Five Have Sold this Year

If you include the two under contract–List Prices 750K and 875K (final sales price unknown until closing but almost always lesser than the list price) and the three that have closed escrow–365K and 502.5K (sold by me) and 640K, Sabino Mountain has seen 5 sold this year. What is most interesting is that it hits many price ranges with little at the bottom or the top of the price ranges of typical Sabino Mountain homes for sale. What is good is the middle of the price range houses seem to be selling well. However, other than the one priced at 365K the other homes that have sold have shown no evidence of appreciation from the price they would likely get when prices bottomed a few years ago. The only price range that has seen a little appreciation is the price range of homes that would be priced in the 300 thousands and in that price range the appreciation is likely to be 5-8%. Hopefully in the future we will see some more signs of appreciation in the higher price ranges. Certainly it is a great time for buyers with low interest rates to also be had, but it is a tough time for sellers who have waited a long time for appreciation to come to no avail. Many of these Sellers have finally just ate the bullet to move on to where they want to be.