The latest is 1081 E Calle Mariposa, which went to contract today. It was slow to start, listed last May at $728,000 then to $718,000, then $708,000, then back up to $718,000 and on and on until it finally expired this April. But it was relisted for $624,900 and quickly dropped to $599,900 ($146/sf) and away it went.
I showed Mariposa last spring when it was $718,00 and while it was a decent house in a nice location, for my clients, and for most others I think, it needed a good bit of updating. And at $718,000 it just didn’t add up.
Right now there are 10 homes for sale in Shadow Hills, and 4 in contract and 14 sold in the last 6 months.
That works out to a very lean 4.3 months of inventory. And though it’s very unusual these days,
I’ll bet the fact that buyers and sellers in shadow Hills are in agreement on prices has something to do with both the pace of sales and the health of that little niche market -
the average/median list price of those for sale is $450,580/$434,400 while for those sold it’s
just $462,500/$435,000. And the homes sold in the last 6 months went for 95.27% of list price.
Almost unheard of.
While in the foothills overall, the average/median list price is $806,404/$499,500, while the average/median sold price for August is $391,343/$339,000!
1081 E Calle Mariposa Tucson, AZ 85718
(listed by Long Realty)
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