Ventana Canyon Home Sets Record For Most Expensive Home Ever Sold In Tucson

A property in Ventana Canyon most likely set a record for the most expensive single family residence to ever sell in Tucson. The home was a 7,200 square foot structure located northeast of North Kolb and East Sunrise Dr. The home sold for $8,000,000, which included $1,000,000 in artwork and home furnishings that were included in the sale. The home also included a glass bridge walkway, an expensive patio, and a tile pool with a waterfall.

This sets the stage for others around the world to take notice of Tucson as an emerging as a destination for “ultra-ultra-luxury”. In the past several years, Tucson has seen a major move in higher end luxury home sales, commercial development in the luxury commercial market (La Entrada), and the stores and services that accompany them. More than ever before, wealthy residents from across the country (particularly Chicago, New York, California, and Seattle) are choosing to purchase vacation homes or relocate to Tucson. In years past, these buyers may have chosen Scottsdale or San Diego, or even LA, but now Tucson is becoming an alternative to those places for the ultra wealthy. Resorts like Ventana Canyon, Canyon Ranch and El Conquistador bring in a wealthy clientele who decide that Tucson can fit their lifestyle needs and purchase property here.

Tucson in recent years has passed the 1 million mark for area population. By doing so, many higher end corporations such as Nordstrom’s, Tiffany’s, and other finer retailers, now feel that they have a strong enough base of people to open up a store in the region. This translates into high-end buyers in search of a second home or winter home in a beautiful climate and amazing scenery coming to Tucson. It affords them the shopping and other amenities they demand in the city where they would consider a property. In my opinion, look for the high end of Tucson real estate to grow by leaps and bounds as more luxury buyers discover Tucson. This in turn will bring a larger market for developers to build and push the envelope for high-end design in homes and amenities.

This entry was posted on Thursday, November 1st, 2007 at 1:48 pm and is filed under Miscellaneous. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.