46 single family homes sold in the Tucson Foothills in the last 30 days and there are 346 for sale (the lowest inventory in years)
36 sold from $0 to $599,999 (199 for sale)
5 from $600,000 to $999,999 (74 for sale)
4 from $1,000,000 to $1,499,999 (36 for sale)
1 from $1.5 to $1,999,999 (18 for sale)
nothing from $2.0 & up (19 for sale), (though there is one house in contract for over $2.0 that will close escrow tomorrow - the first $2.0+ sale since July and only the 2nd sale all year at $2.0 or more)
average/median sold price for the group was $461,961/$367,500
As always months of inventory is all over the lot; overall for the Foothills it’s 7.5 months.
But see how it breaks out by price range;
from $0 to $599k there is a 5 1/2 month supply
while at $600 to $999k it’s 15 months (way up from last month)
and at $1.0 to $1.499 were looking at 9 months of inventory (way down from last month)
at $1.5 to $1.999 it’s 18 months
and at $2.0 & up there haven’t been any sales
Sales and prices during this 30 day period were different from the previous 30 days, not better, not worse, just different'. See for yourself > supply & demand in the Tucson Foothills
One thing’s for sure, this coming January thru June – our in-season - will be an interesting one for upper-end home sales. The lower end is doing well and has been for some time, and though the middle is still struggling somewhat it is, I believe, not far from turning the corner on sales. And even at $1.0 to $1.3mil or so, sales have shown some real life lately.
It’s at $1.5 that things really start to fall apart, and the higher you go the worse it gets.
And at the $1.5 to about $4,000,000 there are spec homes for sale, spec homes that have been on the market for a long time, yet no one has shown any interest in them.
That can’t go on forever. It wouldn’t surprise me if this season is the last hurrah.
see thefoothillsToday.com
to find your Tucson Foothills home
