4860 N Paseo Del Tupo, Tucson, AZ 85750 – in Sunrise Presidio Village – sold for $505,000 ($154/sf) from a $529,000 list in 129 days. It last sold in 2002 for $460,000 – so 13 years and the sellers basically broke even. It was also for sale in 2014 for $560,000 and in 2013 for $590,000 & $615,000 and nothing happened. Zillow was close at $521,370.
5732 N Camino Arturo, Tucson, AZ 85718 – Shadow Hills – sold for $510,000 from a $540,000 list in just 65 days. But the sellers paid $520,000 for it in 2014. And prior to that it sold for $605,000 in 2005. Calling it at $503,798 Zillow was on their game.
2651 E Ozona Place, Tucson, AZ 85718 – in Las Lomas De Kino – an enchanting Sante Fe style mud adobe, sold at list price, $545,000 ($204/sf), in 3 days. Having purchased it for $185,000 in 1990 the sellers had lots of wiggle room. And Zillow nailed it at $540,423.
Not so for the sellers of 7020 N Camino De Fray Marcos, Tucson, AZ 85718 – in Vista De Las Candelas - They paid (a lot) $725,000 in 2013 and somehow came to the realization that that was a mistake that probably wouldn’t fly again and listed it for $579,000 and sold it for $546,000 in 97 days – which is the upper end of recent sold prices in VDLC. Meanwhile, Zillow’s algorithm scoped out the sold prices of neighboring homes and came up with $494,988.
Buying at $725,000 in Vista De Las Candelas is, to put it mildly, pushing the envelope.
The vast majority of homes sold since 2008 (42 out of 45 sales) sold in the $200,000 to $500,000 range. The old adage applies – you make your money when you buy not when you sell.
8501 E Solar Place, Tucson, AZ 85750 - Solar Village – started out in January at $825,000 and dropped and dropped again til it hit $695,000 and sold for $675,000 ($166’'/sf) after 147 days. And here again the sellers took a big hit, they paid $945,000 in 2007. Zillow was awfully close at $650,319.
A quick, no pain, pretty good gain sale at 6570 N Silversmith Place, Tucson, AZ 85750 in Silverton. Listed for $725,000 it sold for $700,000 ($184/sf) in 6 days. Clear sailing, the sellers paid $455,000 in 2001, a 54% increase over 14 years. At $703,915 the big Z nailed it again.
2701 E Calle Sin Pecado, Tucson, AZ 85718 – in Sin Vacas – sold for $640,000 in 2004 and for list price, $715,000 ($230/sf) today. On paper, a pretty decent outcome. But between buying in 04 and selling in 15 the sellers did a major remodel - kitchen, baths, floors and more. So they too took a big hit. Zillow muffed it at $384,498.
Talk about prices going nowhere fast - 7137 N Finger Rock Place, Tucson, AZ 85718 – in Foothills ll – sold for $650,000 in 2000 and for $735,000 ($208/sf) today – a 13% increase in 15 years. Zillow was in at $810,463.
And finally, 6755 N Hole in the Wall Way, Tucson, AZ 85750 – in Ventana Canyon Mountain Estates – mentioned HERE the other day.
Two things stand out;
- unlike a few years ago, when many sellers tried to ignore the market and listed their homes at unsellable pie-in-the-sky prices, today’s sellers are stepping up to the plate, facing the music and doing what they have to do to sell.
- and because they are, current Catalina Foothills sold prices are slowly wiping away the excesses of the boom. With the effect that, increasingly, foothills sold prices are being reset to current, more realistic levels – which puts the market on firmer ground - while boom era prices continue to fade into the distant, fuzzy past.
see thefoothillsToday.com
to find your very own Catalina Foothills home
