Gosh there are only 4 homes for sale in Sabino Mountain that are not foreclosures. The cheapest is the new listing at Ocotillo Canyon that is ranged – priced from 590-630K. What is happening? It is good news because real estate is always a supply and demand thing, and low supply helps foster demand.
It seems those wanting to live in Sabino Mountain do not desire a “fixer-upper” and that is why the three foreclosures, all listed at less than 400K are not sellling. And those selling above 500K that are custom homes know it is an uphill battle unless the price is aggressive. I see only one listed for sale in the ballpark.
It makes sense if you can not get “real” about pricing your home competitively that you take it off the market. And it is very wishful thinking to think that if you wait until the winter and put it back at the same price, it will sell. Obviously we are not going to appreciate in homes priced above 500K in the next few months, and prices have just begun to stabilize in homes priced below a half-million.
Sabino Mountain has seen 13 sales this year; all but 1 (at 900K on Boulder Canyon), have sold at 439K or below. So it is obvious in what price- range there is action at Sabino Mountain, and the main reason for this is the homes priced over a half-million have been over-priced!
Here is hoping that more drop out and some new ones come up that are priced right! Let’s keep the sales flowing in our coveted community!