The Catalina Foothills

Catalina Foothills Home Sales Data Jan - July / 2018 - 2022

Hello and Welcome,

The following charts track the single family home market in the Catalina Foothills of Tucson, AZ and include the number of homes sold, median sold prices (MSP) and days on market (DOM) for the period of January 1st thru July 31st of each year from 2018 thru 2022.

All of the data is based on sales thru the MLSSAZ (Multiple Listing Service of Southern Arizona) and represents all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up  a chart showing the number of homes sold for up to $999,999, which now comprises a shrunken 73% of all the homes sold in the Catalina Foothills. For years, decades, until the latter half of 2020, home sales up to $999,999 comprised +/- 90% of all the homes sold in the Catalina Foothills. The market up to $999k had recovered slowly but steadily from the collapse in 2008 and was doing just fine. But with Covid on the rise fewer sellers were willing to list their primary home and, as the market tightened, they realized that if they did sell they would have an awfully tough time finding and affording a replacement home. All of which led to a shortage of homes for sale, amidst a surge in demand, resulting in fewer sales, bidding wars and rising prices. And more recently the rise in interest rates and the fall/volatility of the stock market continue to put a deep dent in affordability for many buyers. 

 

 

On the other hand sales at $1,000,000 & UP are Way UP and now represent 27%
of the Catalina Foothills market. Of course many of the homes now selling for $1mil+ crossed the line into $1mil+ territory as a result of sharply rising prices during the last couple years.  

 

And here is a look at those sharply rising prices - up 40% since 2019 and 12+% since last year at this time. 

Days on Market remain lower than ever! - Why? because buyers are still feeling the need to move fast to get the home they want. 

 

At the risk of boring repetition I will risk it and end with the same message I left last month

While the above sold numbers are still very strong, the July numbers represent deals that were made 30 - 60 or more days ago - and therefore represent what the market was 30- 60 days ago not what it is today.

On the street, the escrow officers, home inspectors, termite and roof inspectors and others who are involved in the day to day business of supporting the foothills real estate market, their businesses have slowed and they are less busy now than they were back in May > April > March and before. 

It's also summer and traditionally the market slows down in summer. Why wouldn't it, it's too %%@$ HOT.

Stay cool

Please contact me if you have a question or would like my help navigating the Catalina Foothills real estate market.
Thanks for stopping by. 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

Median Sold Prices, Q1 2021 - Q2 2022 + July 22

 

Go figure, they're still going up

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract last week, 7/25 - 7/31/2022

From Monday July 25 - Sunday July 31 - 9 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 9/2/2022)

3 were priced from $439,500 to $599,000
5 from $715,000 to $825,000
1 at $1,500,000

another weak week for contracts, but those that did go to contract went quickly, in 9 median DOM - a few more days than at the height of the frenzy but still way faster than any year prior to 2020.

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract last week, 7/18 - 7/24/2022

From Monday July 18 - Sunday July 24 - (just) 9 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 8/26/2022)

3 were priced from $750,000 to $969,000
6 from $1,100,000 to $2,750,000

And that's it.
Nothing priced under $750k went to contract - (can you believe that) could be the 1st week ever with no contracts at the lower end of the market. And it doesn't appear to be from lack of supply, there are 44 homes for sale priced from $407,500 to $740,000 and they have been on the market for 28 median days, and counting, looking for a buyer.

And once again the DOM has risen substantially, it's 24 DOM for the 9 that went to contract - when, the week before last it was 10 DOM for the 11 homes that went to contract.

On the other hand homes priced from $1,100,000 to $2,750,000 had a jolly good week. 
There's no doubt (in my mind) the market's changing, fewer contracts, longer market time to get to contract, regular and growing number of price cuts when, until recently price cuts were seldom seen, few, if any, bidding wars, haha long gone what else?

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

recent list and sold prices, Catalina Foothills Homes :July 2022

The following are the list and sold prices of the 26 single family homes that sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) from July 6th -  July 19th, 2022 thru the Tucson Association of Realtors® MLSSAZ (Multiple Listing Service of Southern Arizona)

the highlighted green numbers are the homes that sold for over list price

Listed	Sold
360,000	360,000
452,000	459,000
480,000	495,108
535,000	562,000
595,000	625,000
625,000	591,000
650,000	700,000
729,000	750,000
760,000	806,500
795,000	770,000
799,000	775,000
825,000	825,000
900,000	970,000
925,000	925,000
975,000	975,000
1,095,000	1,100,000
1,100,000	1,095,000
1,100,000	1,075,000
1,100,000	1,050,000
1,199,000	1,075,000
1,225,000	1,403,075
1,495,000	1,815,000
1,550,000	1,542,300
1,595,000	1,425,000
1,695,000	1,675,000
1,750,000	1,600,000
1,750,000	1,700,000

 

26 homes sold July 6 - July 19, 2022
(link expires 8/20/2022)

11 (42%) sold for over list price
 4 (15%) sold at list price
11 (42%) sold for less than list price

More facts & figures for the period of July 6 - July 19 for 2022, 2021, 2020, 2019

2022
26 sold for $875,000 MSP in 6 DOM
8 (30%) were cash sales

2021
43 sold for $710,000 MSP in 6 DOM
19 (44%) were cash sales

2020
38 sold for $542,500 MSP in 21 DOM
8 (21%) were cash sales

2019
29 sold for $503,192 in 85 DOM
 7 (24%) were cash sales

Click Here, to have a look and compare Julys Listed/Sold numbers with those from May, when 59% sold for over list and 48% sold for cash... those were the days.

Thanks for dropping by

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

in contract last week, 7/11 - 7/17/2022

From Monday July 11 - Sunday July 17 - 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 8/19/2022)

2 were listed from $490,000 to $599,000
4 from $630,000 to $799,000
5 from $1,070,000 to $1,750,000

just 11 in contract, and once again the DOM has crept up, now up to 10 DOM for this group - which is still very quick, just not as quick as it's been

and price cuts, which until recently were seldom seen, are becoming a regular feature of "what's happening in the foothills market"
- 19 price cuts last week

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

in contract the last 2 weeks, 6/27 - 7/10/2022

From Monday June 27 - Sunday July 10 - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 8/11/2022)

4 were priced from $420,000 to $599,000
12 from $620,000 to $895,000
 6 from $1,185,000 to $2,595,000

they went to contract in 7 median DOM, 2 days longer than it's been for most of the previous 18 months, perhaps another sign of the market softening. 
For more on the state of the market check out the Market Snapshot.  It too shows signs of a softening market, nothing earth shatteringly different, but fewer contracts and sales and an increase in the number of homes for sale leading to a slight increase in the months of inventory (and that's a good thing) v. a few months ago. But stir that up with the typical seasonal slowdown we see at this time of year and, so far anyway, it looks like a pretty gentle softening. 

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

Catalina Foothills Single Family Homes Sales Data January 1st - June 30th / 2018 - 2022

Hello and Welcome,

The following charts track the single family home market in the Catalina Foothills of Tucson, AZ and include the number of homes sold, median sold prices (MSP) and days on market (DOM) for the period of January 1st thru June 30th of each year from 2018 thru 2022.

All of the data is based on sales thru the MLSSAZ (Multiple Listing Service of Southern Arizona) and represents all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is a chart showing the number of homes sold for up to $999,999, which now comprises 73% of all the homes sold in the Catalina Foothills. For years and years, until the latter half of 2020, home sales up to $999,999 comprised about 90% of all the homes sold in the Catalina Foothills.
The market up to $999k had recovered slowly but steadily from the collapse in 2008 and was doing just fine. But with Covid on the rise fewer sellers were willing to list their primary home and, as the market tightened, they realized that if they did sell they would have an awfully tough time finding and affording a replacement home. All of which led to a shortage of homes for sale, amidst a surge in demand, resulting in fewer sales, bidding wars and rising prices. And that shortage of homes for sale remains to this day - checkout the Market Snapshot for a snapshot of the current  supply & demand in the Catalina Foothills market. 

 

On the other hand sales at $1,000,000 & UP are Way UP and now represent 27% of Catalina Foothills home sales v. the paltry 8% - 10% of the market $1,000,000+ sales occupied for years.

--The high-end home building/selling frenzy of 2004 - 2007 peaked in 2006 with126 homes sold for $1,000,000+
-- then sales dropped to 92 sold in 07, 56 in 08, 40 in 09 and that was pretty much it for high-end sales, leaving a big supply of unsold high-end homes, many of them spec homes, losing value, dropping prices, going to short sale & foreclosure month after month year after year.

The high-end market never recovered from its collapse in 2008, that is until cash carrying Covid buyers started arriving in mid 2020. And as the demand for high-end homes grew high-end owners began listing their homes,(many of which were 2nd homes) which fueled the buying frenzy and the rapid rise in prices - up 40% +/- since then. And homes that were in the $700k range pre-Covid are now well into the 7 figure range.

The supply of home is still very low, too low for the demand, which continues to support higher prices

homes continue to go to contract quickly because there is very little to choose from, and when a good one comes along buyers pounce on it

And while the above sold numbers are still very strong, the June numbers represent deals that were made 30 - 60 or more days ago - and therefore represent what the market was 30- 60 days ago not what it is today.

On the street, the escrow officers, home inspectors, termite and roof inspectors and others who are involved in the day to day business of supporting the foothills real estate market, their businesses have slowed and they are less busy now than they were back in May > April > March and before. 

It's also summer and traditionally the market slows down in summer. Why wouldn't it, it's too %%@$ HOT.

Stay cool

Please contact me if you have a question or would like my help navigating the Catalina Foothills real estate market.
Thanks for stopping by. 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract last week, 6/20 - 6/26/2022

From Monday June 20 - Sunday June 26 - 12 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 8/1/2022)

1 was priced at $500,000 
7 from $600,000 to $925,000
4 from $1,099,000 to $1,650,000

another week with a small number of contracts, though they did go quickly, in 5 DOM 
they continue to go quickly because the inventory is still very low, very little to choose from, and when a good one comes along buyers pounce on it

stay tuned, little by little the market is changing... 

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

the market

the Catalina Foothills real estate market is changing, how could it not. Blame it on the rise in interest rates, the falling and volatile stock market, rising inflation, the war in Ukraine and other unsettling world events. 

After more than 18 months with the number of homes for sale running from the low 60's to the mid 80's, which was down about 60 - 70% from normal pre-covid numbers, in the last 10 days or so the inventory has started creeping back up, and today there are 117 single family homes for sale - more than at anytime since November 2020. It's small but it's a start. 

More homes are getting listed even though it's June, one of most unlikely months for new listings. So why now, I'm guessing that some sellers who were on the fence about selling are now, faced with uncertainty about the future, jumping in before it's too late.

Since June 1st 37 homes listed for sale in the MLS had a price cut, whereas, and here I'm going from memory so ..., from January 2021 thru this April, price cuts were about as frequent, and therefore as memorable, as 75° days in June. The MLS does not make data available on price changes beyond the previous 45 days. 

Recent Sold #'s // Sold June 1 - June 24 / 2021 & 2022
June 2021 - 77 homes sold at MSP of $735,250 in 6 DOM
June 2022 - 50 homes sold at MSP of  $832,497 in 4 DOM 

So sold prices appear to be holding up and DOM are staying down
But for both last June and this June the contracts for those sales were made in April - May, with maybe one or two in early June - and therefore the sold numbers reflect where the market was in April - May, not where it is today.  

And perhaps most telling, almost none of the homes listed in the last  few weeks have the showings and seller response times structured to create the silent auction scenario that was so popular last year and earlier this year -- when it was common to see listings with variations of this language;
ALL OFFERS WILL BE REVIEWED ON 2-10-22. BUT SELLER RESERVES THE RIGHT TO ACCEPT AN OFFER PRIOR TO 2-10-22, SO HURRY! 
or this >offers will be reviewed Sunday Jan 16th at 4pm Please offer highest and best and Include an as-is addendum with the offer. or >> Highest & best Offers being accepted until 1/24/22 at noon and seller will review and respond by 1/25/22 at 6pm. Note house is being sold AS IS, buyer understands that seller will NOT do ANY repairs.

Those were the days, 6 to 10 or more offers, many over list price and more than ever before homes were being sold as-is, no repairs. And now, those days are not quite gone but they're dwindling quickly. Good riddance.

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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