The Catalina Foothills

faster & for more $$

That, in a nutshell, describes the Jan/Feb single family home market in the Catalina Foothills this year v. the same 2 months last year. 

this year;
136 homes sold
for $631,500 median sold price
in 13 median days on market

v.

last year
132 homes sold
for $547,500 median sold price
in 32 median days on market

So about the same # of homes sold but this year they sold for 15% more $$$ and did it 59% faster than last year.

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

in contract last week // Feb 15 thru Feb 21, 2021

From Monday Feb 15 thru Sunday Feb 21 -  26 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 3/27/2021)

11 were listed from $295,000 to $590,000
11 from $635,000 to $769,000
 4 from $1,489,000 to $2,195,000

Another robust week for Catalina Foothills Homes Sales!

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

in contract last week // Feb 8 thru Feb 14, 2021

From Monday Feb 8 thru Sunday Feb 14 - 31 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 3/20/2021)

10 were listed from $300,000 to $599,990
11 from $629,000 to $949,900
 7 from $1,195,000 to $1,650,000

 7 homes listed from $1,195,000 to $1,650,000 to contract in 1 week is very big - it almost feels like it's not real. Almost. And there were 2 other homes priced at $1,795,000 and $2,495,000, that went to contract but have since fallen thru and are back on the market - so I don't count them.
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Here are a couple of quick stats to lend some perspective to the $1mil+ home market in the Catalina Foothills.

Since January 1st  31 homes listed from $1,060,000 to $2,250,000 have gone to contract (not including another 6 that went to contract but have since fallen thru). 

So, on the demand side, 31 to contract in about 7 weeks,  vs., on the supply side, just 38 homes for sale at $1million & up - listed from $1,050,000 to $8,995,000. But so far all the action is for homes priced from $1,000,000 up to around $2,500,000 - where there are just 23 homes for sale. A very lean supply.

Last year 86 homes sold for $1,000,000 & UP and that was a very good year - best year since 2007. This year it looks like we're going to have 30 something homes sold in the first 2 months or so.

Take care, stay well. 

see TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 

 

in contract the 1st week of February // Feb 1 - Feb 7, 2021

From Monday Feb 1 thru Sunday Feb 7 - 23 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 3/16/2021)

9 homes are priced from $235,000 to $595,000
11 are priced from $600,000 to $975,000
 3 from $1,145,000 to $1,795,000

*worth noting; 
originally, 29 homes went to contract that week but 6 of them priced from $579,000 to $2,400,000 have since fallen out of contract and are back on the market. So, in the future, if you have your eye on something but someone else beats you to it it may be worth making a backup offer, just in case. Deals fall thru, it happens, even in this environment of ultra-high demand and very low supply.. check out the Market Snapshot to see the number of homes for sale, in contract and sold (in last 30 days) in your price range

Take care, stay well. 

see TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 

in contract the last 2 weeks of January // that's Jan 18 - Jan 31, 2021

From Monday Jan 18th thru Sunday Jan 31st - 41 single family homes went to contract in the Catalina Foothills of Tucson, AZ (85718 & 85750) (link expires 3/07/2021)

Following is the # of contracts broken down into 3 price ranges;
$1 - $599,999 // $600,000 - $999,999 // $1,000,000 & UP. 

17 were priced from $253,500 to $595,000
14 from $625,000 to $920,000
10 from $1,100,000 to $2,250,000

The median DOM (days on market) for this group is 3 days, that's a lightning fast 3 days from listing to sealing the deal with a contract.  

Also notable, 41 in contract in the last 2 weeks of January combined with the 46 homes that went to contract in the first 17 days of January is 87 homes to contract in January alone, with an unprecedented 18 of them listed from $1,100,000 to $2,250,000. 

87 to contract in January alone against a backdrop of, at this moment, just 80 single family homes listed for sale in the entire Catalina Foothills is the strongest sellers market I have ever seen and, I'm betting, that any of us have ever seen (in the Catalina Foothills).

Check out the Market Snapshot - currently the only price range with a decent supply of homes for sale is $2,000,000 & UP.

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

Catalina Foothills Single Family Home Sales for January 2021

If January is an indication of things to come it looks like the Catalina Foothills real estate market is in for another big year.  

82 single family homes are reported sold in the Catalina Foothills this January. 
Here's the breakdown of sales by price;

34 sold from $285,000 to $580,000
32 sold from $619,500 to $980,000
16 sold from $1,050,000 to $2,025,000

The MSP (median sold price) for the 82 sold is $644,000 and they sold in 18  DOM (days on market).. 

Across the board those are big numbers for any month, but for January they're even bigger.  Why?  because many (even most) of those 82 sales are the result of deals (contracts) that were made in November-December and because of the holidays in November-December, usually, fewer deals are made in Nov-Dec.. resulting in fewer sales in January.

Take last January, does anyone remember last January (I don't), in any case 55 homes sold last January (2020) and they sold for $577,000 MSP in 30 DOM.. and, at the time, that looked like a very good January.....and it was.

But 82 sold at $644,000 in 18 DOM leaves last January in the dust and is an impressive start to this new year and to what is traditionally the busiest season (Jan - May) for Catalina Foothills Home Sales.

See them here> 82 SOLD
(the link expires 3/4/21)

Take care, stay well. 

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

in contract the first 17 days of 2021 - January 1 - January 17, 2021

From Friday Jan 1 thru Sunday Jan 17th  46 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/20/2021)

21 were priced from $320,000 to $595,000
17 from $625,000 to $980,000 
 8 from $1,100,000 to $1,650,000

The beat goes on, no stopping to catch your breath in this market. 
But, incidentally, the same was true in January 2020 when  I remarked, 
".... This is a very healthy start to the 2020 market year, very. Usually it's kinda quiet at this time of year - with buyers taking their time, moseying around doing more tire kicking than actual buying. But this year there's an urgency to buy that I have not seen since the glory days of 2004 - 2005 ..." 

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

Catalina Foothills Yearly Home Sales from 2005 to 2020

First up is a quick summary of single family homes sales in the Catalina Foothills for the years 2018, 2019 & 2020.
And following the summary, for a longer term view, there are charts tracking home sales in the Catalina Foothills from 2005 thru 2020. 

# of Homes Sold for up to $999,999
843 Sold in 2020 // that's  up 3.5% from 814 sold in 2019 &  up almost 11% from 761 sold in 2018

# of Homes Sold at $1,000,000 & UP
86 Sold in 2020 // that's up 43% from 60 sold in 2019 & up 38% from 62 sold in 2018

Median Sold Prices
$567,100 is the MSP for 2020 // that's up 14+% from $495,000 in 2019 & up almost 17% from $485,000 in 2018

# of Days on Market
15 DOM in 2020 // that's down 54% from 33 DOM in 2019 & down 58% from 36 DOM in 2018

One more thing. The supply of single family homes for sale in the Foothills is at an all-time low. 
Today there are just 76 single family homes for sale.
In Jan 2020 there were 228 for sale - and that was lean.
Jan 2019 - 305 for sale
Jan 2018 - 304 for sale
So if you're looking and not finding, it's not you. 

There you have it.
2020 was a big year for Catalina Foothills home sales - more homes sold and they sold faster and for more money. 
A Hot market which appears to want to keep going in 2021, but we'll need more homes for sale in order to do it. 

 

And now the historical view, with charts showing sales, sold prices, etc. of single family homes in the Catalina Foothills for each year since 2005..

First up is homes that sold for up to $999,999 - the bulk of the market

Next is homes that sold for $1,000,000 & UP - a market that made a big leap forward in 2020

DOM, how long homes were on the market before going to contract - not very long in 2020


And finally, sold prices are sort of back to where they were in 2006 - on paper they are anyway -
but adjusted for inflation 2006's median sold price of $570,000 would be $735,766 today while the actual median sold price today is $567,100. 

In the future I am going to cut back on the number of years covered in the sales reports and charts, from what has grown to its current 16 years, to a more relevant 4 or 5 years. The reports are going too far back to be meaningful - does anyone really care what the market did 8 or 10 or more years ago.  Yep, the Boom, the Bust, Been there Done that, let's move on..

Best Wishes for a Healthy, Happy & Prosperous New Year!

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

in contract the last 18 days of 2020 - December 14 - December 31st 2020

From Monday December 14th thru Thursday December 31st  34 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/02/2021)

16 were priced from $375,000 to $599,000
10 from $625,000 to $895,000
  8 big ones, from $1,225,000 to $2,500,000

A big finish to what was a very big year for Catalina Foothills home sales

Take care, Stay well

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home 

in contract the last 2 weeks, November 30th - December 13th 2020

From Monday November 30th thru Sunday December 13  42 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 1/16/2021)

15 were listed from $269,900 to $585,000
22  from $615,000 to $995,000
 5 from $1,199,000 to $2,969,000

Interesting, quite a few of the homes in this batch of contracts have been on the market longer than homes that went to contract in previous weeks and months. The question is, why have these homes that have been on the market for --  494, 336, 306, 241, 142, 106,101, 97, 93, 77, 73 .... days on market suddenly become attractive to buyers when they weren't so attractive last month or the month before. 

Sometimes a "special home" takes time to find a buyer of kindred spirit, sometimes the price has to come down, both of which have occurred with some of these homes, and sometimes, like now, there are so few homes to choose from that motivated buyers find it necessary to make more compromises than usual and do the best they can in the current market. With inventory as low as it is that is at least part of what we're seeing. 

Take care, Stay well

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home