Newsletter from Vallee Gold

Tucson Luxury Home Market 2024: Key Insights and Exciting Trends from Kathy and Don Vallee of 1912 Realty

The Tucson luxury home market is experiencing a remarkable transformation, making 2024 one of the most exciting years yet for high-end real estate in the region. With record-breaking sales, fast-moving inventory, and compelling trends, this thriving sector is capturing the attention of buyers, sellers, and investors alike.

Among standout 2024 sales, the largest luxury home sold in Stone Canyon at $1,001 per square feet.

This was a record-breaking sale that has set the tone for Tucson’s luxury market. A stunning Stone Canyon property sold for an astounding $8.5 million, the highest home sales price ever recorded in Tucson.

Luxury homes priced at $1 million and above are seeing strong movement across all price ranges, with the $2-2.9 million segment standing out as a particularly active category, boasting 46 units sold so far this year.

The Tucson luxury home market has experienced explosive growth over the past decade. In 2010, just 70 closings were recorded for homes priced at $1 million or more. By contrast, 2024 has already seen 531 closings — a staggering increase that reflects the city’s evolution into a highly sought-after destination for Tucson luxury living.

As we look ahead to spring 2025 and beyond, the momentum in Tucson’s luxury market shows no signs of slowing down. Buyers are expected to continue seeking properties that offer the perfect combination of design, location, and lifestyle.

Source: Tucson Multiple Listing Service