MARANA, ARIZONA – KB Home of Tucson bought DeAnza Subdivision, a 251-lot platted subdivision for $11.3 million ($45,000 per platted lot). The property is located north of the northwest corner of Cortaro and Hartman Roads in Marana, a community northwest of Tucson.
DeAnza was sold by Red Point Development of Tucson, Daniel Leung, Project Manager. An additional 12 estate lots of one-acre or larger each were retained by Red Point for custom home development.
KB Home will build the 30’ and 35’ wide home products on mostly pie-shaped lots averaging 8,007-square-feet.
Dan Feig with Chapman Lindsey of Tucson handled the transaction for both sides in this all cash transaction that closed September 24, 2020.
Tucson MLS reported in August that median sale prices increased 15.2 percent to $280,000 for Single Family and 19.0 percent to $175,000 for Townhouse/Condo in Tucson MSA.
As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal. While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing markets, a healthy housing demand continues to be seen with significant tailwinds in the near term.
For additional information, Feig should be reached at 520.747.4000 ext. 103.
To learn more, subscribers should see RED Comp #8129.
