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Category Archives: Tucson Real Estate news
Long Realty’s April Housing Report, Foothills Market
Below find a link to the April Housing Report, from Long Realty, for the Foothills.
This report provides up to date information, pricing, inventory, sales among others. This is one of the most comprehensive reports, on the Foothills housing market, that I am aware of.
Distressed sales is Arizona
Distressed sales (foreclosures and short sales) continue to drive residential real-estate prices down. Arizona has been, one of the states, hit hardest by the flood of distressed home sales and consequently the decline of the housing market. The good news is, there is a silver lining to the storm clouds of the past. Since Arizona has already processed a flood of distressed home sales, it is expected to eliminate its future inventory faster than other states Continue reading
Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news
Tagged Foothills homes for sale, foothills luxury home sales, oro valley home sales, tucson housing market, tucson luxury home sales, Tucson luxury homes
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Foothills luxury home originally listed for $3.9mm, sold for $1.8mm
6959 N Javelina Tucson, in Skyline CC, was originally listed for $3.9mm in 2007. Since then the home has been on and off the market and has had numerous price reductions.
Today the home closed for $1.8mm.
This is just one more example of the luxury market’s adjustment to current market conditions. Continue reading
Months of Inventory for the Foothills & Oro Valley
Months of Inventory (MOI) reflects the time period required to sell all the properties on the market given the number of closed transactions in the preceding month, provided no new product becomes available. This is an excellent benchmark to show the velocity of transactions in relation to the market inventories. This measurement is a broad one and will vary (in some cases dramatically) by price range, location and type of property.
Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate news
Tagged Foothills homes for sale, foothills homes sales, foothills luxury home sales, months of inventory foothills, months of inventory oro valley, oro valley home sales, oro valley homes for sale, Oro Valley homes sales, oro valley housing market
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Good deals in La Paloma
Currently, there are some fantastic deals in La Paloma.
There are 26 homes for sale in La Paolma with an average asking price of $607k ($217/sqft). Interestingly, in the past 6 months 11 homes have sold in La Paloma with an average sale price of $571k ($217/sqft).
There is a lot of value to be found in La Paloma now! Continue reading
2011 1st Quarter Market Update
Below find the 1st quarter (Jan.-Mar.), 2011 housing results, for the Foothills and Oro Valley. I have compared the 1st quarter 2011 results to 2010, to provide an overview of the market’s current condition compared to last year.
Oro Valley March 2011 Housing Report
As of March 2011 active inventory was 493, an 11% increase from March 2010. There were 53 closings in March 2011, 12% below March 2010. Months of Inventory was 9.3, up from 7.4 in March 2010. Median price of sold homes was $235,000 for the month of March 2011, down 18% from March 2010. Oro Valley had 54 new properties under contract in March 2011, down 31% from March 2010. Continue reading
Foothills March 2011 Housing Report
As of March 2011 active inventory was 759, a 3% increase from March 2010. There were 100 closings in March 2011, 2% below March 2010. Months of Inventory was 7.6, up from 7.2 in March 2010. Median price of sold homes was $285,000 for the month of March 2011, down 19% from March 2010. The North area had 108 new properties under contract in March 2011, up 27% from March 2010. Continue reading
3 Cheers for Catalina Foothills Estates 10!
3 Cheers for Catalina Foothills Estates 10!
April 2011, has been a good month for Catalina Foothills Estates 10; a subdivision located in the Foothills off of Hacienda Del Sol.
So far, in April 2011, there have been two homes that have sold for more and $1million in all of the Foothills and Oro Valley. Both were in Catalina Foothills Estates 10!!!
4655 Placita Roca Blanca, built in 2007, sold for $1,525,000 ($317/sqft). 3252 E Camino Boscaje, built in 2008, sold for $1,899,900 ($314/sqft).
That’s good for the market and very good for Catalina Foothills Estates 10!
1st $2 million plus home sale in 2011!
Finally some good news for the luxury housing market! The Tucson area had its first $2 million plus home sale. The home, a foreclosure built in 2009 on 4 acres, is located in Saguaro Ranch in Marana and sold for $2.1 million. That’s $288/sqft.