The Sam Hughes Neighborhood in Tucson, Arizona is one of the city's most desirable areas. The combination of location: right across from the University of Arizona, and historic homes makes for a solid real estate investment. The mix of professionals, families and U of A students nurtures a dynamic yet peaceful neighborhood with trendy shops and eateries along its periphery.
I analyzed sales over the past 15 years to provide a statistical snapshot of the area:
First Quarter 2008 Sales show the average home selling in Sam Hughes is 2366 Sq Ft at a price of $216 per square foot for an average sales price of $511,222. The price per square foot is down 3% from last year, but as more homes currently on the market sell, those figures will change.
What the history of the neighborhood show over time is a pattern of sharp rises mixed with moderate losses and above average gains. The average of 10.7% per year price increase over 15 years outperforms most stocks and shows a solidity over time.
Also notable is the increase in size of homes in the neighborhood. Given the historic designation, there are very few new homes in the area. What the square footage increase shows is add-ons to present dwellings, another indication of value.
While other areas in Tucson show different results, common wisdom in town proves to be true: Investing in Sam Hughes real estate is a smart place to put your money.
Specializing in Buyer & Seller Representation in the Tucson, Arizona real estate market.
All original material written by Kent Simpson unless attributed to source.©2011, 2010, 2009,2008,2007
"Never forget - Real Estate Is About People"
