Gosh, August is supposed to be slow for the Tucson luxury housing market, but those 1 million plus buyers are smart and they know the Summer is the best time to buy in Tucson. The snowbirds are no where to be found and that increases their odds of getting a great deal!
Here are the sales for August 1 – August 19, 2009:
List Price: $1,040,000 Ventana Canyon (foreclosure)
List Price: $1,060,000 Alta Vista
List Price: $1,175,000 Alta Vista
List Price: $1,295,000 Naranja RIdge Estates (NW Tucson) (Short Sale)
List Price: $1,900,000 The Foothills II (Short Sale)
Closed Escrow Homes (Sold):
$1,050,000 Santa Cantalina Estates
$1,087,500 Stone Canyon (NW Tucson)
$1,120,000 Shadows Hills
$1,232,000 Catalina Foothills Estates
$1,300,000 Ventana Canyon
$1,386,000 E. Talante Canyon Pl (NW Tucson) (Short Sale)
$2,100,000 Pima Canyon
It should be noted that many “Short Sales” do not make it to close of escrow; however, E. Talante Canyon Place did close in August. It is much easier to purchase a “Foreclosure” than a “Short Sale”. In a “Short Sale” the lender has to approve the usually vast amount the Seller comes in short, whereas in a “Foreclosure” the lender has already taken back the house and is motivated to quickly sell it.
All houses are North Tucson, except those as noted as Northwest Tucson.
Homes under contract have an unknown final sale prices, and most of the time the list prices are higher than the final sales prices.