today in Pima Canyon

Like much of the rest of the Foothills real estate market things have also improved in Pima Canyon.

7 homes sold in PC in the last six months and there 14 for sale – making for a nice tidy, and much improved, one year supply of homes for sale.

A little over 2 years ago I wrote > there are now 26 homes for sale in Pima Canyon, 11 of which are spec homes. And there have been just 2 sales in Pima Canyon in the last 6 months - and nothing under contract  <
26 for sale and 2 sales in six months = about a 78 month supply (6.5 years) of homes.  And last June there were 20 homes for sale equaling an 18 month supply.

And though I expect there are a couple in the pipeline,  there are no foreclosures for sale in PC either. They’ve all sold.

But, of the  14 homes for sale, 6 are priced from $1,995,000 to $4,250,000, a range that has not seen much action.

see thefoothillsToday.com
to find your Tucson Foothills home

Comments

[john schneider]

I hear you bigdaddy, about a month ago in > the high-end market in the Tucson Foothills < I said - And just as the upper-end was able to hold out longer, but not forever, against foreclosure than your average home owner, the higher end, which has hung on so far, may soon begin to topple. There are still about 20 homes for sale at $2.5 & up, with very little action in the last couple of years. And more than a few are specs too.
JS

[bigdaddyJ]

It's interesting that the two (I believe) spec homes in Pima priced over $4-million are still holding out for that price/those prices, considering so many of their similarly priced peers wound up going into foreclosure and then getting sold for below $2-million...must be a combination of denial and deep pockets, because as beautiful as many of the top of the line homes in Pima Canyon are, the comps over the last two years really no longer justify those asking prices they are still hanging on to...