Unlike most luxury Pima County-Tucson area home communities with homes priced over a million and that are suffering from a lack of sales, Stone Canyon (opened in 1999) has sold 8 homes this year, and an additional 2 homes are under contract. Looking closely at the sales, one can see there have been remarkable bargains in this gated and 24 hour guarded golf course community that has a gorgeous setting in the foothills of the Tortolitas with views of the Catalina Mountains and the city, to boot. Although it is located about 20 minutes from the epicenter of the Catalina Foothills, the bargain prices are worth the further out location for many second home or high- end retirement purchasers. The private golf club is restricted to owners and there are only 390 memberships at this 18 hole golf course designed by Jay Morrish who also designed The Boulders (Carefree, Arizona) and Troon North (in Scottsdale, AZ), only to mention a few. With many luxury golf course communities to compete with —Ritz Carlton, The Gallery, LaPaloma, Ventana Canyon, Skyline Country Club–to mention only the most prominent, Stone Canyon picked a poor time to market its new homes, and as a result buyers will find astonishing bargains here.
For instance, one home that was listed a few years ago and was part of the Tucson area’s “Street of Dreams” that listed for 2.8 million, ended up selling for 1.2 million in March. Many homes are listed for 50% of list prices a few years ago. There are 15 on the market priced from 825K ( this luxurious contemporary designed by award-winning Kevin Howard was originally sold at 1.95 million in July of 2006). Prices go all the way up to $4 million. Most are either Mediterranean or Contemporary designs. There are 7 listed above 2 million and it is likely most will have to be reduced to sell. The 2009 Stone Canyon 8 sales were priced from 1 million – 2.2 million. Most homes are sited on 1-2 acres. Two additional homes priced at 1.2 million and almost 1.7 million are under contract. Half the buyers paid in cash.
The message should be loud and clear for bargain hunters: Don’t rule out Stone Canyon located in Rancho Vistoso in North Oro Valley.