The Catalina Foothills

In Contract Last Week, 5/15 - 5/21/2023

From Monday May 15 thru Sunday May 21,  21 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  (link expires 6/26/2023)

6 were listed from $450,000 to $575,000
6 from $615,000 to $950,000
9 from $1,150,000 to $2,500,000

this is the 2nd biggest week for contracts this year, beat out only by the week of 4/24 - 4/30/2023

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

what'll it be, 85718 or 85750 (May 2023)

This is an update of a blog I originally wrote and posted in 2015 and have updated and recycled it a few times since then.

This new version is tweaked here and there, with the only real changes being the current sales data noted down below.

The Catalina Foothills is divided into two zip codes, 85718 and 85750, with Craycroft Rd the east/west dividing line between the two - with 718 on the west side and 750 east of Craycroft Rd.

Most of the buyers I meet have a preference for one or the other or they soon develop a preference as they investigate the two areas.  And aside from the homes that are for sale in each zip their preference is often based on the look, feel, geographic, topographic, tempo, vibe and convenience features of the two areas - which are fairly distinct.

85718 is more developed with more plazas and a larger and more diverse selection of restaurants, bars, boutiques, shopping and, some would say, more pizzazz. 718 is also closer to Banner Medical Center, The University of Arizona and to downtown Tucson.  And if you’re looking for an older adobe home or a Joesler, you are, with few exceptions, talking about 718. 718 is where John Murphey and Josias Joesler first established the Catalina Foothills Estates, the very first development in the Catalina Foothills in the 1930’s. 718 is also home to more gated communities than 750.

85750 came later and has its own charms and appeal. With its main shopping, restaurant and retail plaza at one location, at Kolb & Sunrise, it is less developed, less busy with fewer vehicles coming and going and with a calmer, more tranquil atmosphere than 718. For recreation and rejuvenation 750  is home to the hard to beat combo of  Sabino Canyon, Canyon Ranch and Ventana Canyon Golf &  Racquet Club.

There are also price differences between the two zips, with more higher priced homes in 85718. And, in general, you may get a bit more home for your money in 750. 

Below on the left side is 85718 with a grand total of 48 single family homes for sale & on the right is 85750 with 45 for sale today, 5/23/2023.

 

BTW, When this post originally appeared in 2015 there were 206 homes listed for sale in 85718 and 192 in 85750..No kidding, 398 homes for sale, the days when you could find a home that you liked, sleep on it and sleep on it again, and it would probably still be there in the morning. Now, dream on..

Here are the sold  numbers for 85718 & 85750.
The number of homes sold from 1/1/2023 - 5/20/2023 along with median sold prices and DOM.

85750
108 Homes Sold // $662,718 MSP // 16 DOM

85718
133 Homes Sold // $815,000 MSP // 18 DOM
    718 MSP is 23% higher than 750

85718 & 85750, they’re both in the Catalina Foothills but the look, feel, tempo, home styles and prices of each offer a variety of different options for foothills living. If you’re new to town be sure to check out both areas.

Thanks for stopping by...

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

see TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 5/8 - 5/14/2023

From Monday May 8 thru Sunday May 14, 14 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750                 (link expires 6/17/2023)

3 were priced from $510,000 to $550,000
8 from $660,000 to $875,000
3 from $1,300,000 to $1,650,000

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In the Foothills Today 5/17/2023

Checkout the Market Snapshot, the inventory numbers are as tight as they've been over the last 2+ years. 

Overall the market has just over 1 month of inventory (MOI) and even at $2M+, which is usually carrying 10 - 20 MOI, is down to just 3+ MOI.

Also;
76 homes sold in the last 30 days at $813,000 MSP for 98%/original list price in 9 DOM

During the exact same 30 day period last year;
80 homes sold at $774,500 MSP for 101%/original list price in 5 DOM

Not too shabby.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 5/1 - 5/7/2023

From Monday May 1 thru Sunday May 7, 16 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750                 (link expires 6/9/2023)

 4 were listed from $440,000 to $575,000
 8 from $665,000 to $995,000
 4 from $1,050,000 to $1,445,000

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 4/24 - 4/30/2023

From Monday April 24 thru Sunday April 30, 23 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 6/03/2023)

6 were listed from $450,000 to $595,000
7 from $659,000 to $839,000
10 from $1,050,000 to $3,295,000

A brilliant week for buyers and sellers - with more homes going to contract than any other week this year

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

2023 - The First 4 Months

The following table shows Single Family Home Sales data in the Catalina Foothills (85718/85750) for Jan - April of each year from 2019 - 2023.
The sales figures represent homes sold by the Realtors® of the Multiple Listing Service of Southern Arizona, the MLSSAZ.

Year	# Sold	MSP	DOM
2023	184	$761,250	16
2022	284	$750,000	5
2021	332	$669,775	5
2020	279	$540,000	23
2019	251	$475,000	41

If you've been following the real estate market for the last couple of years, (and who hasn't) - you've  endured the nonstop blare of rising prices, bidding wars, split second sales with homes routinely selling for over and often way over list price in 2021 thru the 1st half of 2022. If so you would probably be hard pressed to imagine, or believe, that the now cautious and somber outlook of the last 6 - 8 months would produce sold prices that are as high and higher than they were during the height of the covid market buying frenzy. But, so far, they are.

The first 4 months of 2023 has produced the highest median sold price ever for Jan - April. Even with much higher mortgage rates which, historically, have caused sale prices to tumble, the 2023 MSP is up a tad over 2022 and up widely over 2021. And if you bought in 2019 or before, lucky you, you are likely sitting on a tidy nest egg. 

And YES, sales are way down, due to mortgage rates being way up. And that may not change a whole lot until rates go appreciably lower. 

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

see TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 4/17 - 4/23/2023

From Monday April 17 thru Sunday April 23, 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 5/2

6 were listed from $400,000 to $585,000
8 from $695,000 to $999,500
4 from $1,390,000 to $4,650,000

Though fewer than in recent weeks, 4 of the homes that went to contract last week were also just listed last week. All 18 homes went to contract in an unusually high 43 median DOM. The homes that didn't immediately fly off the shelf were on the market 9, 16, 29, 42, 51, 64, 87, 230, 231,193, 223, 246 days.

So quite a mix of slow, medium and fast movers. Kinda like a normal market.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

TheFoothillsToday.com
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

25 Homes Sold in Last 2 Weeks

Homes sold in the last 2 weeks are likely the result of deals that were made from around early to late March with maybe a cash deal or 2 in early April.

Listed	Sold	DOM
399,900	387,500	16
400,000	405,000	45
450,000	445,850	109
445,000	440,000	5
525,000	494,000	138
499,000	499,000	8
495,000	515,000	8
529,900	529,900	6
540,000	530,000	2
540,000	540,000	2
585,000	590,000	7
630,000	650,000	2
699,999	685,000	107
699,900	694,900	2
700,000	700,000	5
795,000	735,000	57
720,900	757,519	193
825,000	816,000	1
1,000,000	937,000	122
949,000	969,000	2
1,100,000	1,100,000	4
1,149,000	1,100,000	28
1,299,888	1,250,000	7
1,700,000	1,593,735	251
1,989,000	2,200,000	40

25 Homes Sold
(link expires 5/23/2023)

 5 Sold at List Price
13 Sold under List Price
 7 Sold over List Price

MSP is $685,000 // in 8 MDOM

$685,000 is a big drop from $770,000 MSP in the March 28 report as well as the $767,500 MSP in the March 6 report. 

What gives. Have prices dropped that much? No they have not. 
In the report shown above 11 homes or 44% were listed and sold for less than $600,000. In the March 28 report just 2 homes or 13% were listed and sold for less than $600,000 and likewise in the March 6 report which had 4 homes or 15% listed under $600,000.
When a high % of lower priced homes sell, like they did in the last 2 weeks, it pushes the median sold price down. And a drop that is based on just 2 weeks of sold numbers - is way too short a time period to draw any conclusions about where prices are headed. 

The good news is that more lower priced home buyers are finding ways to purchase homes in the Catalina Foothills. 

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

TheFoothillsToday.com
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, April 10 - April 16, 2023

From Monday April 10 thru Sunday April 16,  20 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 5/20/2023)

5 were listed from $374,900 to $597,000
7 from $649,000 to $975,000
8 from $1,299,000 to $2,275,000

Once again 11 of the homes that went to contract last week were also just listed last week. Overall the 20 homes went to contract in 15 DOM. 

We're in the thick of our spring season, a time when more buyers are in the market and more homes go to contract. And with the continued tight supply of homes for sale there is increased motivation for buyers to act quickly. 

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

TheFoothillsToday.com
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)