Sabino Mountain Had 8 Sales in 2011

2011 was a challenging year for Sabino Mountain with only 8 sales and prices dipping down to 2003-2004 levels. Final Sales Prices ranged from 231K – 925K. 2012 promises to be a little bit of a nail-biter for Sellers with not much change from 2011, where it may get slightly better or it might get slightly worse.

Right now there is a foreclosure under contract (Pepper-Viner, one story; approximately 2,200 square feet on Saddle Drive)–it probably will be the lowest price home sold in the history of Sabino Mountain. A few years ago the lowest price in Sabino Mountain was in the low 400 thousands. There is a short sale in “The Retreat“, the exlusive 2nd gated area of Sabino Mountain, that is under contract having a List Price of 900K. A few years ago this house would have sold for at least 1.5 million. The final sales prices of houses under contract is not known until they close escrow.

Sellers are very unhappy with the low sales prices they are receiving and buyers are, of course, only willing to pay “fair market value”. Only very serious Sellers should put their homes up for sale in this market. And in order to have a chance at selling their homes they should seek a very experienced agent who knows the neighborhood.

The photo is of 4182 N Quail Canyon that sold in June for 925K; this home previously sold three years before for $1,449,000. This home was listed by Keller Williams of Southern Arizona.

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