PARADISE VALLEY, Ariz. – A Paradise Valley estate has closed for $20.9 million, setting the highest residential sale in Arizona this year and further solidifying the state’s rapid emergence as a national ultra-luxury destination.
The transaction was brokered by Shelby DiBiase, team leader of The DiBiase Team at eXp Realty and one of the top-producing luxury real estate agents in the Paradise Valley and Scottsdale corridor. DiBiase represented the buyers through a months-long search that began in October 2025 at the $12.5 million level and ultimately secured a property nearly $9 million above their original target. With nearly three decades of experience and over 2,000 transactions closed, DiBiase has become one of the most recognized names in Phoenix luxury real estate.
Behind two iron gates on Casablanca Drive, the 11,000-square-foot estate sits on more than two acres with sweeping views of Camelback Mountain and the iconic Praying Monk rock formation. Designed for privacy and exclusivity, the property is intentionally concealed from the street, an increasingly sought-after feature among today’s high-net-worth buyers seeking Arizona luxury homes.
The estate is configured as a true compound, featuring a main residence, detached guest house, and a separate game room, all centered around a grand courtyard that reveals itself only after passing through both gated entrances. A full-size tennis court is currently being converted into two regulation pickleball courts by the new owners, reflecting evolving lifestyle preferences even at the highest price points.
“This was about more than just finding a home. It was about finding the right property that checked every box for privacy, lifestyle, and long-term value,” said DiBiase. “When my client told me, ‘You made our dreams and then some come true,’ that’s the moment that reminds you why we do this at every level.”
DiBiase also represented the buyers in the sale of their previous $11 million home, further demonstrating the kind of long-term advisory relationship that has defined her career in Scottsdale and Paradise Valley luxury real estate.
Casablanca Drive has quietly become one of the most exclusive residential corridors in Arizona. A separate compound at 5738 North Casa Blanca Drive sold for $33.5 million in January 2025, setting the all-time state record, while former MLB All-Star Matt Holliday purchased a home on the same street earlier this year for $10.6 million.
The sale comes amid a broader transformation of Arizona’s luxury market. Scottsdale’s millionaire population has grown 125 percent over the past decade, reaching approximately 14,800 and surpassing Austin as the fastest-growing millionaire hub in the United States, according to the Henley & Partners USA Wealth Report.
Ultra-luxury home sales above $5 million in the Paradise Valley and Scottsdale corridor surged 157 percent year-over-year in early 2025, while overall luxury dollar volume increased 51 percent. Maricopa County continues to lead the nation in net domestic migration, with an estimated 173 Californians relocating to Arizona each day, drawn by a 2.5 percent flat state income tax and a lifestyle offering comparable luxury to markets like Palm Beach and Aspen at a significantly lower cost basis.
“What we’re seeing is a fundamental shift in how buyers view Arizona,” DiBiase added. “They’re no longer comparing us locally. They’re comparing us to the top luxury markets in the country, and they’re recognizing the value and lifestyle we offer.”
“Shelby understands something that most agents in this market still overlook,” said Buck Wise, CEO of Qinary, a brand strategy and marketing firm that works with top-producing real estate professionals. “She has built a level of visibility and trust through her personal brand that gives her clients an advantage. In a market moving this fast, with this much capital entering, the agents who win are the ones who show up consistently and position themselves as the authority. Shelby has done exactly that.”
Watch the $20.9 million Casablanca Drive estate on Instagram.
Paradise Valley’s median home price reached $3.5 million in late 2025, placing it among the top 25 most expensive zip codes in the country. Price per square foot has risen 33.5 percent over the past two years, with new construction now averaging $1,706 per square foot. Active inventory remains limited at approximately 215 homes, with demand continuing to outpace supply at the highest end of the market.
About Shelby DiBiase
Shelby DiBiase is team leader of The DiBiase Team at eXp Realty and one of the top-producing luxury real estate agents in Scottsdale and Paradise Valley, Arizona. With nearly three decades of experience and over 2,000 homes sold, DiBiase specializes in ultra-luxury residential transactions throughout the greater Phoenix metropolitan area. Her 2026 sale of a Paradise Valley estate for $20.9 million represents the highest closed residential transaction in Arizona this year. DiBiase is known for her long-term advisory relationships with high-net-worth clients relocating to Arizona’s luxury corridor.
For more information or to schedule interviews, contact Buck Wise, CEO of Qinary, at buck@qinary.com.
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