News Article From: 06-21-2006
The first article, Valley's pricey areas not in nations top 100, from the Arizona Republic, reports that when it comes to a list of the nation's most expensive zip codes, Paradise Valley's 85253 and Scottsdale's 85262 just don't measure up to the Hampton's in New York and the exclusive Rancho Santa Fe in Southern California. A recent Forbes magazine analysis of the 2005 median home sales prices rank Paradise Valley No. 122 and Scottsdale's 85262 at No. 390. "I would say that they still know they live like kings at the top of the mountain," said RL Brown, a Valley housing analyst who sees good news in the relatively low rankings of Arizona's high-rolling homeowners. "We're affordable" in comparison to the nation's most expensive areas, he said. Realtor Rusty Davis of Russ Lyon Realty said that in the past three months, 77 homes have sold in Paradise Valley at an average of $2.7 million, including a $9.5 million home northwest of Scottsdale Road and Doubletree Ranch Road.