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:

Under Contract:

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.

Other Notes:

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.