Paradise Valley tops Arizona's most expensive home markets with a typical value of $3.16M, showing a 10.2% increase in one year and 97.2% over five years. Other pricey cities include Carefree ($1.27M), Cave Creek ($1.02M), and Fort McDowell ($987K). Phoenix-Mesa-Chandler metro dominates with 16 cities in the top 30, followed by Flagstaff with six. Home values vary widely, influenced by location and market trends.