With Phoenix home to some of the state's top luxury markets like Paradise Valley and Scottsdale, the city of Tempe doesn't immediately come to mind for high-end homes that command top-dollar prices.
Two residential teams for Russ Lyon Sotheby's International Realty are looking to change that reputation through a pair of listings that could set a high watermark for single-family home sale prices in Tempe.
The newly built "Tally Ho Estate" at 11812 S. 71st Street hit the market last week for $10 million, and a "Bali-inspired" home at 2007 E. Ranch Road is listed for $7.25 million.
Jennifer Schumacher, the listing agent for the Tally Ho Estate, said the home "sets a new standard for the area, and we are thrilled to be a part of what will be the city’s biggest sale on record.”
The most expensive sale in Tempe to date is an 8,624-square-foot estate at 2133 E. Ranch Road — just down the street from the Bali estate — which sold for $4.2 million last October.
If the new listings sell close to their asking prices, they will set new records, as Tempe draws more demand from buyers and businesses, according to Sotheby's agents.
Tempe is home to Arizona State University — bringing with it plenty of nightlife and entertainment options — but also serves as a growing corporate hub in Phoenix.
Companies like Carvana Co., Dutch Bros Coffee and Avnet have their corporate headquarters within Tempe and several more major employers have established regional offices within the city.
“The city of Tempe has grown by leaps and bounds in recent years," Schumacher said. "This home is proof-positive that it’s not just in commerce but in real estate as well."
Joining exclusive company in Tempe neighborhoods
The Tally Ho Estate was built on 1.65 acres in the South Tempe neighborhood. This 8,500-square-foot home has four bedrooms and seven bathrooms and features a resort-style backyard with a pool, spa and covered patio. The house has a gourmet kitchen and an expansive basement with a wine cellar.
Five miles east of the Tally Ho Estate is a home that is trying to capture the feeling of traveling to resorts in Bali, Indonesia. This property, at 2007 E. Ranch Road in Tempe's West Chandler neighborhood, sits on less than an acre but encompasses 6,480 square feet.
“It gives an overwhelming feeling of serenity and modern luxury together in one extraordinary residence," said Shawna Perkins, who's listing the property alongside Colt Stevens and Mark Thomas, in a statement.
This home has five bedrooms, five and a half bathrooms, a casita, and its own "backyard oasis" with a resort pool, cabanas, jacuzzi and sauna, and a pickleball court.
These two homes are in exclusive company in their respective neighborhoods. In both South Tempe and West Chandler, the bulk of the housing inventory carries an average value between $480,000 and $790,000. Less than 1% of homes in both neighborhoods are valued above $2.34 million, according to Homes.com data.