Home and land prices are sure to begin rising in Sonoita very soon. If you are shopping for a home in Sonoita, I would suggest starting to shop in earnest now. I think the statistics that follow will clearly demonstrate that the market is hot and thus the prices should start to rise.
With 36 homes sold through the Tucson Multiple Listing Service in the first 6 months, 2017 is headed towards being one of the best years ever! (During the downturn, there were years when the whole year total was not this many units.) The homes sold ranged from a $40,000 mobile in Patagonia to $575,000 home on 42 acres in the Rail X Ranch Estates. The average price was $311,501 and the average price per square foot was $153. The small negative in all this was the time on the market of 303 days, approximately 10 months.
At 42 parcels sold, land sales were greater than home sales. This is what our market used to be like so it is encouraging to see a more “normal” market returning. Prices ranged from $20,000 for a2.29 acre parcel in Papago Springs to $384,000 for a 70 acre parcel in Tunnel Springs. Median price per acre was $8,000 which is encouraging to sellers. However, like home sales the average time on the market was very high, 448 days!
I’m looking forward to a continued strong market for both homes and land. If you are ready to look, please give me a shout. I’d love to show you around and help you purchase that perfect property!
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