever. However, demand has slowed over the past year and a half due to economic uncertainty and high prices. Despite this, Paradise Valley's luxury market remains strong, with some buyers waiting for prices to come down before making a purchase. [Extracted from the article]