This Phoenix Suburb Has The Fastest-Growing Home Prices In Arizona

PHOENIX, AZ — If you want to know where Arizona home prices are climbing fastest, look to Paradise Valley.

The affluent Phoenix-area suburb ranked No. 1 in the state for the fastest-growing home prices, according to a recent Stacker analysis using Zillow Home Values Index data.

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The ranking covered 50 Arizona cities and towns and measured the dollar change in home values over the 12 months ending March 2026.

Paradise Valley’s typical home value was $3,503,410, up $401,108, or 12.9%, over the past year, according to the Stacker report. Over five years, the town’s typical home value rose by $1,600,719, an increase of 84.1%.

Redfin’s market snapshot shows the price trend is still holding, even as sales slow a bit. In March 2026, Paradise Valley’s median sale price was $4,797,500, up 3.3% from a year earlier, while the median sale price per square foot rose 8.7% to $783.

Homes are taking longer to sell than they did a year ago. Redfin said homes spent an average of 87 days on the market in March, up from 61 days the year before, though total sales rose from 38 to 50 homes.

The market is also showing signs of softening at the top end. Redfin reported that about 32% of homes saw price drops, and the average home sold for roughly 5% below list price.

Outside demand remains strong. Redfin migration data shows buyers moving to Paradise Valley from Chicago, Seattle and Los Angeles, while departing residents most often searched for homes in Prescott Valley, Show Low and Flagstaff.

Paradise Valley was not the only Arizona community posting gains. Fort McDowell ranked second statewide with a one-year price increase of 6.1%, and Carefree ranked fourth.

The larger picture matches the broader housing slowdown: prices are still rising in some markets, but at a slower pace than during the pandemic-era surge.