15 Mar 2011

Current Market in Sierra Vista Arizona, 01/10/11

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I have people ask me all the time, “What is the market like in Sierra Vista?” Currently I can say that we have one of the most unique markets in Arizona. Sierra Vista, for the first time in history, has a higher median home price than either Phoenix or Tucson. Currently our median home price is about $185,000, whereas Tucson is $150,000, and Phoenix is about $130,000. To me, having been in Real Estate for 13 years, this is truly amazing! We never had the huge “bubble” of course that the bigger cities experienced, but prices are definately down. I can tell you that our median sales price in 2006 was $250,000, so a difference of $65,000 really is a big deal. We still have new construction homes available, and probably less than 10 vacant unfinished homes that have been foreclosed on. In markets like Phoenix they have complete “ghost” subdivisions that are sitting vacant and unfinished. Although, I hear the investors are after these vacant properties hot and heavy lately. We have been experiencing this also, LOTS of investors are now buying and looking for the best deals. To me, this would mean a great time to get yours too, as prices tend to rise when the investors come out to play. Contact me for more information, or to receive “auto e-mails” as they come on the market. I’m always happy to help!

 

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