Arizona Beach Front Property – Puerto Penasco
Rocky Point Condos-Puerto Penasco
Nicknamed “Tucson’s Beach”, Rocky Point has become a popular getaway for many Tucson and southern Arizona residents. In fact, statistics show that about 70% of Rocky Point condo buyers are hailing from southern Arizona. In the past 5 years approximately 5,000 new condominiums have been built in Rocky Point, with another 25 developments in progress and 12 more in the planning stage. As demand remained strong through 2006 and into 2007, prices have steadily risen. The average price of a condo 4 years ago was around $220,000. Currently, the average is hovering at $400-425,000.
Frank Johnson, CEO of SBR Realty, reported that his company had a lottery for the sale of Sandy Beach Resorts condos, and the result was astonishing – “eighty-three million worth of condos in seven and a half hours.” According to Johnson, for beachfront property Rocky Point is still under priced compared to comparable condos in San Diego selling for millions.
In the last year or so demand has tapered and prices have remained flat. If you’re looking for a condo on the beach to escape the desert from time to time, Rocky Point may be the place for you and this buyer’s market may be the right time. The Vallee Gold Team has experience and expertise with the Rocky Point condo market and can help you get pointed in the right direction.
Contact Don and Kathy Vallee at 520.219.1024 for more information
