Building Costs Per Square Foot in the City of Tucson (AZ), USA

Residential Construction Market Analysis in the City of Tucson (AZ), USA

Newly Built House in Tucson 2180 S Triangle X LN AZ85713 – 4 Bedrooms and 2 Baths with 2 Attached Garages on Gross Floor Area 1,780 sqft – Built in 2022 – Price $474,900

Newly Built House in Tucson 2180 S Triangle X LN AZ85713 – 4 Bedrooms and 2 Baths with 2 Attached Garages on Gross Floor Area 1,780 sqft – Built in 2022 – Price $474,900

Building costs are -5% below the national average in the City of Tucson in Arizona. If you are looking to buy a property or invest in the real estate market, it is always essential to be informed. For that reason, we have prepared this article with everything you need to know about the residential construction market in Tucson, Arizona. This will help you know if the region is the ideal one for you, or if you should continue looking and expanding to other states.

Tucson (AZ) Construction Outlook

What makes Tucson stand out from other Arizona cities is the way it blends naturally into the midst of the city. Of course, everyone can see the mountains behind the buildings, but also the city effectively mixes plants and trees in the middle of the streets, making this city not feel like a concrete jungle.

Tucson has family houses, with 3 or 4 bedrooms, with a large park and garage. In this city, nature is privileged, and that is noticeable in the residential constructions. Even the buildings have some space with grass and plants or the famous cacti.

On the outskirts of Tucson, you can find some luxury houses. They are authentic mansions and have a value that exceeds $600,000, but you must bear in mind that they are giant houses. These do have pools and other types of features that you would find in a mansion in any state.

In the financial center of the city, you can find some buildings, all with a very 80’s style, full of cement, with few eccentricities and modest. In any case, there are more modern building projects to come in the next few years.

Tucson (AZ) Housing Market Analysis and Forecast

The Tucson, Arizona real estate market presents the ideal setting for sellers to earn profits, even higher than originally expected. This is because there is a high demand for properties, causing prices to remain stable and rise in some cases.

This year the value of the properties increased by 10%, and the properties take an average of 40 days to sell. It may seem like a lot of days, but it’s better than the national average. In addition, some houses sell for up to 5% of the list price, giving sellers more profit than they expected when they put their property on the market.

Although there is a lot of demand to buy properties, there has been a drop in the number of properties listed. It is only 1% in this month compared to the previous one, but it is expected that in the last months of the year it will reach an annual low peak. This is detrimental to buyers as they will not have as many choices of properties to purchase.

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