a snapshot of the Tucson Foothills home market, 9/29/11

There are 357 single family homes for sale in the Foothills today,
44 sold in the last 30 days and at the moment 77 are in contract.

here it is broken down by price range,

Price	# for sale	# sold	# in contract
$0 – $599	224	36	56
$600 – $999	67	4	13
$1.0 to $1.499	36	4	*6
$1.5 – $1.999	14	0	1
$2.0 & up	16	0	**1
	357	44	77

*(3 are distress sales)  **(a short sale)

Months of inventory (MOI) are as follows;
foothills overall is 8 months (357 ÷ 44 = 8.1) which is up from last month (lower is  better)

But as usual, looked at by price range it’s a very different story.

$0 – $599 is 6.2 MOI (very good but also up a tad from last month)

$600 – $999 is 16.7 MOI (way up from last month)

$1.0 – $1.499 is 9 MOI (way down from last month)

$1.5 – $1.999 with no sales and therefore no way to measure MOI, let’s just say it’s going to take a while,

$2.0 & up, ditto

We’re continuing to see the effects of the market slowdown that began in early August, some of which we expected – because August is August and it’s always slow – and some of which we didn’t, because we didn’t see the economic turmoil/uncertainty/stock market tumble/volatility that came roaring along in early August until it hit us over the head. And it continues to dampen home sales.

For comparison here’s Last Month’s numbers,

see thefoothillsToday.com
to find your Tucson Foothills home

Comments

[john schneider]

Thank you Karen, I'm very pleased to hear that my observations on the foothills market are informative & helpful to you.
JS

[karen cave]

John, Your website/feature articles are a great resource. Not to mention the articulate and realistic way you have of telling it like it is. Thank you for keeping "us" informed and educated. When it comes time to take the plunge and sell our lovely home, you're the guy.
Karen Cave
Tucson, AZ