Luxury Homes for Sale in Tempe, Arizona

Tempe is a compact, central Valley city best known as the home of Arizona State University. It offers a walkable, energetic feel, plenty of dining and entertainment, and quick access to Phoenix, Scottsdale, Mesa and Chandler. These are the newest homes for sale in Tempe listed at $1,000,000 and above. There is no single definition of a luxury home, so I use this price point as a starting place for this area.

Buying at Higher Price Points

At higher price points, lot, views, privacy, finishes and amenities can vary widely, and terms and timing can matter as much as price. Having an experienced agent on your side helps you compare properties and structure an offer that protects your interests.

Before You Buy

Every luxury home is different, so plan on detailed inspections and a careful review of the HOA documents, if any, before you make an offer.

Every purchase is different, and I'm a strong negotiator who keeps negotiating until the keys are in my client's hands. On some homes you may also be able to take over the seller's existing FHA, VA or USDA loan; see my assumable mortgage guide.

Learn more in my Moving to Tempe guide, browse homes by lifestyle and amenity, or compare all my Greater Phoenix city guides. Call Terry Day at 602-483-4665.

Tempe luxury homes: questions people ask

Can you boat or swim on Tempe Town Lake if you buy a lakefront condo?
You can boat on Tempe Town Lake with a City of Tempe boat permit, but gas motors are not allowed and swimming is prohibited except at permitted events. Every public watercraft needs a daily or yearly permit, and the permit form lists choices like kayaks, canoes, sailboats, rowing shells and electric-powered pontoons. The only swimming allowed is in organized events such as triathlons approved by the city. See moving to Tempe for more on the lake area.

Do I need city approval to remodel a historic home in Tempe?
Yes, exterior changes to a property on the Tempe Historic Property Register or in a designated historic district need design review by the Tempe Historic Preservation Office. Work that would materially change the home's historic or architectural character needs a Certificate of Appropriateness, while minor exterior work that does not change that character can get a Certificate of No Effect. Interior remodeling plans do not need review by the Historic Preservation Office.

What documents do you get when buying a resale condo in a Tempe high-rise?
Arizona law requires that a resale condo buyer receive the association's governing documents and a disclosure packet within 10 days after the offer is accepted. The packet includes the declaration, bylaws, rules, the current budget, the latest financial report, the most recent reserve study if one exists, and minutes from recent board meetings. It must also state the unit's assessments, any special assessments, pending lawsuits involving the association, and what the association's insurance covers.

What does Tempe require to rent out a home as a short-term rental?
Tempe requires owners to get a city Short-Term Rental License for each unit before offering it for rent. After the license is approved, the owner must give written notice to the neighbors next door, directly across the street and diagonally across the street, including the license number and emergency contact information. Browse more higher-end options on our Greater Phoenix luxury homes page.

Buying or selling a $1M+ home? I'm Terry Day with DeLex Realty: 20+ years in Greater Phoenix, recent sales up to $2.7 million, and straight talk with no attitude.

See my recent higher-end sales · Read client reviews · Call 602-483-4665

Newest Luxury Homes in Tempe ($1,000,000+)

$1,295,000

5 Beds ⋅ 4 Baths ⋅ 7102734 MLS ⋅ 3,583 SqFt.

Some homes are measured in square feet. This one is better measured in moments. Morning coffee beneath the trees. Dinner with the entire back of the house open to the evening air. Long afternoons around the pool, followed by fires under the stars. Behind the gates of coveted Graystone, at the end of a tree-lined cul-de-sac, this nearly half-acre property feels less like a home in the city and more like a private retreat. Step inside and you'll immediately understand what makes it different. Soaring vaulted ceilings, dramatic wood beams and a floor-to-ceiling fireplace draw your eye toward the home's unforgettable centerpiece: nearly 30 feet of glass doors that stack completely away, blurring the boundary between indoors and out.

20 E Los Arboles Circle, Tempe

$1,595,000

6 Beds ⋅ 2 Baths ⋅ 7102178 MLS ⋅ 3,512 SqFt.

A RARE PIECE OF ARIZONA HISTORY! Built in 1898, this remarkable two-story heritage home offers a unique opportunity to own a piece of the Valley's past! Situated on an expansive 35,200 sq ft lot, this distinctive property features 3,512 sq ft of living space, timeless character. The spacious floor plan offers 4 bedrooms, an office, a climate-controlled flex room & 2 bathrooms downstairs, plus 2 additional bedrooms & a versatile flex space upstairs. With 3 HVAC units, generous living areas & flexible spaces, this home provides an abundance of possibilities. Step outside to enjoy the expansive covered patio with a 20' x 40' play pool with removable safety fencing. The sprawling grounds feature a grassy front yard, extensive view fencing & plenty of room to create your own outdoor retreat. The impressive lot offers potential for additional improvements or future development, subject to city approval & applicable zoning requirements. Additional highlights include a detached 3-car garage plus an additional covered parking space. Ideally located in the heart of Tempe, approximately 10 minutes from Arizona State University, 11 minutes from Phoenix Sky Harbor International Airport & 19 minutes from Old Town Scottsdale. Enjoy convenient access to shopping, dining, entertainment & everything the Valley has to offer. HISTORY, CHARACTER, SPACE & ENDLESS POSSIBILITIES!

1203 E Alameda Drive, Tempe

$1,350,000

4 Beds ⋅ 3 Baths ⋅ 7100421 MLS ⋅ 3,472 SqFt.

A Rare find in Tempe, this custom residence combines substantial scale, privacy and thoughtful modern design. Set on nearly one half-acre with no rear neighbors, this beautifully reimagined custom South Tempe home has a presence all its own. Enhanced by more than $56,000 in additional improvements since the owners' purchase, this Round Valley Estates residence offers four bedrooms, three baths, approximately 3,472 square feet of living space, a finished basement, a private pool, and no HOA. Mature trees, a lush lawn, and a welcoming brick courtyard create a memorable arrival. Beyond the striking steel entry door you will find exposed wood beams, airy vaulted ceilings, and two fireplaces to bring warmth and architectural character to the beautifully updated interior. Milgard windows highlights the inviting living spaces, complemented by luxury plank flooring and recessed lighting. The custom kitchen offers generous counter space, dual sinks, substantial cabinetry, and a walk-in pantry, with both casual and formal dining areas for gatherings large and small. Three updated bathrooms carry the refreshed design throughout the home, while the finished basement creates a separate retreat for movie nights, recreation, hobbies, or a quiet workspace. A wide rear sliding door opens to a backyard that invites you to slow down and stay awhile. A private diving pool, covered patio, pergola, and expansive artificial turf create distinct spaces for sunny afternoons, shaded lounging, and dinner outdoors. With nearly half an acre and no neighboring homes directly behind, the setting offers the space and sense of retreat that make everyday living feel like a getaway. Recent investments extend beyond the visible finishes, including upgraded 400-amp electrical service, a 220-volt garage outlet for EV charging, a new two-ton air conditioner, pool pump and filtration equipment, a water heater, and a garage door opener. A two-car garage and RV gate add practical versatility. For buyers drawn to Scottsdale and Gilbert locations, this distinctive South Tempe residence offers a compelling alternative along the Loop 101 corridor, close to ASU Research Park. The ASU Tempe campus lies to the north while technology and semiconductor hubs--including Chandler's Intel, Microchip Technology, and Northrop Grumman -extend to the South. Convenient freeway access toward Scottsdale connects academic, research and career hubs, as well as multiple entertainment districts.The combination of generous grounds, beautifully updated living spaces, a finished basement, and inviting outdoor amenities makes a strong case for broadening the search and increased value. Convenient freeway access keeps Scottsdale and the East Valley within easy reach, while home offers the atmosphere of a personal retreat. Discover how much your next home can offer--and experience the scale, warmth, and character of this property for yourself.

2125 E Vaughn Street, Tempe

$2,450,000

7098244 MLS ⋅ 8,119 SqFt.

Freestanding restaurant or redevelopment opportunity along Tempe's Broadway corridor at a highly visible signalized corner. Situated on approximately 0.90 acres, the 8,119 SF building spans two stories and features indoor dining, bar areas, a commercial kitchen and an outdoor patio. With 62+ onsite parking spaces and strong Broadway Road frontage, the property offers excellent exposure and accessibility. Zoned C-G, with potential for continued restaurant use or redevelopment, subject to city approval.

530 W Broadway Road, Tempe

$1,495,000

6 Beds ⋅ 4 Baths ⋅ 7097074 MLS ⋅ 2,953 SqFt.

1948 E. PEGASUS DRIVE | TEMPE ✨ Some homes have a backyard. Pegasus has a private resort. Set on a nearly half-acre, no-HOA lot, this remarkable property pairs a beautifully remodeled 4-bedroom, 2-bath main home with a fully permitted detached 2-bedroom, 2-bath casita--complete with its own address, electric meter, private entrance and parking. Then step outside: a brand-new pool, two putting greens, a fire-pit gathering area, RV parking with full hookups, and a private lighted combination basketball and pickleball court. It's a setting made for everyday enjoyment, unforgettable weekends and room for everyone. Approximately 3,000 square feet of combined living space. Two separate residences. A backyard built for play, relaxation and entertaining.

1948 E Pegasus Drive, Tempe

$3,297,900

5 Beds ⋅ 6 Baths ⋅ 7094618 MLS ⋅ 6,449 SqFt.

Stunning custom Mediterranean estate in desirable South Tempe, completed in 2017 and designed for luxury living and entertaining. Soaring ceilings and an open floor plan showcase exquisite marble and oak flooring, coffered ceilings and exceptional craftsmanship. The gourmet chef's kitchen features custom cabinetry, granite countertops, oversized island and an impressive 72'' Sub-Zero/60'' Wolf appliance package. A wine room and spa-like primary shower with sauna add to the luxury. The resort-style backyard offers a sparkling play pool with fire features, putting green, gazebo with fireplace and built-in BBQ. Additional highlights include 15.96 kW solar with 20.8 kWh battery storage, 1,000-gallon propane tank, and gated front & side entry. Truly exceptional Arizona living! Custom Mediterranean design, completed December 2017 72" Sub-Zero / 60" Wolf premium appliance package Oversized gourmet kitchen island with custom cabinetry & granite Marble flooring & oak flooring in bedrooms Coffered ceilings Dedicated wine room Dual-stack washer/dryer Primary shower with sauna Putting green Play pool with fire features Gazebo with fireplace Built-in BBQ 15.96 kW solar system 20.8 kWh energy storage battery 1,000-gallon propane tank Gated front & side entry

12245 S 70th Street, Tempe

$1,000,000

4 Beds ⋅ 3 Baths ⋅ 7093538 MLS ⋅ 2,382 SqFt.

Welcome to this lakefront home in the highly sought-after Lakes community of Tempe. Residents of The Lakes enjoy resort-style amenities including a private Beach and Tennis Club with fitness center, outdoor heated pool and spa, tennis, pickleball, basketball, racquetball and sand volleyball courts, bocce ball, billiards, children's playground, and a 52 acre stocked lake for fishing. Enjoy entertaining in the open concept dining room, living room with fireplace and kitchen with water views from the pool and lake. This home features split primary suites ideal for multigenerational living. Windows, sliding glass doors and natural light from the skylights create a bright welcoming home. With 4 bedrooms 3 bathrooms 2 whirlpool tubs and a hot tub, relaxation can be footsteps away.

5419 S Compass Road, Tempe

$1,975,000

4 Beds ⋅ 3 Baths ⋅ 7093159 MLS ⋅ 3,764 SqFt.

Historic Farmer-Goodwin House is one of Tempe's true architectural treasures. Built in 1883 as ''The grandest house in the Valley'', this rare two-story adobe estate showcases Georgian Revival design, symmetrical floor plan, grand central staircase, lime-plastered walls, and a distinctive hipped roof with ten flush dormers. Live and work in the same home with light commercial zoning. Once home to ASU's first principal, later to prominent rancher James C. Goodwin, this residence is deeply woven into Arizona history. Lovingly restored and thoughtfully revitalized, this property offers a rare opportunity to own a timeless piece of Tempe's heritage. Full of possibilities and flexible spaces, all on a half acre of land with a separate studio. All upstairs bedrooms are plumbed for ensuite bath

820 S Farmer Avenue, Tempe

$1,075,000

4 Beds ⋅ 2 Baths ⋅ 7092025 MLS ⋅ 2,134 SqFt.

California Coastal charm meets waterfront living in The Lakes! This rare, fully renovated single-story home sits directly on the water in one of the community's most coveted locations. The stunning kitchen features custom white shaker cabinetry, quartz countertops, stainless steel appliances, and a built-in dining nook with bench seating. Wood-look luxury vinyl plank flooring flows throughout, while both bathrooms showcase beautifully updated custom tile showers. Enjoy Arizona's beautiful weather from the spacious paver courtyard or backyard patio. The low-maintenance yard features synthetic grass, citrus trees, and tropical hibiscus. The roof has been freshly recoated and includes a transferable warranty. Waterfront homes like this are a rare find so don't miss your opportunity!

1419 E Commodore Place, Tempe

140 E Rio Salado Parkway Unit 1201, Tempe

$3,950,000

4 Beds ⋅ 5 Baths ⋅ 7092020 MLS ⋅ 3,783 SqFt.

Welcome to one of the most exclusive penthouse opportunities in the Valley. Perched atop Bridgeview at Hayden Ferry Lakeside, this rare 12th-floor residence offers 4 bedrooms, 4.5 bathrooms, & 3,783 SF of fully renovated, two-story living. Positioned at one of the highest vantage points on Tempe Town Lake, it captures panoramic views of Hayden Butte (A Mountain), Camelback Mountain, the Papago Mountains, the lake, ASU, & the city skyline--stretching from sunrise to city lights. A dramatic arrival is defined by 18-foot ceilings, a two-story wall of glass, & a sculptural spiral staircase. The open layout flows through the great room, dining, & a chef's kitchen with Wolf, Miele, & Sub-Zero appliances. Floor-to-ceiling glass opens to two private terraces for seamless indoor-outdoor living.

140 E Rio Salado Parkway Unit 1201, Tempe

140 E Rio Salado Parkway Unit 1103, Tempe

$2,900,000

3 Beds ⋅ 3 Baths ⋅ 7092014 MLS ⋅ 2,945 SqFt.

Experience elevated luxury living from the 11th floor of Bridgeview at Hayden Ferry Lakeside, one of Tempe's premier waterfront towers. This expansive 3 bedroom, 3 bathroom residence offers 2,964 square feet of sophisticated living space with breathtaking panoramic views of Tempe Town Lake, Camelback Mountain, Papago Mountains, Sun Devil Stadium, Sky Harbor Airport, and the city skyline through dramatic floor-to-ceiling glass. Designed for both entertaining and everyday living, the open-concept floorplan is filled with natural light and showcases striking architectural windows that enhance the incredible views from nearly every room. The spacious kitchen features high-end appliances, granite countertops, generous prep space, and seamless flow into the living and dining areas. One of the most exceptional features of the home is the expansive private patio, offering an incredible outdoor living experience. Whether relaxing or entertaining, the patio perfectly captures the stunning sunsets, city lights, and waterfront views that make this residence so special. The luxurious primary suite offers floor-to-ceiling windows, spa-like bathroom amenities, and impressive views, while the additional bedrooms provide ideal space for guests or a home office. Additional features include premium parking spaces conveniently located near the elevators and private storage. Bridgeview residents enjoy resort-style amenities including a pool & spa, fitness center, community room, outdoor entertaining areas, concierge-style living, and one of the best locations in Tempe. Just moments from ASU, Mill Avenue, Tempe Beach Park, light rail, Sky Harbor Airport, dining, shopping, entertainment, and freeway access. Ideal as a full-time residence or lock-and-leave luxury retreat.

140 E Rio Salado Parkway Unit 1103, Tempe

140 E Rio Salado Parkway Unit 1101, Tempe

$1,677,000

2 Beds ⋅ 2 Baths ⋅ 7092004 MLS ⋅ 1,863 SqFt.

Experience elevated living from the 11th floor of Bridgeview at Hayden Ferry Lakeside, one of Tempe's premier luxury waterfront towers. This 2 bed, 2 bath residence showcases breathtaking panoramic views of Tempe Town Lake, Camelback Mountain, Papago Mountains, Sun Devil Stadium, Sky Harbor Airport, and the city skyline through dramatic floor-to-ceiling glass throughout. Designed for both comfort and entertaining, the open-concept floorplan features angled architectural windows that create a striking visual effect while maximizing natural light and views. The spacious kitchen is appointed with high-end appliances, granite countertops, and seamless flow into the living and dining areas. Step outside to the oversized private balcony, the perfect place to enjoy incredible Arizona sunsets and city lights. Both bedrooms offer floor-to-ceiling windows and impressive views. Additional features include 2 premium parking spaces conveniently located near the elevators and a private locked storage area. Bridgeview offers resort-style amenities including multiple outdoor lounge areas, pool & spa, fitness center, community room, and on-site luxury tower conveniences. Ideally located near ASU, Mill Avenue, Tempe Beach Park, light rail, Sky Harbor Airport, dining, shopping, entertainment, and freeway access. Ideal as a full-time residence or lock-and-leave lifestyle opportunity.

140 E Rio Salado Parkway Unit 1101, Tempe

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