The “Hot” Areas for 2017 Land Sales: Part 1

I was honored to be invited to speak about custom lot trends at the recent “Housing and Land: Market Perspective” seminar presented by The Southern Arizona Chapter of the Appraisal Institute. In preparation for my presentation, I produced a vacant land ‘Heat Map’ showing the percentage of change in land sale prices in each of Tucson’s zip codes, from 2016 to 2017. Some of the trends and conclusions are shown on the attached map.
The two zip codes showing the largest price increase (85741 at 371% and 85706 at 300%) can be explained by looking a little deeper into the sales. Zip code 85706 on Tucson’s south side only accounted for 3 land sales during the year and started at an unusually low median price of $10,000. With just a couple of sales above $40,000, you can easily explain this large increase. In 85741, the River Rd/ La Cholla area, with only a total of 2 sales, one of those was an in-fill parcel of 10 home sites that sold to KB Homes for $675,000, thus accounting for a year to year increase of 371%.
The east side zip code of 85748 is an interesting area as well. The median price increase from $105,000 to $183,950 reflects a different trend; increasing value and lack of supply of 3- to 5-acre vacant home sites near the popular Saguaro National Park. 2016 sales in this area were in the $100,000 range and in 2017, they jumped into the 135,000-$150,000 range. One parcel, contiguous to the Park, even sold for an impressive $275,000 — the highest sale price on the east side for many years.
Another area of note is zip code 85701, covering the Downtown area. We’ve seen a tremendous increase in overall Downtown commercial, retail, and office development, and it should be no surprise that residential, vacant land is extremely hot as well. Parcels, when available, sell extremely fast and at premium prices accounting for a year to year price increase of 88%.
Zip code 85641 — located on Tucson’s far southeast side and the home to the Coyote Creek Subdivision — is also interesting. The statistics for this area show an annual 20% decrease in price. Although that is true for the many un-subdivided, rural parcels of the area, there is a completely different story in Coyote Creek (CC). In 2017, CC accounted for approximately one-third of the sales in this zip code and saw a median sales price jump to $135,000 from a 2016 median of $75,000 — an impressive, 80% increase. This reflects the development of a new phase of 50 lots that have recently been brought to market.
A final thought regarding zip codes 85718 1nd 85750, representing Tucson’s, higher end “Foothills” area, should be made. The first, 85718, showed a price increase of 17% while its neighbor, 85750, decreased 9% in value during the same period. The recent upsurge in popularity of the remaining lot inventory in Pima Canyon (85718) and the lowered lot values in the Ventana Canyon area (85750) account for these changes.
In Part 2, I’ve continued to break down lot sales by area and share some trends I see for 2018 and beyond. Read Part 2 here.

Land & Lot Reports


1926 Circle of Excellence for 2020 2017 2019 land report 2020 economic projections 2020 economy 3 Benefits of Planting Native Vegetation aerial allure of land Apache Junction architect area Arizona arizona activities arizona eating Arizona economy arizona events Arizona home owners arizona land report Arizona living arizona real estate arizona realty arizona restaurants arizona summer activities arizona summer events backyard benefits of planting native vegetation best golf courses best golf courses in Arizona best golf courses in Tucson best hikes in tucson best hiking best hiking trail of Tucson best hiking trails best home decor best home details best housing markets best lights best night lights best night time lights best of Tucson best real estate best real estate market best takeout in Tucson Bisbee blueprint blueprints breweries breweries in Tucson Arizona buildable builder building building a home building house built-in desks built-in details built-in shelves burger buying homes buying land buying land in Tucson buying real estate buying real estate in tucson buying Tucson lots carpet change order cinema room classic car construction construction loan construction permit construction plan construction plans cooling coronado forest cost country custom home building custom homes deed restrictions desert garden desert gardening design design guidelines design guidelines for a Subdivision Development diy home improvement dream home dream kitchen easements eatery eating eating in tuscon economic outlook economic projections economics elevation energy efficient events film festivals film festivals in Tucson fireplace flood flood insurance floodplain Flooring food food tours foreclosure geologic language golf courses golf courses in Arizona golf courses in Tucson gps habitat health heated floors heating hidden room hikes hiking historical hobby room holiday events home home blueprint home blueprints home builder Home building home decor home decorations home details home improvement home owners home plan home size house house blueprints house details houseplants housing markets how to buy how to buy land how to make your neighborhood safer hvac industrial style interior design internet internet in Tucson internet providers in Tucson laminate land land parcel land report land use land use in Tucson land zoning living in Tucson loan program lot lots man cave March 2024 land report march land report measurement mexican minimalist modern mortgage movie bluff movie room moving mudroom national park native vegetation neighborhood new home new year night lights non-invasive plants Old West organization packing permit permit needed permits preventing erosion property property in Arizona property in Tucson property listings property report purchasing residential land real estate real estate in Arizona real estate market real estate report realtor tucson recessed light remote work remote work in Arizona remote work in Tucson remote working residential land resolution restaurant riperian riperian habitat rooms run rural Tucson safe neighborhood salad sales salt lamp Scottsdale selling real estate slope spa spa room specialty rooms steak stone style subdivisions Summer summer activities summer events sun exposure takeout Technology theatre things to do in arizona things to do in tucson things to do in tuscon topography travel traveling Tucson Tucson 2020 economy tucson activities Tucson Arizona tucson christmas Tucson economy tucson events Tucson home owners Tucson housing market tucson land tucson land for sale tucson land loans tucson land report Tucson lifestyle Tucson living tucson lot loans tucson lots tucson mountains Tucson national parks tucson real estate Tucson real estate market tucson realty tucson summer tucson summer events Tucson vegetation tuscon land report unusable land Upgrades upgrading your home upgrading your interior useable land vacant land vacant land design guidelines vacant land guidelines vacant land tucson vacant Tucson lots vacation vegetation views vintage walk warranty Wash what to do in Tucson where to eat where to eat in Arizona working in Tucson working remote in Tucson working remotely zip codes zones zoning

Sign Up for News

Sign Up

Featured Listing