Skyline Bel Air has had nothing short of a stellar year.
21 homes sold this year, with the latest sale at 5960 N Camino Esplendora turning in the highest sale price of the year at $625,000.
+ 1 in contract and 5 for sale = a very lean 2.25 months of inventory.
The average/median sale price is $426,934/$390,000
During the same period in 2012 there were 16 sales,
highest sale price was $505,000
Average/median sale price $357,875/$340,000
So maybe Skyline Bel Air is finally going to have its day.
During the early years of the boom I was predicting that it would see substantial investment by home owners and investors renovating/remodeling its older housing stock. And it started off pretty good but was quickly choked off by the bust, at which time I stuck to it and predicted that someday it would be - the next hot-spot for fixer uppers in the Tucson Foothills – and now that the dust has settled and the market is recovering – at least at the lower end – I’m once again holding to that prediction. And one of these days I’ll be right. The location, location, the good lots and the modest prices are just too good to pass up. And I’ll bet that in the months ahead we’ll see at least a few of those 21 homes that sold this year come up for sale again, but renovated and remodeled, and, of course, at a higher price. Raising the bar is Skyline Bel Air.
It’s while not exactly the type of investment and turnover I was referring to, the sellers of Camino Esplendora purchased it in 1982 for $180,000, and sometime in the recent past did a thorough and very nice renovation and sold it in 15 days for $625,000.
5960 N Camino Esplendora Tucson, AZ 85718
(listed by Tierra Antigua Realty)
see TheFoothillsToday.com
to find your Tucson Foothills home
