The Catalina Foothills

in contract last week, 2/4 - 2/10/2019

From Monday February 4th thru Sunday February 10th - JUST 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/19/2019)

7 were priced from $299,900 to $500,000 -   after 38 average & 46 median 'days on market' DOM
5 from $618,000 to $650,000 -  after 21 average & 8 median DOM 
1 at $1,550,000 -   after 673 DOM

I say JUST 13 single family homes ... because 13 is unusually low for this, usually busy, time of year. On the other hand the long run of cold, cloudy, damp weather we've been having is also unusual and may have something to do with the lack of activity. Imagine you are a snowbird here for a few weeks to find a warm roost for the winter, and instead you encounter the cold, cloudy, damp weather that we've been having. Could it possibly cause you to reconsider or at least wait to see if the weather breaks and improves. 

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

Catalina Foothills Sold Prices, from peak to trough to now

If you read this blog you have very likely heard that Catalina Foothills single family home prices dropped 31% from their peak in 2006 to their bottom in 2012. And since then (6 years lateer)  prices have risen 25%, resulting in a drawn-out and tepid price recovery.  ($570,000 in 2006 dropped to $390,000 in 2012 rose to $488,000 in 2018)

But the good news is prices rose more in the last 2 years than they did in the previous 4 years - up 6.6% in 2017 & up 9.6% in 2018  v. a total rise of 7% for the years 2012 thru 2016. So the pace of price increases has incresed. 

And those numbers are accurate, but they represent all the homes sold in all areas and subdivisions throughout the Catalina Foothills. And as I’ve also mentioned before, ‘…prices across the foothills do not march in lockstep. Some areas, price ranges and even individual homes, perform better or worse than others’.

So here’s a look at how much better or worse individual subdivisions performed during the peak year 2006 to the bottom in 2012 and then in 2018. The following figures are median sold prices for all single family homes sold in each subdivision during the full year shown.

Under the sold price is the % change from 2006 to 2012 and from 2012 to 2018.      
Click any of the highlighted subdivision names to see all the homes currently for sale. 
** indicates just one home sold

Subdivision	2006	2012	2018
All Foothills Sales	$570,000	$390,000 -31%	$488,000 +25%
Shadow Hills	$633,750	$425,000  -33%	$583,700 +37%
Pima Cyn	$1,766,500	$1,082,500  -39%	$1,150,000 +6%
Sin Vacas	$915,000	$625,000  -32%	$670,000 +7%
Catalina Fthls 1-9	$677,500	$530,000 -22%	$638,500 +20%
Catalina Fthls 10	$1,200,000	$992,500 -17%	$905,000 -9%
La Paloma	$675,000	$417,500 -38%	$522,402 +25%
Cobblestone	no sales	$1,004,965**	$887,500 -12%
Canyons	no sales	2,100,000	$1,550,000** -26%
Hacienda del Sol	$1,200,000	$767,500  -36%	$932,500 +21%
Foothills ll	$1,062,000	$979,750 -8%	no sales
Pinnacle Ridge	$952,500	$651,000 -32%	$779,000 +20%
Skyline CC	$1,000,000	$641,000 -36%	$851,500 +33%
Skyline Bel Air	$597,250	$345,500  -42%	$481,000 +39%
Alta Vista	$1,050,000	$845,000  -19%	$791,250 -6%
Cimarron	$722,500	$435,000 -40%	$490,500 +13%
Coronado Fthls Est	$608,750	$390,000 -36%	$569,000 +46%
Flecha Caida	$528,500	$343,000 -39%	$562,500 +82%
Fairfield	$560,000	$360,000 -35%	$444,500 +23%
Villages of Ventana	$485,000	$341,500  -19%	$398,500 +17%
Ventana CC	$1,036,250	$569,500 -45%	$694,500 +22%
Sabino Mountain	$839,250	$319,950 -62%	$541,500 +69%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold prices sure didn't march in lockstep, they’re all over the lot, both in how far they fell and how much they’ve recovered.
This has been a painfully slow recovery, it's been six years since prices hit bottom and we still haven't gotten back to where prices were 12 years ago. 

One thing is for sure, buyers are much more price conscious these days than they were in 2004 - 2007, much more. Back then, because prices were rising so quickly, buyers were afraid  not to buy. Which lead to rampant price increases that are so far proving to be impossible to attain. 

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

in contract last week, 1/28 - 2/03/2019

From Monday January 28th  thru Sunday February 3rd - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/12/2019)

18 were priced from $218,000 to $525,000
4 from $629,000 to $725,000
and that's it!

hmmm, nothing above $725k

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

 

 

did Catalina Foothills January 2019 home sales suffer from the economic/political & stock market volatility of the 4th Qtr 2018

January home sales are the result of deals made (contracts signed) in November & December and possibly a few in October too. 
So, hmmm, let's see.

49 single family homes sold in the Catalina Foothills in January 2019
(link expires 3/6/19)

They sold - at  median sold price of  $510,000 - at median sold $/sf of $197 - in 58 median days on market

compared to;

50 single family homes sold in the Catalina Foothills in January 2018

They sold - at median sold price of $539,500 - at median sold $/sf of $189 -  in 35 median days on market

compared to;

58 single family homes sold in the Catalina Foothills in January 2017

They sold - at median sold price of  $443,000 - at median sold $/sf of $161 - in 63 median days on market

January 2019 home sales are nothing to be ashamed of, (and are better than I anticipated) but who knows how much better they would have been without the market volatility. 

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

in contract last week, 1/21 - 1/27/2019

From Monday January 21st  thru Sunday Jan 27th - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/2/2019)

17 were priced from $218,000 to $550,000
 3 from $619,000 to $725,000
 2  at $1,249,000 & $1,595,000

With the 2 new contracts at $1,249,000 & $1,595,000 there are now 9 homes in contract listed at $1,000,000 & UP - and 3 of them are located in Pima Canyon - and all 3 are contemporaries. 

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

in contract last week, 1/14 - 1/20/2019

From Monday January 14th  thru Sunday Jan 20th - 26 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/24/2019)

19 were priced from $274,000 ti $599,900
7 from $675,000 to $995,000
and that's it

26 contracts is more  contracts than usual for middle of January. Because while January is the beginning of our high season for home sales, buyers often want to hold off on making deals until February or even March, when more new listings have come to market and they are confident that they've seen everything they need to see before making a deal. 

So, with buyers jumping in like this, I hope it's a sign of good things to come in 2019!


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

in contract last week, 1/7 - 1/13/2019

From Monday January 7th  thru Sunday Jan 13th - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/18/2019)

7 were priced from $355,000 to $525,000
4 from $675,000 to $847,225
1 each at  $1,149,000&$1,599,000

During that same week 34 single family homes were listed for sale; lots of new listings is what it's all about at this time of year, the time when the Catalina Foothills real estate market gets into full swing with more buyers and more homes listed for sale.

Today, there are 307 single family homes listed for sale in the Catalina Foothills - see them all at TheFoothillsToday.com

TheFoothillsToday.com 
to find your very own Catalina Foothills Home

a snapshot of $/Sq Ft Sold Prices in the Catalina Foothills

$/sf sold prices peaked in 2006 at $270 gated and $213 non-gated, and bottomed out at $184 gated and $140 non-gated in 2012.
Since then they have risen 18.5% gated and 27% in non-gated areas.
Yet, after 6 years they are still well below their 2006 prices; 19% below  in gated and 16% below in non-gated areas. 

I squeezed in too much stuff, click the chart to expand it

I squeezed in too much stuff, click the chart to expand it

However, $/Sq Ft Sold Prices rose more in 2018 than in any other year since bottoming out in 2012 -
up 7.4% in Gated areas
up  8.5% in non-gated areas

And while that seems hopeful, if the current political/economic turmoil and uncertainty continues it is sure to have a negative affect on our real estate market. Though, does anyone doubt that it hasn't already.

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

in contract during the 1st 6 days of 2019

From Tuesday January 1st  thru Sunday January 6th - 9 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 2/11/2019)

6 were priced from $249,900 to $599,000
3 from $699,000 to $845,000
and that's it for contracts.    

During that same period 35 homes were listed for sale in the Catalina Foothills and they ranged in price from $243,100 to $2,195,000, including 5 homes listed from $1,119,900 to the aforementioned $2,195,000. 
As of today there are 305 single family homes listed for sale in the Catalina Foothills of Tucson, AZ  
See them all HERE

And away we go!

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

 

2018, by the numbers

817 single family homes sold in the Catalina Foothills of Tucson, AZ in 2018;
that's -9% less than the 898 homes sold in 2017.
Nevertheless, median sold prices rose 9.6% in 2018 (to $488,000) over 2017s median sold of $445,000.

Most Popular Price Range
The most popular price range for single family home sales in the Catalina Foothills was $300,000 to $399,999 - with 186 sales, and those 186 sales equal just under 23% of all the homes sold in the Catalina Foothills single family home market.

The 2nd most popular price range was $400,000 to $499,999 with 171 sales – which equals 21% of the market. So that small slice of the market, from $300,000 to $499,999, represented 44% of all the single family homes sold in Catalina Foothills in 2018.

Most Popular Subdivision
With a whopping 41 single family homes sold in 2018, La Paloma was, hands down, the most popular subdivision. The 41 sales were priced from $265,000 to $1,040,000 and just about every price range in between.

Most Sales at $1,000,000 & UP
It was practically a photo finish
Pima Canyon came in 1st with 10 sales from $1,045,000 to $1,500,000
meanwhile, Ventana CC, with 9 sales from $1,100,000 to $3,250,000, was nipping at Pima Canyon's heels
and Skyline CC came in 3rd with 8 homes sold from $1,025,000 to $2,152,700

And Now, Even More Exciting Data
486 homes sold had private  pools – 331 did not
198 homes sold in gated communities – 619 sold in non-gated areas 
670 homes sold were single story – 147 were 2 or more stories

17 of the homes sold were built from the beginning of time to 1960  (about 2% of all sales)
306 were built from 1961 to 1980   (37% of all sales)
376 were built from 1981 to 2000   (46% of all sales)
118 were built from 2001 to 2019    (14% of all sales)

239 homes sold were cash sales
493 were conventional financing
 9   were FHA loans
53  were VA loans
 6 were owner carryback sales
17 sold with some other creative form of payment

 2 of the homes sold were short sales
10 were foreclosures
                            

That's it for now,
Have a Happy, Healthy and Prosperous 2019                        

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