Currently there are 19 homes for sale in Pima Canyon with an average asking price of 402.09/sqft. Only 3 of there homes are below $1mm.
Problem is, only 3 homes have sold in, in Pima Canyon, over the past 6 months with an avg. selling price of $324.52/sqft. Two of the homes that sold had a price reduction of over $1mm.
At the current rate of sales, there is approximately 3 years of inventory!!
Supply and demand are not in line.
Unless the market quickly changes, prices will have to bettter reflect demand if sales are going to happen!
Tucson Real Estate Agent, Lisa Bayless, specializes in Tucson Foothills homes and Oro Valley homes