3460 E Cathedral Rock Place showed up today as a new listing in Cobblestone, joining 8 other homes trying for a sale up there – many of which have been at it for many moons. Meanwhile there’s been just one, el cheapo, for Cobblestone, sale in 6 months and there’s nothing in contract. And Cobblestone is a beautiful community with incredible views in a great foothills location. So what’s the problem.
The current lineup in Cob starts at $749k then jumps to $1.1 and on up to $1.6. – which, on the face of it, is very much inline with other luxe gated communities in the foothills.
Yet 16 homes priced from $1.1 to $1.6 have sold in other communities in the foothills in the last 6 months – and they sold from $1mil to $1.450. But, and here I think is the catch, most of them (13) were built from 1999 or later and 7 were built from 2005 or later.
While 8 of the 9 for sale in Cob were built from the early/mid 80’s to the mid 90’s, and many of them retain features (kitchens/baths, etc) reminiscent of that era. And most buyers spending a million$$ or more want more up-to-date stuff and are not looking to sign-up for a remodeling or renovation project, but if and when they do they’re doing so with a very sharp pencil.
And, by the way, 3460 Cathedral Rock appears to have been updated/remodeled, so we’ll see if that makes the difference.
For sale in Cobblestone
(and listed by various brokers)
see thefoothillsToday.com
to find your Catalina Foothills home
