Luxury real estate market heats up in Payson

Payson’s high-end home market has skyrocketed this year, but a lack of homes under $200,000 may signal a fresh crisis in affordable housing.

Home sales between $400,000 and $500,000 jumped 76 percent and sales of even more expensive homes rose a staggering 86 percent.

Wendy Larchick and Melissa Cave, with Keller Williams Arizona At the Rim Team, said they are seeing many buyers from California attracted to the area for the scenery, lower taxes and more conservative viewpoints. They can also buy a lot more house in Arizona than they can in California.

One buyer told the Realtors they could save $15,000 annually on taxes by moving to Arizona.

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