Real estate experts at Russ Lyon Sotheby’s International Realty dive into why Arizona is a hot market.
In the picturesque backdrop of Arizona’s sunny skies and pristine desert landscapes, Russ Lyon Sotheby’s International Realty has cemented itself as a cornerstone of luxury real estate. With 78 years of rich history, this company’s journey is as much a story of family legacy as it is about Arizona’s transformation into a desirable destination for homebuyers worldwide.
The tale begins in 1947 when Russ Lyon, a former big band leader, stumbled upon the Arizona desert after his son fell ill with Valley fever during a cross-country trip. Captivated by the serene beauty and welcoming climate, Lyon pivoted from music to real estate. At a time when securing a real estate license required little more than a visit to the Chamber of Commerce, Lyon laid the foundation for what would become an ICONIC real estate empire.
Fast-forward to today, Russ Lyon Sotheby’s International Realty is synonymous with white-glove service, catering to clients across Arizona—from Tubac in the south to Flagstaff in the north. The company’s growth reflects Arizona’s broader appeal, fueled by its sunny weather, burgeoning communities, and a lifestyle that draws everyone from retirees to young professionals.
Peter Zaidan and Mike Balzotti
Why Arizona?
Arizona has evolved from an overlooked desert state to a bustling hub for luxury living. Guests on the new “ICONIC Estates Presented by Russ Lyon Sotheby’s International Realty” podcast, including the company’s CEO, Jim Lyon, real estate veteran Peter Zaidan and market analyst Mike Balzotti, paint a vivid picture of this transformation. Factors like the introduction of air conditioning in the mid-20th century and Arizona’s affordability compared to neighboring states like California have played pivotal roles. A booming job market and the ability to work remotely have further accelerated Arizona’s allure.
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For many, the state’s charm lies in its lifestyle—a blend of outdoor adventures, cultural richness, and upscale amenities. Whether it’s hiking the trails of Camelback Mountain or sipping wine in the burgeoning vineyards of southern Arizona, the state offers a little slice of heaven for everyone.
The Real Estate Boom
The real estate market in Arizona is nothing short of dynamic. During the COVID-19 pandemic, the state witnessed a surprising boom, with people relocating from urban centers to enjoy more space and sunshine. High-end properties have seen explosive growth, with sales of million-dollar homes doubling in recent years. Yet, Arizona remains comparatively affordable, offering better value for money than many other luxury markets.
This demand has brought diversity to the types of homes being built. From sprawling estates with mega garages for car enthusiasts to chic urban condos in Phoenix,…
Read More: Iconic Estates: Exploring the Heart of Arizona’s Real Estate Boom
