Tempe, Arizona real estate just got its moonshot. A newly built custom estate at 11812 S. 71st St. is hitting the market for $10,000,000—the highest listing ever recorded in the city. Built by Workman Builders Inc. with a certificate of occupancy on June 25, this isn’t a spec flip. It was built for a private client who never moved in and is relocating.
Why it’s a unicorn for Tempe
- 8,500 sq. ft. on 1.65 acres, no HOA, horse-approved, gated, and flood-irrigated.
- 4-car garage with an upstairs flex space—slanted windows prepped for an observatory, plus wet bar and powder room (hello billiards lounge).
- Basement built for living, not storage: a wine cellar for 1,000+ bottles, room for a wellness center and theater.
- City-approved plans for a 1,200 sq. ft. guest house already in hand. Want a barn? You’ve got space. WestWorld is 20 minutes away.
- The vibe is real: there are goats across the street—urban/rural in the best way.
“You can’t find this in Paradise Valley or Arcadia,” listing agent says. “12 minutes to the airport. Walk to Postino. The Vig is coming at the end of the street. It’s sophisticated urban with rural charm.”
The market math
- Ask: $10,000,000 = $1,176/sq. ft.—that’s Arcadia / North Scottsdale / Paradise Valley territory.
- East Valley upper-tier closings usually sit $500–$675/sq. ft. (per Joseph A. Turley, Phoenix Valuations).
- Comps: In Circle G Ranches, sales closed at $4.2M (Oct 2024) and $4M (July 2023); an $8.5M listing from 2007 expired.
- Records: Highest Tempe sale in 2025 is $2.63M; all-time highest close is $4.3M (2016) (per Aaron Auxier, Williams Luxury Homes). This would be a new record for a Tempe single-family listing.
Tempe Luxury Real Estate: Neighborhood note
The estate sits within Tally Ho Farms. A nearby 2014 build is listed at $3.89M (reduced $10,000 on July 16, per Zillow). Several standout homes here have never traded.
Macro pulse
Yes, the Valley has leaned into a buyer’s market. As Schumacher puts it: “When there’s uncertainty, buyers wait.” Expect luxury to re-emerge as temps drop—most likely a California buyer spots this one first. Bottom line: If you want Tempe with PV swagger—horses, no HOA, 12 minutes to Sky Harbor, plus a 1,000-bottle cellar—this is the one.
Are you thinking about buying or selling real estate in Tempe, Arizona? I’ve lived, worked, played and even owned businesses in Tempe, so I know this city inside and out. As a Phoenix native and award-winning, top Arizona REALTOR®, I’d be honored to help you make your next move.
Whether you have questions about Tempe, living in the greater Phoenix area, or just want to talk real estate, I’m always here to chat!
Thank you,
Andrea Scheppe, Homesmart Elite, Valley Solutions Team
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