As I mentioned the other day we’re going through a quiet time in Catalina Foothills real estate, the time between the end of summer and the start of the fall-winter selling season. And, except for the lower-end of the market, (which never takes a break) there’s not much action.
Though there are some new listings popping up as sellers and their agents prepare for the hoped for onslaught of the upcoming season - should it actually materialize.
We’ll see, but for now, here’s why I call it our lop-sided market.
Right now there are 434 single family homes listed for sale at a median list price of
$549,000. The median is the middle price point, and there are 218 listed up to the median of $549,000 & 216 listed above it.
And in the last 90 days 214 homes have sold; 158 sold up to the median list of $549,000 & just 56 sold above $549,000.
So while there are an equal number of homes for sale above and below the median list price, the lower half is selling almost 3X as many homes as the upper half.
The MOI (months of inventory) up to $549,000 is very lean at about 4 months, while above $549,000 it’s closing in on 12 months inventory.
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