in the last 30 days 56 single family homes sold in the Tucson Foothills
(6 foreclosures in that group)
42 sold from $0 to $599,999 (274 remain for sale) = 6.5 months inventory
10 sold from $600,000 to $999,999 (123 for sale) = 12 months inventory
4 sold for $1,000,000 or more (89 for sale) = 22.5 months inventory
The average/median/$/sf for the sold group was $483,914/$364,000/$164
So the under $600 thou group is now within a hairs breath of being in a “normal”
(6 month) inventory situation. While the mid market, which still has a ways to go, has also improved quite a bit just recently.
And, believe it or not, at $1,000,000 and up we’re also seeing more sales than we have in a long while. (4 sold in the last 30 days, while just 9 sold in the prior 5 months). Also a factor is that new high-end listings have been a bit thinner than might be expected for this time of year, contributing to a 3 or 4 year low of just 89 homes for sale at a million and up.
But that relatively cheerful news is only true for those homes priced under
2 million. Why, because in the last 6 months just one home sold for over 2mil, and that one just squeaked by at $2.1.
Meanwhile there are 27 for sale at 2 million and up – which, if I do the math, works out to 162 months (or, does 13.5 years sound better) of inventory.
see thefoothillsToday.com
to find your Foothills home
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