Tucson real estate : Oro Valley homes sells for 55% of original 2009 list price

Tucson real estate : 12300 Cloud Ridge closed today for $430,000 ($139/sqft).  That’s 55% of its original 2009 list price. The home was first listed in 2009 for $769,000.  Cloud Ridge is located in the Coyote Ridge subdivision of Oro Valley (near Tangernine & 1st; on the north side of Tangerine). This sale is a reminder of the importance of pricing a home for sale correctly when it is first placed on the market. From Oct 2010 to Oct 2011, overall prices in Oro Valley fell 7%.

Coyote Ridge appears to be a hot nieghborhood right now.  Here is a comparable market analysis of the nieghborhood going back 6 months. You will see over the past 6 months 6 homes have sold with a medium price of $575,000 ($152/sqft). Right now there is only one home in the neighborhood currently for sale.  Wow… looks like demand exceeds supply!

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley & Marna home sales.  Contact Lisa for all your Tucson real estate needs.

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2 Responses to Tucson real estate : Oro Valley homes sells for 55% of original 2009 list price

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