The Good News,
Another home sold today in Cat 10. 4790 N Via De La Granja sold for $995,000, and it was the highest priced sale this year. And also the highest priced sale in Cat 10 since February 08.
The not so Good News for Cat 10, that is for sellers,
is that it was the highest priced sale this year. And also the highest priced sale in Cat 10 since February 08.
You see there are 16 homes for sale in Cat 10, 15 of them priced higher than De La Granja, at $890,000, $1,000,000, $1,175,000, $1,295,000, $1,299,000, $1,349,000, $1,395,000, $1,550,000, $1,699,000, $1,775,000, $1,795,000, $1,895,000, $2,290,000, $2,490,000, $2,500,000 and $2,650,000. Or between $227 & $430/sf, for an average of $321/sf. And at those prices, no one’s biting.
De La Granja sold for $995,000 or $168/sf. (In that price range it was the best deal in the Foothills this year. Bar none. I represented the buyers) It was first listed in September 2007 for $1,750,000 and after 2+ years and a few big price cuts, when it dropped to $995, we pounced. It was range priced $995,000 to $1,150,000.
Including De La Granja, there have been just 4 sales this year in Cat 10, all under a million; $587,500, $640,000, $755,000 and De La Granja today for $995,000. They ranged from $168 to $268/sf, or an average of $224/sf. (I also represented the buyers of the house on Camino Sumo that sold for $587,500, $201/sf)
There’s no getting around it, the price bar has been lowered.
And it’s true for the high-end market throughout the foothills.
Ignore it at your peril.
see thefoothillsToday.com
to find your Tucson Foothills home
