No Slow Down for Tucson Luxury Housing Market

Though Tucson's housing market has seen a slow down in the last six months, resale and new construction luxury homes priced above 1 million continue to sell at a strong rate. From May thru the beginning of August, 59 homes within the Tucson area sold that were priced at 1 million dollars or more. The majority of these homes are located in North and Northwest Tucson, consist of home sizes ranging from 2500 to 8000 square feet, and are on 1 to 10 acres of land. The average days on market for these luxury homes was 104, compared to 62 days on market for home priced just under 1 million. A $4.95 million home sale, located in Saguaro Ranch, set the record as the highest home sales price in Tucson.

What draws luxury buyers to the Tucson housing market? Tucson's natural beauty and serenity are two big reasons. Many of these properties are surrounded by towering saguaros, the relaxing calm of the desert and are close to one of the many mountain ranges in the area. All this provides amazing sunsets and a sense of tranquility that's hard to beat.

Another reason more luxury home buyers are choosing to make Tucson home is the availability of fine dining, exclusive resorts, golf and upscale retail. As more stores such as Louis Vuitton and Armani make their way into Tucson, more luxury home buyers see Tucson as a city that meets their needs.