Tucson Luxury Homes and Estates, a growing market

Tucson Luxury Homes and Estates..... a growing market.

Just sold  in Skyline Country Club. Photo Courtesy of TARMLS.

The recent commencement of the SAHBA Parade of Homes has reinforced that Tucson is now a place on the map for Luxury Homes and Estates over the Million Dollar Price Range.

Until five years ago, Phoenix was seen as the market for this price range, and Tucson and its surrounding areas of Marana, Oro Valley, although generally attracting a more classy clientele, was seen as a smaller Luxury Home and Estates Market. 

However Resorts such as the world class rated Miraval, and Canyon Ranch have brought people to our beautiful area over the years, and the new Ritz Carlton Resort in Marana is set to change and  promote Tucson and its surrounding area as the ultimate Luxury Home Market. Saguaro Ranch, with its one entrance tunnel, and Luxury Land lots has been a success. Saguaro Ranch's new restaurant McClintocks has served elegant food with an unbeatable location. The fact that Tucson reached a Million in Population, and that it was mentioned in Fast Company Magazine last year as one of the fastest technology growing centers in the world, has also been a plus for this beautiful area.

Although Tucson is seeing more Luxury Homes and Estates on the market, much is attested to the fact that the Affluent Baby Boomer generation is about to retire, and Builders have done their demographic studies to appeal to the Luxury Home Buyer. The most expensive Luxury home just sold in Tucson around $7,000,000. The Ritz Carlton Resort will have an enclave of Luxury Homes and Casitas that will surround the new Golf Course.

As Tucson Luxury Home agents, we have definitely seen an increase in demand for homes over the Million Dollar range, from Buyers that are either looking to buy second homes from out of state, or for those relocating permanently to the area. The recent mortgage crisis has not affected the Luxury Home Buyer in Tucson, and although we have seen some adjustment in pricing for those homes that were overpriced, in general Luxury homes have not seen a big depreciation. Over 41 homes have sold in the last six months in the North and Northwest without an overall great digression from the list price.

If you are looking to get a Jumbo Loan for your Luxury Home Purchase, the rates are great at the moment, and there are choices that can be made in the Tucson Luxury Home Market, whether you are looking for a  Golf Property, a Tucson Hacienda, and/or great views.