I’ve been anxious to see how our hot market is effecting list price to sale price ratios and how quickly homes are selling. And I wanted to see how the market is impacting actual individual homes, not statistics, not %’s of this or that. And I wanted it to be limited to homes that were listed and sold this year, so that it would reflect how both sellers and buyers are approaching the market this year.
So I pulled everything listed this year that went to contract and sold this year, and, voila, here’s what I found.
5532 N Star Canyon Court, Tucson, AZ 85750, listed for $269,900 went to contract in 3 days and sold for $268,000.
3901 E Vía Del Verdemar, Tucson, AZ 85718, a patio home with mountain views in La Paloma, listed for $314,900, it went to contract before it hit the MLS and sold for $324,900, yep $10k over list.
7744 E McGee Mountain Road, Tucson, AZ 85750, listed for $450,000 it went to contract in 8 days and sold for $450,000.
6608 N Calle Padre Felipe, Tucson, AZ 85718, listed for $494,000 it went to contract in 3 days and sold for $495,000.
4774 N Coop Canyon Place, Tucson, AZ 85750, listed for $529,000 it dragged it out to 7 days before going to contract and sold for $529,000.
This home, along with 7744 E MccGee Mountain Road, up above, are both in the Shadows of Sabino subdivision. $529,000 is the highest price paid for a home in the Shadows of Sabino since 2008 – and during that time 68 homes have sold in there.
4940 E Calle Guebabi, Tucson, AZ 85718 in Skyline Bel Air, listed for $545,000, went to contract 6 days later and sold for $540,000.
4920 N Post Trail, Tucson, AZ 85750, in Sunrise Territory Village, listed for $650,000 it went to contract its first day on the market and sold for $650,000.
No doubt this is a small segment of the market. There are many other homes that were listed this year that have gone to contract but not yet sold and there are others that are still for sale, that have not gone to contract.
Nevertheless, including the above examples, there are many indications that increasingly we are moving to a sellers market, that is, up to about the $700,000 to $800,000 price range. Above that, according to the numbers anyway, it’s still a buyers market.
Stay tuned, we will continue to evaluate the market and report the results here.
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