Unfortunately Only 1 House has Sold for over 1 Million in the Past Four and One-Half Years

1 mil

Tierra Antiqua sold one of its agent’s own homes at
4187 N Sabino Mountain Drive for $1,374,000 in April. (See photo above). To find another home that sold for just 1 million dollars you would have to go back four and one half years to find a semi-custom home on Sabino Mountain Drive that had been the TRS Builders’ own home.

You may ask why: the main reason is homes over a million are having a very rough time selling throughout Tucson; in fact, so far this year the Catalina Foothills has had about a 30% drop versus last year in the number of over 1 million dollar + home sales. The homes that would have sold for 1.2 or 1.3 million at the peak of the market are now worth less than a million. However there was a sweet spot in Sabino Mountain in 2013 where there were 6 homes that sold in the very high 700s to the low 900s. Keep in mind for 4 years that price range saw no sales, so we are doing much better. Fortunately this year many of the 1 million Sabino Mountain homes have come off the market; in fact, there is only one over million dollar home on the market now on Tumbling Rock–it is the home at the very end of Sabino Mountain Drive; built by Outpost Builders and originally selling for almost 1.4 million– is now on the market by Long Realty for $1,175,000.