Up in the Canyons, 7557 N Secret Canyon Drive, listed at $3,500,000 ($668/sf), went to contract today. We’ll have to wait to find out the contract price, but, just a hunch, I wouldn’t be surprised if it goes for $3mil or more. And if so then it is a big deal, there hasn’t been a sale in the Canyon’s for $3mil since 2007 when 2 sold at $3.2 & $3.8. And others have tried but none have succeeded.
The next highest sale was $2.6 in 2008. And after 08 there wasn’t another sale until 2011 and 2012 – with 2 sales each year, but at drastically reduced prices.
Like this drastic:
Started at $3,250,000 ($585/sf) - Sold at $1,400,000 ($252/sf)
Started at $5,000,000 ($722/sf) - Sold at $1,850,000 ($267/sf)
Started at$3,800,000 ($610/sf) - Sold - $2,150,000 ($345/sf)
Started at $4,500,000 ($622/sf) - Sold - $2,050,000 ($283/sf)
And that’s not to say that 7557 hasn’t taken its lumps. It debuted in October 2010 at $5,500,000.
We’ll see.
7557 N Secret Canyon Drive , Tucson, AZ 85718
(listed by Russ Lyon Sotheby’s Intl Realty)
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