Here's a snapshot of sales activity since October 1st for single family homes in the Tucson Foothills. Yes there's been some activity.
Today there are 564 single family homes for sale in the Tucson Foothills, priced from $190,000 to $6,450,000
Since October 1st we've had -
59 new listings
priced from $195,000 to $6,450,000
about 45 of them are actually new listings,
the remaining 14 are re-listed old listings, having another go at it.
22 homes have gone under contract,
priced from $325,000 to $1,860,000. But three of those fell out of escrow and are now back on the market.
3 homes had price increases. Best wishes to them.
85 homes had price reductions
And that's probably a record for two weeks.
And 16 of those (a disproportionate share) were for homes priced at $1.0 & UP.
and 13 homes have made it through the gauntlet and sold,
priced from $285,000 to $2,250,000.
In the past month just 28 single family homes have sold in the Tucson Foothills. And given the current inventory of 564 homes for sale, that puts us at about 20 months of inventory. And that's a lot.
Sure, much of the slowdown in sales can be blamed on the collapse of our financial markets and the uncertainty and fear swirling around. And hopefully this will be resolved in due time with the right combination of private initiative and government action.
But until then don't kid yourself, and don't let yourself be kidded.
The situation will remain extremely difficult for home sellers,
and continue to offer unprecedented control and opportunity for buyers.
One why now happening; in the last 24 hours two homes were listed for sale at the very top of the price tier for the Tucson Foothills. And both coincidentally, are in The Canyons, and both (coincidentally,) are on Secret Canyon Dr.
One is brand new, though not yet completed, at $4.5mil.
The other was built in 2003 and is listed for $6,450,000, Yikes! which makes it the highest priced home listed for sale in the Foothills today.
See them here> Secret Canyon Dr
**no pictures yet, just the details.
I look forward to your questions and comments.
see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
