4388 N Sabino Mountain Drive, on Sabino Mountain, expired today.
It sold for $842,000 in 2001, when it was brand spanking new, and sold again for $920,000 in 2005. All good so far. But then in May 2009 it was listed for $1,395,000 and guess what happened. Yep, nothing. It sat on the market and expired 6 months later.
Well OK, but then it was listed this past July for a much more approachable $870,000. But still it didn’t sell. And it expired today at $858,000, a measly $181/sf. Why? I don’t know. But I’m guessing the fact that upper-end sales have been lackluster on Sabino Mountain may have something to do with it. A vicious cycle thing.
Since January 1, 2010 there’ve been 41 sales on SM. And that’s a lot a sales.
But 35 of them went for under $600k. The other 5 were over $600k – at $610,000, $620,000, $675,000, $875,000 & $900,000. But 3 of them, including the $875 & the $900k, sold in 2010 and the 4th at $675 in 2011 leaving just the $610 as the highest sale in 2012. That’s it. Lackluster.
And $858,000 is small potatoes. There are 5 homes on SM listed from $1,185,000 to $1,800,000. see> upping the ante on Sabino Mountain
4388 N Sabino Mountain Drive Tucson, AZ 85750
(was listed by Tucson Arizona Real Estate 34)
But it hasn’t always been this way. Back in the rah-rah days homes on SM were routinely selling for $900 to around $1.3 with some higher than that.
So what’s it gonna take,
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