An upscale metro Phoenix estate with almost everything, including a koi pond, is now on the market with an unprecedented listing price of $26 million.
Located in the exclusive town of Paradise Valley, some 15 miles to the northeast of Phoenix, the property at 5901 E. Edward Lane changed hands just last fall, when it was listed for $21 million.
According to published reports, the new owners of the property, after extensively renovating the estate, decided against moving into it, opting to put it on the market instead.
The property is now being listed with the real estate firm Realty One Group, which has offices in Phoenix.
Built in 2007, the mansion was sold in 2018 for $5.9 million and comprises nearly 13,000 square feet with seven bedrooms and 13 bathrooms.
The estate also includes an 11-car garage, guest house, covered patio and porch, spa and heated swimming pool, and, of course, the koi pond.
The Edward Lane property reflects the market in Paradise Valley, where the population has been relatively static at around 13,000 for the last two decades, but prices have exploded.
Median listing for a Paradise Valley home is now more than $5.2 million, up from just over half that amount in 2015.
Once largely agricultural, property in Paradise Valley began to substantially take off as the town developed into a Phoenix bedroom community in the 1960s.
In the process, it has been the home to the late Supreme Court Justice Sandra Day O’Connor, Arizona Cardinals president Michael Bidwell, and Olympic champion swimmer Michael Phelps.
April 15, 2025
By Garry Boulard
Photo courtesy of Pixabay
