Tucson Luxury Real Estate Market Update for June 2014
The Tucson luxury real estate market is strong and experts agree the market will stay healthy for the foreseeable future.
In the Tucson Luxury real estate market, May 2014 active inventory was 291, a 25% increase from May 2013. There were 15 closings in May 2014, a 35% decrease from May 2013. Months of Inventory was 19.4, up from 10.1 in May 2013. Median price of sold homes was $1,000,000 for the month of May 2014, up 11% from May 2013.
Additionally, the Tucson Luxury real estate market had 21 new properties under contract in May 2014, up 31% from May 2013. When looking at distressed property sales year over year, Tucson’s luxury market has improved in 2014 to only 5% of total sales coming from distressed properties, down from 9% in 2013. A lower percentage of distressed sales can lead to improving market conditions.
If you’re interested in purchasing a home in the Tucson luxury real estate market, it’s best to do your research in order to find the perfect community for you. Do your research online first before hitting the streets, since it’s summer and bearing those summer temperatures can be brutal!
Check sites like Zillow and Trulia for home currently on the market. If it’s a new home you desire, there are fewer options out there. There are just a few communities that still have available land where you can build a home from the ground up. One such community is located in Marana next to The Ritz-Carlton hotel and is known as The Residences.
The Residences at The Ritz-Carlton, Dove Mountain is an exclusive community featuring some of the most exquisite luxury homes in Tucson, Arizona. This luxury Dove Mountain real estate community includes expansive custom homesites as well as eight superb floor plans, giving you the opportunity to design your dream home. Management by The Ritz-Carlton provides the added touch of world-class service, with valets and concierges, and the option of cooks and housekeepers. Your Tucson custom home will be a relaxing haven where you can unwind while we handle the details of housekeeping, yard work and exterior maintenance.
There are tons of activities to do in and around Tucson, such as hiking, shopping, dining, and visiting museums, to name a few. Whether you are a large family with young children or enjoying your golden years, you will find Tucson to be a charming city full of amenities to suit your needs and lifestyle.
Finally, you’ll find the residents of Tucson are generally nice and friendly, with a passion for the outdoors and living an active lifestyle. The weather is beautiful year-round and the city is known for its amazing stargazing opportunities. For more information on Tucson luxury real estate, visit www.theresidencesdovemountain.com.