‘So the good news in PC (Pima Canyon) and Cat 10 is that listing prices are holding up. The bad news is that homes are not selling at those prices.’ ’I should have added--indeed they are not selling at all’
thanks to a reader, referring to look on the bright side, darn it
I thought a little data might offer a clue as to why nothing is selling in PC.
These are the average list prices of homes sold in past years, in PC;
2006 - $1,948,450 (the all time peak)
2007 - $1,744,964
2008 – $1,751,444
2009 - $2,387,682, this is the average list price of homes for sale in PC this year, because you see, none have sold.
Here’s another clue.
Prices are down about 30% from the peak- in the Foothills, in Tucson, in Arizona, and just about everywhere else in the USA, and it’s nowhere more evident than at the high-end of the market but, despite that, list prices in Pima Canyon are up, not down.
PS – there is now one home under contract in PC and, without revealing the selling price, the listing agent assured me that it too would support current asking prices in Pima Canyon. So that’ll make 1 sold in 4 months, 22 for sale is 22 X 4 = an 88 month supply of PC homes. But so what, list prices are holding up, and that’s the good news, and we want the good news, right.
see thefoothillsToday.com
to search for Tucson Foothills Homes
