2007 Sabino Mountain Half Year Sales Stats are an Anomaly

A review of the (only) five sales in the first six months of 2007 at Sabino Mountain is a surprise!  The price ranges of the five that sold are from $820,000 -$1,350,000. Equally surprising is there are only two that are presently under contract - one is the builder of Outpost’s own home at 4202 N Quail Canyon that is listed at $1,295,000 (listed by the Seller’s daughter at Coldwell Banker), and the other is listed by me (Long Realty - Foothills) at 4348 N Ocotillo Canyon  at $440,000. I am the only agent that has sold a smaller home in Sabino Mountain in 2007. WOW! How can that be? My opinion is that many Sellers listed their houses too high and as a result, got no bites. Now there are more than a few that have reduced their prices to represent fair market value, but it is late in the game, and now it is hard to be ahead of the pack. It is always best to list the house at fair market value in the beginning, and if you do this, you usually end up netting more than you would have had you made periodic price reductions when it does not sell. Either some listing agents are not giving good pricing advice or some Sellers are not following their agent’s advice. The market is changing to a neutral market for Foothills houses priced under 750K, but it is important that the price represent fair market value and show well. The market is in continual flex and as a result, a good agent continually checks new houses that are listed for sale that are in competition to your house and update you if there needs to be a price adjustment. The best case scenerio for those who have had their houses listed for a long time is to price your’s better than the competition. 

This entry was posted on July 17, 2007 at 6:15 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.