Tucson's Active Adult Communities are weathering this volatile market fairly well. Prices have stabilized at pre-boom levels. Homes are selling but with longer market time. Short Sales and Foreclosures are rare in these communities so there is no downward spiral in values based on distressed properties. Buyer's visiting open houses in these communities are ready to buy as soon as their homes in our feeder markets of California, the Northwest, the Midwest, East Coast and Colorado sell. The frigid weather in other parts of the country, lower prices and interest rates, and pent up demand is expected to attract buyers to Tucson this winter and spring.
Sales activity in SADDLEBROOKE dropped off dramatically in the last few months. Mid-year sales projection was for over 200 homes sold this year. At year end only 125 homes sold. Sold properties averaged 121 days on the market. Compared to the 200 homes sold in 2007 this is a significant drop. Sale prices are stable at an average sale price of $398,000; 2007 average sale price was $393,000. The list to sale price differential is 95%. This could account for buyer reluctance to purchase the available homes; buyers may be waiting for the prices to come down. With 147 homes currently listed it will take over a year to sell the current inventory.
SUN CITY continues to see housing values decline from $318,000 in 2006, to $283,000 in 2007, to $263,500 in 2008. Sales remain steady with 102 homes sold this year just slightly less than 112 homes sold last year. Sold properties averaged 70 days on the market. The list to sale price differential is 95%. With 74 homes on the market there's 9 months of available inventory.
HERITAGE HIGHLANDS has also seen a dramatic drop in sales with 47 homes sold this year compared to 72 homes sold in 2007. Sold properties averaged 105 days on the market. Average sale price also dropped from $344,000 in 2007 to $291,600 this year. The list to sale price differential is 93%. With 74 available homes it will take nearly a year to sell the existing inventory.
VISTOSO VILLAGE has had brisk sales activity with 17 homes sold in 2008 compared with 7 sales in 2007. The increase in sales may be a result of the dramatic drop in the average sale price from $307,000 in 2007 to $243,000 in 2008. Sold properties averaged 177 days on the market. The list to sale price differential is 94%. With 16 homes on the market, it will take a year to sell the current inventory.
SUNFLOWER continues to be a stable market with 32 homes sold this year compared to 38 sales last year. Average sale price has dropped from $244,000 in 2007 to $212,000. Sold properties averaged 111 days on the market. The list to sale price differential is 96%. With 26 homes on the market, it will take over a year to sell the existing inventory.
This is a wonderful opportunity to make a smart buy in Tucson. Interest rates are at all time lows, inventory is high, price reductions have been taken and motivated sellers are ready to negotiate.
For seller's aggressive pricing and top notch marketing is the key to successful selling in Tucson. With market stabilization, sellers continue to see a good return on their real estate investment in Tucson.
Location Characteristics: Location Characteristics: TUCSON has long been a favorite destination for Active Adults and Retiree's due to the reasonably priced homes and low taxes. Active adults are drawn to the area because of the warm weather and almost daily sunshine, which allows them to enjoy their favorite outdoor activities year around. Homes are reasonably priced and range from the high $200's to over $1 million with the average price in the mid $200's. There is a good selection of homes available and prices are stable.
NORTHWEST TUCSON is the fast growing area of Tucson and is home to some of the most desirable Active Adult/Retirement/Resort Communities in the United States: SaddleBrooke, Heritage Highlands, Sunflower, Sun City Vistoso, Vistoso Village. For more details, please visit our website: www.RetirementTucson.com.
SADDLEBROOKE The stark beauty of the Sonoran Desert and the majesty of the Santa Catalina Mountains combine to provide a magnificent backdrop for this world-class active adult resort community with nearly 5,000 homes. The 3,000-foot elevation provides cooler temperatures and superb view of the storms in the mountains during the monsoon season. Anchored by 63 holes of championship golf there is also competitive tennis on lighted courts, heated lap and recreational pools and spas, state-of-the-art fitness centers with personal trainers available, softball field, bocce ball courts, walking paths, a performing arts center, professional quality arts & crafts studios, libraries, social and special interest clubs abound, plus casual and fine dining. There is a good selection from which buyers can choose their new home. For more details, please visit our website: www.RetirementTucson.com.
ORO VALLEY - Oro Valley boasts a fabulous view of Pusch Ridge in the Santa Catalina Mountains and is booming with new homes and commercial shopping is expanding. It is home to the Master Planned Community of RANCHO VISTOSO and The Golf Club at Vistoso, which was voted "Best Course in Tucson" in 1999 by Golf Digest. Two outstanding Active Adult Communities are located in the Oro Valley/Rancho Vistoso community: SUN CITY VISTOSO and VISTOSO VILLAGE.
SUN CITY VISTOSO affords a great view of Pusch Ridge and the Santa Catalina Mountains. This Del Webb designed community is anchored by an 18 hole golf course, lighted tennis courts, walking paths, fitness centers, lap and recreational pools, miniature golf, bocce ball courts, professional quality arts & crafts studios, libraries, social and special interest clubs. There is a good selection from which buyers can choose their new home. For more details, please visit our website: www.RetirementTucson.com.
VISTOSO VILLAGE is a gated, small neighborhood of town homes. The community was voted "Best Small Active Adult Community" (under 300 homes) in the 2003 by the "National Council on Seniors Housing Gold Achievement Awards." There is always a few homes available from which buyers can choose their new home. For more details, please visit our website: www.RetirementTucson.com.
MARANA - is one of the fastest growing communities in Southern Arizona and is home to two of the best Active Adult Communities in the Tucson Metro area: Heritage Highlands and Del Webb's Sunflower. Located just off I-10 it is a convenient location to drive into Tucson, get to the airport or travel to Phoenix. There's lots of convenient shopping and dining nearby, too. For more details, please visit our website: www.RetirementTucson.com.
HERITAGE HIGHLANDS is located in the prestigious Dove Mountain community and nestled at the foot of the Tortolita Mountains with views of the Santa Catalina Mountains and the sparkling city lights of Tucson. Heritage Highlands is a gated, active adult resort community with an 18-hole championship golf course and a country club lifestyle featuring all the activities you'd expect…tennis, state-of-the-art fitness center, pools and spas, arts & crafts, library and cards and billiard rooms, restaurant, clubs and social activities. There is a good selection of homes from which buyers can choose their new home. For more details, please visit our website: www.RetirementTucson.com.
SUNFLOWER is a Del Webb Community an active adult resort community without golf. However, there are several public and private golf courses nearby. Sunflower has less than 1,000 homes on approximately 245 acres. Homes range in size from 1,100 to over 2,000 sq. ft.. There is a good selection of homes from which buyers can choose their new home. For more details, please visit our website: www.RetirementTucson.com.
About www.RetirementTucson.com:
Put our Active Adult Communities Team to work for you. It is your retirement and you have worked hard to earn it. We are looking forward to helping you find the perfect home and community where you can build new friendships and pursue your favorite activities.
If you are searching for resort-style living in an environment that celebrates the scenic wonders of the great southwest, one of Southern Arizona's retirement communities could be your destination. A number of these communities are oriented toward an active lifestyle, with amenities including tennis, hiking, bicycling, year-round swimming, and championship golf.
Call us today at 520-825-1457
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
