AZ luxury home sells for $773 per square foot - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

AZ luxury home sells for $773 per square foot

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(Source: Russ Lyon Sotheby's International Realty ) (Source: Russ Lyon Sotheby's International Realty )
SCOTTSDALE, AZ (CBS5) -

Three Valley realtors recently closed the area's highest price-per-square-foot sale of a home to date in 2013.

The 8,089-square-foot home in Scottsdale's Desert Mountain closed Oct. 15 for $6,250,000, which is $773 per square foot.

The home featured a walk-in wine cellar; high-tech home automation system for media, lighting and security; private elevator; negative edge mosaic-tiled pool; and a service garage for staff.

The realtors, Joe Bushong, Chad Christian and Grant Almquist, are with the Scottsdale Waterfront office of Russ Lyon Sotheby's International Realty.

They've sold seven contemporary homes priced at more than $2 million in the past 18 months.

"There is a growing demand, and it's being reflected in stronger pricing," Bushong said.

The seven contemporary homes the trio sold averaged more than $500 per square foot, while typical luxury home sales in the Valley sell in the high $300s to $400 per square foot.

Bushong estimates fewer than 10 percent of the luxury homes on the market in the Valley are contemporary, and he has seen the same prospective buyers repeatedly at their listings.

These contemporary homes usually boast European or custom cabinetry such as Bulthaup, premium appliances from Miele or Gaggenau, LED lighting, smart technology capable of remotely controlling many features in the home, custom hardware and lighting details, exotic hardwoods, and rich, real stone work.

The record-setting Desert Mountain sale featured interiors by Scottsdale designer David Michael Miller, while one of the homes was built in 1966 by noted architects William Cody and Al Beadle.

Bushong said the buyers tend to be mature but represent a wide range of demographics - some are empty nesters while others have young children. Most are full-time Valley residents.

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