PARADISE VALLEY, Ariz. — The real estate market in one specific region of the Valley is capable of competing with the pricey properties seen in California and New York.
Paradise Valley's 85253 zip code was recently ranked as the 32nd most expensive zip code in the U.S., a ranking recently compiled by PropertyShark.
The median sale price for homes in this part of Paradise Valley is currently $2.7 million, resulting in the the zip code ranking higher above ones seen in southern California -- including the 90212 zip code in Beverly Hills.
The 85253 zip code has been seen on PropertyShark's annual list for the last five years and reached its highest position on the list this year.
PropertyShark notes that the Paradise Valley housing market has notably risen in value thanks to the arrival of some high-profile rock stars moving into the neighborhood.
No other zip code from Arizona made it onto the list. A zip code from San Mateo County in California topped the list with a median sale price of $8.3 million. Los Angeles County had 20 zip codes represented on the list.
PropertyShark compiled its list by evaluating median sale prices based on closed home sales, not asking prices.
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