Mark Matson Pays $32M for Arizona’s Priciest Home

Financial advisor Mark Matson not only bought the most expensive mansion ever sold in Arizona, at $32.4 million. The deal includes a football field big enough for the Arizona Cardinals.

The founder of Scottsdale-based Matson Money and his wife, Melissa, bought the newly built 15,500-square-foot estate at 5724 East Mockingbird Lane, in Paradise Valley, outside Phoenix, AZCentral reported.

The sellers were Amanda and Vance Williams, who on the same day paid the Matsons $21 million in cash for a 14,600-square-foot Paradise Valley home at 5901 East Edward Lane. The tandem exchange was first reported by the Phoenix Business Journal.

Joshua Peters of Realty One Group and Stately Development co-developed the record-breaking home and had the listing. The last priciest Arizona sale was in 2022, when a 21,000-square-foot mansion traded in Scottsdale for $28.1 million, according to the Los Angeles Times.

The Matsons’ new eight-bedroom, 12-bathroom estate sits on 5 acres — big enough for a full-size football field, two garages for 11 cars and a parking lot for a dozen more, plus a 1,600-square-foot guesthouse and a guard house.

The white-and black, single-story spec home also has a pool and spa, sports courts, a gym, wellness center, theater and two primary suites, according to AZCentral (in what could be a real estate oxymoron).

In 1991, Matson founded Matrix Asset Allocation, which later became Matson Money, among the first registered investment advisors to reject a commission-based business model, according to his website. The firm has more than $8.6 billion in assets under management.

Despite soaring deals in the exclusive Paradise Valley north of Scottsdale, the cost and number of homes sold within Arizona’s richest enclave had declined last spring.

Paradise Valley, home to the state’s priciest ZIP code, had price reductions for 15.1 percent of the 162 homes seeking $5 million or more in March, the Wall Street Journal reported, citing figures from Realtor.com.

— Dana Bartholomew