Gladden Farms Marana Market Update
So what's going on in Gladden Farms, just five minutes off Interstate 10 North of Tucson, AZ at the Tangerine exit?
Well, Thanksgiving for one! Happy Thanksgiving Marana!!
For the sake of this report, I'm going to include the communities of Gladden Farms and Rancho Marana, since they are just across the street from one another.
Yes, sales have been a bit slow in this area as of late: There have been 76 closings over the past 6 months, with 15 in the past 60 days. As of 11/24/2014, there have been only two closings in November. (11/24/2014) Five have gone under contract this month, however, with a total of 14 in all currently in escrow. Of those 14, 5 are also new construction.
Only two homes have sold at over $250,000 in the past six months, so this is a great community for affordable homes for buyers. Homes are newer--built since 2005, a strong HOA helps maintain great common areas and pride of ownership, and nearby commercial construction hopes to help feed growth in the area.
Sold averages per square foot are just over $94.00 in average - a huge deal in terms of buyer opportunity. Homes listed for sale average $98.60 a square foot. Less than 25% of all transactions involve short sales or foreclosures (distressed sales) so that really helps in terms of appraisal value and estimating worth according to comps. The lower amount of distressed sales helps the conventional listings hold their value.
In looking at days on the market for Gladden Farms and Rancho Marana homes for sale:
50 days to sell for year to date
First quarter 58 days on average
Second quarter 42 days on average
Third quarter 46 days on average
Last quarter to date -- 63 days on average
If you'd like more information about buying or selling a home in Gladden Farms, or Rancho Marana, in Marana, AZ, please call a Marana neighbor -- I'm there. 520-909-2988
If I can assist you in your home buying or selling in Marana, Tucson, Oro Valley, or Vail, please don't hesitate to call me! Email at email@example.com
Cara Marcelle Mancuso, Long Realty,
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