Arizona luxury real estate just shifted into a higher gear — quite literally. A sprawling Paradise Valley estate featuring everything from an indoor go-kart track to a private shooting range sold for $40.2 million in July, setting a new record for the most expensive home sale in Arizona history.

The jaw-dropping property at 5531 E. Mockingbird Lane didn’t just make waves locally. According to Redfin, the sale ranked No. 8 among the 10 most expensive U.S. home sales in July, putting Paradise Valley in rarefied company alongside Bel Air, Malibu, Beverly Hills, Manhattan and Miami Beach.

It also marks the first time an Arizona property has cracked Redfin’s monthly national top 10.

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These are the most expensive U.S. home sales of July

  1. 10644 Bellagio Rd., Los Angeles, CA 90077: Sold for $130 million 
  2. 27832 Pacific Coast Highway, Malibu, CA 90265: Sold for $55 million
  3. 3512 Ocean Blvd., Corona Del Mar, CA 92625: Sold for $48.5 million 
  4. 1210 Benedict Canyon Dr., Beverly Hills, CA 90210: Sold for $47.8 million 
  5. 217 W. 57th St Unit 113, New York City, NY 10019: Sold for $47 million 
  6. 48-50 W. 69th St., New York City, NY 10023: Sold for $45 million 
  7. 1107 Hillsboro Mile, Hillsboro Beach, FL 33062: Sold for $42 million 
  8. 5531 E. Mockingbird Ln., Paradise Valley, AZ 85253: Sold for $40.2 million 
  9. 3220 Rum Row, Naples, FL 34102: Sold for $40.2 million 
  10. 145 Palm Ave., Miami Beach, FL 33139: Sold for $40 million 

The all-cash transaction on the Paradise Valley home easily surpassed Arizona’s previous residential sales record of $33.5 million, set last year by another Paradise Valley compound.

And what does $40.2 million buy in Arizona?

Quite a lot.

Built in 2020 and situated on roughly 2 acres, the nearly 21,000-square-foot estate includes a five-bedroom main residence, two-bedroom guest house and studio-style guest casita.

But the home’s headline-grabbing amenities are where things get interesting.

Along with its indoor go-kart racing track and shooting range, the property features a safe room, beauty salon, home theater and wine storage capable of holding more than 400 bottles.

Car collectors get their own playground: a massive 6,000-square-foot garage that can accommodate as many as 18 vehicles with the use of lifts.

Outside, the property continues the resort-like experience with a swimming pool and spa, full outdoor kitchen, pizza oven, smoker and bar.

Katrina Barrett of Local Luxury, Christie’s International Real Estate represented the seller, while Paulina Matteson of Serhant represented the buyer, whose identity was not disclosed in the information provided.

Despite setting an Arizona record, the Paradise Valley mansion had some serious competition nationally. July’s most expensive sale was Casa Encantada in Bel Air, which fetched a staggering $130 million. A Malibu beachfront mansion followed at $55 million, while homes in Corona del Mar and Beverly Hills sold for $48.5 million and $47.8 million, respectively.

Every property in Redfin’s July top 10 sold for at least $40 million.

For Arizona, however, the Paradise Valley deal represents another milestone for a luxury housing market that continues to compete on a national stage.

And with a go-kart track inside the house, this record-setting sale comes with its own victory lap.