more evidence of two markets in the foothills

Yesterday I mentioned there's an 11 1/2 month supply of homes for sale below the $649k median list price, while above it, there's a 38 month supply.

Now, looking at the 36 homes sold in the last 30 days
- 29 of them sold below the $649k median, for an average of 94% of list price. 
- and only 7 sold above the median, for an average of just 82% of list price. And 3 of those 7 sales were either lender owned or short sales.

I don't see any way around it - dwindling sales, sky-high inventory and an increasing number of foreclosures and short sales - will continue to drag prices down at the upper-end.

So if you're thinking, ahh, this feels like the bottom, think again.

see thefoothillsToday.com
to search for Tucson Foothills Homes