6284 N Camino De Michael went to contract today listed at $499,000 ($219/sf), the highest $/sf contract in SH in looong time. And it was quick too, just 23 days from listing to contract.
There’s one other home in contract at $479,000 ($159/sf) and 8 sold in the last 6 months.
Of the 8 sold the highest $/sf list price was $204/sf, and from there it drops to $186 > $182 > $168 > $162 > down to $127/sf with an average of $170/sf for that group.
And, interestingly, it’s also the highest $/sf, by $30 – $70/sf, of the 14 homes remaining for sale in Shadow Hills. But Cmo De Michael is nicely renovated and move-in ready.
Shadow Hills has always been very popular, and for good reason. It’s a great foothills location, the lots are larger – 2/3 to about 1 acre, with a variety of home sizes and styles and quiet meandering streets where kids and grownups feel safe walking, biking and gathering. And it’s in District 16.
That said, like much of the Catalina Foothills market, sales in Shadow Hills are slower and inventory is higher than last year. They’re currently sitting on about 10.5 months inventory.
As recently as last August SH had less then 3 MOI in Shadow Hills
6284 N Camino De Michael Tucson, AZ 85718
(listed by Long Realty) link will expire on 4/30/14
