Since the latest wave of financial meltdowns started about two weeks ago, activity in the Tucson Foothills real estate market has been surprisingly OK, well not bad, better than I expected anyway. Considering.
Here's a look at what's happened since Monday 9/15
We've had -
72 new listings (50 are actual new listings, 22 are re-listed old listings) and that's OK because it means that people continue to believe they can sell their homes. And I hope they're right.
and they may be, because a surprising 29 have gone under contract,priced from $234,900 to $1,795,000. And 29 under contract is very respectable for any two week period. But given what's gone on in the last two weeks it's down right miraculous.
11 homes have fallen out of escrow and come back on the market.
I'd guess that some are a result of lenders new tactic of backing out of deals, plus some buyers getting cold feet and then the usual inspection issues.
18 homes had price increases. Don't ask me why.
Although most of those were in Villa Milano at Rancho Sin Vacas, see
ships in the night for more on that.
71 had price reductions. And that's a lot, but what do you expect, price increases.
and 9 have sold, priced from $255,000 to $1,550,000
So not bad, OK really. But now, with the bailout having failed to pass and the stock market really tanking, we may be entering a new chapter.
Calling all cash buyers.
see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
