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Local Expert: Sam Hughes Neighborhood Sales Analysis

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.

Kent Simpson

Posted by Kent Simpson REALTOR®, CNS®, AHS®, RECS® on 04/14/2008 12:40 AM

Comments (4)

tucson real estate, sam hughes, investing, real estate investment, university of arizona, u of a, students

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4 Comments on Local Expert: Sam Hughes Neighborhood Sales Analysis

Kent: That is very interesting. We lived in Phoenix for 23 years and then Vegas the last 4 years before moving here. I'll bet the Vegas numbers would look very similar

04/14/2008 08:03 AM

by Alan Kirkpatrick Austin Texas Real Estate (Austin Texas Homes)

Thanks for stopping by, Alan. Granted, Sam Hughes is a special neighborhood, but I think if we take a look at most markets in the west, you'll see similar trends. It is easy to get caught up in the "heat of the moment" when looking at real estate investments, but a historical perspective gives us a chance to see a real look at the value.

04/14/2008 10:08 AM

by Kent Simpson REALTOR®, CNS®, AHS®, RECS® (with The Pepper Group™ Diversified Real Estate)

Look at that cost per square foot! I'm very much into the college properties- especially those within walking distance... they do very well regardless of market conditions.

04/15/2008 12:53 PM

by Chuck Willman, Arizona Realtor®, ABR, TRC (Gentry Realty & Investments)

Chuck - thanks for stopping by. Constant & consistent rental base/educated neighbors/proximity to cultural activities/vibrant & active community--college properties are good stuff!

04/16/2008 09:10 AM

by Kent Simpson REALTOR®, CNS®, AHS®, RECS® (with The Pepper Group™ Diversified Real Estate)

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Real Estate Agent: Kent Simpson REALTOR®, CNS®, AHS®, RECS® (with The Pepper Group™ Diversified Real Estate)

Kent Simpson REALTOR®, CNS®, AHS®, RECS®
Tucson, AZ
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with The Pepper Group™ Diversified Real Estate

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