Tucson real estate : Are big homes back? Maybe. Thus far in 2011, eleven home with at least 7,000 sqft have sold in the Catalina Foothills, Marana and Oro Valley. Here is a link to them all. In 2010, only four home with at least 7,000 sqft sold.
Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley & Marana. Contact Lisa for all your Tucson real estate needs.
I’ve seen a dramatic uptick in sales in our Tucson Luxury Home Market, which is comprised of homes $500,000 and up. We’ve seen the number of homes on the market drop by half in just the last 12 months. Good news if you are a Luxury seller in Tucson.
Yes. In Nov 2011, there was a decrease in luxury inventory and an increase in sales.
How do the prices compare from one year to the next on those 7,000 sq ft homes? Is the price per sq. foot changing drastically?
Great question Rich. The medium price of luxury homes was up 23% in Nove 2011, compared to the same time last year. Nontheless, on a price per square foot basis the value of luxury homes has fallen. I think prices buyers are willing to spend more money because they are getting more value for their dollar.