Del Webb Home Sales 2018 vs 2019
This article authored by: Rob Hallberg
Del Webb At Rancho De Lago is the only Active Adult Community located in Vail. As with all Adult communities, sales pick up during the Winter months and drop during the hot Summers.
Home prices in the Tucson area are up about 4% higher than a year ago but how have Del Webb prices compared?
For comparison purposes, I am using the sales price per square foot, which is useful when homes are built using a common Builder in the community. I have also separated home sales by square footage, as the largest homes in a subdivision typically have a lower sales price per square foot than the smallest homes. I am comparing the time periods January 1 through May 31st of each year.
The smallest homes (up to 1,500sf) sold for an average price per sf of $143.71 in 2018 but are selling at an average of $160/sf in 2019, an 11% increase! This is not that unusual, as lower priced homes often sell at a premium in a rising market.
Mid-sized homes (1,501 to 2,000sf), are showing no increase at all. In 2018, homes sold at an average price per sf of $150.79 as compared to $150.15/sf in 2019. This is surprising, as I expected prices would have increased about the same as the Tucson average of 4%.
Large homes (2,001sf and up) have actually dropped in average sales price per square foot. In 2018, homes were sold at an average of $143.64/sf as compared to only $138/sf in 2019. Buyers seem to by shying away from the larger, more expensive homes, which is also true of the greater Tucson market.
As the Summer is the slow season, you would expect prices to drop, but in 2018 they stayed about the same. It’s too early to tell about 2019.
Rob and Catherine Hallberg are Associate Brokers with Long Realty, a Berkshire-Hathaway Affiliate and Southern Arizona’s largest Brokerage. Send Rob and Catherine an email for a fast response to your questions; for an even faster response, Call (520) 407-8667 or Text (520) 203-2031.