The “Hot” Areas for 2017 Land Sales: Part 2

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. This is the second part of a 2-part series. Read part 1 here.
The area of Tucson that continues to lead the land market in both velocity of sales and price increases is Northwest Tucson. The Oro Valley area continues to be a popular destination for new homebuyers and builders as does the Dove Mountain locale.
In 2017, the NW accounted for 138 of the total 505 area wide sales – or 27.3% of all land sales in Tucson. The median sales price increased from $102,500 in 2016 in Dove Mountain, 14% and 2% respectively. Unsubdivided, 3.3-5 acre sites also saw price increases from the $110,000 range to the $125,000 range.
Although the median price of West side lots decreased 11% from $82,000 to $72,700, sales volume increased approximately 10% between 2016 and 2017. We also saw Tucson’s newest gated subdivision, Las Rocas, off El Camino Del Cerro, come to market: A gated, 20-lot neighborhood of 1.5 to 2-acre custom lots priced aggressively in the $170,000-$185,000 price range. Interestingly, excellent land values are currently available in Tucson Mountain Reserve at $135,000, Saguaro Cliffs at $127,000, and Starr Pass at $80,000-$110,000.
Despite price decreases from 2016 to 2017 in many of the areas in Tucson, every area experienced an increase in sales volume. A total of 505 custom lots were sold in 2017 versus 388 in 2016 – a whopping 30% increase annually. This trend is continuing during the first 5 months of 2018 and based on that, I predict sales of approximately 600 lots this year – a 20% increase over 2017.
We’ve begun to see land subdivisions, dormant since the recession, being re-priced and brought back to market. I expect this trend to continue into 2018, 2019, and beyond. Examples are Ocotillo Preserve, a 40-lot conservation subdivision of 4-acre sites at the base of the Santa Rita Mountains in Vail, Arizona. Originally priced in the $175,000-$250,000 range, these are now available from $110,000 with special builder terms and incentives for multiple lot purchases.
Also, The Reserve at Saguaro Park, a 15-lot SR zoned subdivision, is about to be re-introduced to the market and sold in its entirety. This recorded but unimproved subdivision of 57 acres at the west end of Ina Road is currently considered a “Paper Plat” as the new buyer will have to complete all the planned improvements including roads, gate, and utilities prior to developing homes on the site.
With many current lenders offering lot loans (One Arizona Credit Union, US Bank, National Bank of Arizona, Compass Bank, and Washington Federal among them) at what are historically low rates, new jobs being created in Tucson bringing many more professionals to our area, and a plentiful inventory of good and new lots, the Tucson Land Market is positioned for another strong period of growth.
To read Part I of my list of “hot” areas, click 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 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