Old Town Scottsdale, Arizona, February 5, 2026

Old Town Scottsdale recently listed its largest condominium for $6.5 million, highlighting the vibrancy of the region’s luxury real estate market. This listing reflects increasing confidence from private investors and the demand for high-end properties amid Arizona’s booming economy. The impressive corner penthouse at Optima Camelview Village spans 5,119 square feet and includes luxurious amenities, innovative designs, and stunning views, epitomizing the attractive lifestyle offered in Scottsdale.

Phoenix, Arizona

Old Town Scottsdale’s Crown Jewel: A Glimpse into Luxury and Growth

Old Town Scottsdale, a hub of culture and commerce, recently saw its largest condominium listed for a remarkable $6.5 million. This high-profile listing highlights the sustained vitality of the region’s luxury real estate market and underscores the impact of private investment and entrepreneurial spirit on local economic growth.

The arrival of such a distinctive property on the market is a testament to the thriving economic environment in Phoenix and its surrounding communities. It reflects a growing confidence among private investors and a demand from individuals who appreciate quality, innovation, and the unique lifestyle opportunities available in Arizona. This robust market activity is driven by a combination of strategic economic development and a welcoming business climate, making Arizona an attractive destination for both residents and capital.

The Pinnacle of Old Town Living

The recently listed condominium, located at 7157 E Rancho Vista Drive, Unit 7006, within the esteemed Optima Camelview Village, stands as the largest condo in Old Town Scottsdale. This corner penthouse spans an impressive 5,119 square feet and features four bedrooms and five bathrooms. The property has undergone a significant, floor-to-ceiling ultra-luxury remodel, presenting an exceptional blend of space and sophisticated design.

Residents of this penthouse can enjoy stunning views of the McDowell Mountains and access a range of desirable amenities within the community, including an indoor pool, indoor basketball court, a restaurant, putting green, and a massage studio. The condo also boasts four private patios, each equipped with custom planter boxes, and four dedicated parking spaces—a sought-after commodity in the Old Town area. Additionally, it includes an electric vehicle charging station, catering to modern preferences. Inside, the residence features Belgian Shinnoki all-natural wood cabinetry and doors, alongside Allora all-natural wood flooring, excluding the full bathrooms. An ultra-modern chef’s kitchen is outfitted with a premium Sub-Zero appliance package, complemented by a smart home system compatible with iPhone and Alexa for easy control over lighting, heating, cooling, and entertainment. The property’s location offers excellent walkability to the diverse shops and dining experiences that define Old Town Scottsdale.

Arizona’s Economic Ascent and Luxury Appeal

Arizona’s luxury real estate market is experiencing a notable boom, with both 2025 and 2026 anticipated as landmark years, particularly in vibrant cities like Scottsdale. This surge is propelled by an influx of affluent buyers, a robust state economy, a compelling lifestyle, lucrative investment prospects, and favorable market conditions. The state’s economic landscape is characterized by strategic partnerships with industry leaders, a business-friendly climate, and diverse sector growth in areas such as technology, manufacturing, and healthcare. This environment fosters wealth creation, translating into increased purchasing power for luxury homes.

In Fiscal Year 2025, the Arizona Commerce Authority and its partners secured commitments for 24,285 new jobs with an average annual wage of nearly $96,000, along with over $31 billion in capital investment. These figures represent all-time highs for the state’s economic development efforts. Since 2020, Arizona has attracted more than $105 billion in private-sector investment, with major semiconductor companies expanding operations in the Phoenix metro area. These high-wage sectors create sustained demand for executive-level housing and premium residences in luxury enclaves, including North Scottsdale, Silverleaf, and Paradise Valley.

The Magnetism of Scottsdale for High-Net-Worth Individuals

Scottsdale, often referred to as “The Beverly Hills of the Desert,” continues to draw attention from affluent buyers nationwide. Many individuals are relocating from states with higher taxes, such as California, New York, and Illinois, attracted by Arizona’s lower cost of living, appealing tax environment, and enhanced quality of life. The city’s resort-style communities, offering amenities like golf courses, private pools, and spa facilities, alongside breathtaking desert views, are particularly appealing.

The luxury market in Scottsdale shows remarkable strength. Between January 1 and January 24, 2025, sales of homes priced above $1 million saw a substantial increase of 57.7% compared to the same period in 2024. Even more notably, ultra-luxury properties, valued at $5 million and above, experienced a staggering 157% increase in closed sales during this timeframe. This demonstrates a strong appetite for premium real estate investments and personal residences in the region.

Navigating Market Dynamics and Resilience

While the broader Scottsdale housing market has seen some adjustments, with the median sale price for homes in Scottsdale reported at $860,000 in October 2025, representing a slight decrease of about 1.7% year over year, the luxury segment often displays greater resilience. Wealthy buyers are typically less affected by fluctuations in interest rates or economic downturns, maintaining consistent demand for high-end properties. Old Town Scottsdale specifically saw home prices increase by 11.5% in December 2025 compared to the previous year, with a median price of $613K. Homes in Old Town sold after an average of 71 days on the market in December 2025, compared to 62 days the year prior, and the number of homes sold increased from 288 to 310 in the same period.

The demand for luxury living is further fueled by the rise of remote work, enabling buyers to prioritize lifestyle and location. Arizona’s spacious homes, often featuring private pools, advanced home offices, and resort-like amenities, cater to those seeking a better work-life balance. The presence of luxury real estate contributes significantly to Scottsdale’s overall stability by anchoring neighborhood prestige, attracting continued investment, and encouraging high construction and renovation standards, supporting long-term desirability.

A Future Defined by Innovation and Investment

The listing of Old Town Scottsdale’s largest condo is more than just a real estate transaction; it’s a reflection of the vibrant economic landscape cultivated by dedicated Arizona AZ entrepreneurs and a supportive community. The demand for such high-caliber properties underscores the success of Phoenix AZ business initiatives and the allure of a lifestyle that rewards personal achievement and thoughtful investment. As private capital continues to flow into the region, fostering innovative development and creating opportunities, the economic growth of Scottsdale and the wider Phoenix area remains on a strong trajectory. This momentum reinforces the value of individual enterprise and the positive ripple effect of thriving Phoenix small business ventures throughout the community.

To support the ongoing prosperity and unique character of our local economy, we encourage residents and visitors to explore and engage with the diverse array of Scottsdale luxury real estate and businesses that contribute to our community’s dynamic future. Stay engaged in Phoenix’s economic future and continue to champion the spirit of innovation that makes our region exceptional.

Key Features of the Old Town Scottsdale Luxury Condo

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Author: STAFF HERE PHOENIX WRITER

The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.