For years now there’s been a large gap, an abyss really, between the average list price of all the homes for sale and the average list price of the homes that buyers are buying.
e.g., in January 2009 the homes for sale in the Tucson Foothills were listed at an average of $919,942 – while the homes that sold were listed at an average of $495,853 – that’s a 46% difference in list price between the overall market and the homes that buyers were choosing to buy.
and today, while list prices have come down quite a bit, 16% since 09, we’re still in the same old pickle. The homes for sale are listed at an average of $770,111 – but the homes that are selling are listed at an average of $462,095 – still 40% less than the price of the overall market. So by and large, buyers are still ignoring the higher end.
see thefoothillsToday.com
to find your Tucson Foothills home