Writing about home sales in the Tucson Foothills last February (what’s selling) I said;
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 is $483,914/$364,000/$164 sf
flash forward to today and,
in the last 30 days 53 single family homes sold in the Tucson Foothills
(and 6 foreclosures this year too) honest
42 sold from $0 to $599,999 (195 remain for sale) = 4.6 months inventory
7 sold from $600,000 to $999,999 (87 remain for sale) = 12 months inventory
4 sold for $1,000,000 or more (74 remain for sale) = 18.5 months inventory
The average/median/$/sf for the sold group is $476,781/$359,850/$164 sf
So déjà vu. Other than a few bucks here and a few bucks there the numbers are incredibly similar, if not identical, from then to now.
But what has changed in the last year, and it is significant, is the number of homes in contract & for sale last February vs. today.
Last Feb there were 484 single family homes for sale and 82 in contract -
today there are 351 for sale and 139 in contract, see yesterday’s post > curious about what’s in contract
That’s 27% fewer homes for sale along with a 69% increase in demand.
That’s not chickenfeed.
to find your Foothills home