Average sale prices in the Tucson Foothills are off 8.5% from their peak in 2006. $703,616 in 06, $643,700 today.
And for fans of median prices, they're off 8%. $571,000 in 06, $525,000 today.
I like to inject that into the conversation every now and then just to keep things straight and on an even keel.
Even though they're often just individual examples, and sometimes extreme examples, and not representative of the market as a whole, one of the dangers of writing pieces in the vein of falling prices, longer market times and killer deals to be had, is that it can lead to a false (negative) impression of where the market really is here in the Tucson Foothills. And for that I apologize.
Sales are slower, much slower, prices have fallen, and certain slices of the market are more vulnerable than others, some dangerously so. And at their peril, some people still refuse to believe their $750,000 home is not worth a million one. And hey, it's summer, and sales are always slower in summer.
But as you can see from the numbers, prices are holding up pretty well, and all in all it's a walk in the park compared to the major meltdowns in the cities making headlines. And that's a good thing.
see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
