The Catalina Foothills

in contract the last 2 weeks, August 31st - September 13th, 2020

From Monday August 31st thru Sunday September 13th 37 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 10/19/20)

27 are priced from $279,900 to $595,000
 8 from $685,000 to $999,995
 2 at $1,400,000 & $1,425,000

4 other homes went to contract during those 2 weeks but they have since fallen out. At times like this, when the supply of homes is low and the demand is high, one of the unfortunate results is that buyers sometimes rush to put homes in contract before they've had time to carefully consider their choices and decisions.  And some of those hasty decisions result in buyers canceling their contract once they've had time to look things over more carefully. It's the market we're in. 

Take care, Stay well

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

Faster and for More $$$ - Catalina Foothills Home Sales Jan 1 thru August 31st 2020

The following charts track the number of single family homes sold, median sold prices and days on the market in the Catalina Foothills of Tucson, AZ for the period of January 1st thru August 31st of each year from 2005 to this year, 2020. 

The home sales, sold price numbers and days on market are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the # of homes sold for up to $999,999, which represents about 92% of the Catalina Foothills Single Family Home Market. No significant increase or decrease in sales, pretty much on par with the last few years.

Next up is the # of homes sold for $1,000,000 and UP - so far, more sold this year than any year since 2007. 
And the $1.0mil+ market is still going strong, there are 17 homes listed at $1,000,000 and UP in contract. 

Breaking all records, single family homes at all prices are selling faster this year than at any time in the last 15 years  - faster even than during the real estate boom of 2004 - 2006. 



And median sold prices are up %12.5 over last year -
and at $557,000 they are within a hairs breadth of the all time high of $560,000 in 2006.

The only thing this market is lacking is more listings, more homes for sale. 
For a closer look at the Foothills market, broken down into 8 price ranges, check out the Market Snapshot, 

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

in contract last week, August 24th - August 30th, 2020

From Monday August 24th thru Sunday August 30th - 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ
Worth noting, 23 homes went to contract that week, but 5 of them fell out - I don't include homes that go to contract and fall out before I post the numbers - not sure what caused it but 5 homes falling out of contract in 1 week is more than usual.

 9 were priced $365,000 to $555,000
 7 from $649,000 to $858,000
 2 at $1,050,000 & $1,295,000

Stay well, Take care,

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

in contract the last 2 weeks, August 10th - August 23rd, 2020

From Monday August 10th thru Sunday August 23rd - 42 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/24/2020)

22 were priced from $325,000 to $599,999
16 from $600,000 to $997,500
 4 from $1,099,000 to $2,100,000

Take care, stay well.
 
see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

the Catalina Foothills real estate market then & now

Lately I've been going on about the very low supply of homes for sale coupled with the still strong demand - still being, in this difficult time. And also for this time of year (summer is usually our slowest time).  So I thought it might be helpful and add some perspective to look back at how the numbers for this summer compare with summers from past years.

And because it captures a  moment in time I thought the Market Snapshot would be a good way to do it. I started posting the Market Snapshot in 2013 and I save each one as screen shot so that  I can look back and see exactly what the market was doing during almost any month and year from 2013 to now.

The following screen shots are of the Market Snapshots that I posted on the date noted in the upper left corner of each screen shot. Also, prior to this year the Market Snapshot included 5 price ranges, and starting this year I upped it to 8 price ranges - hence August 2020 is more detailed that the others. 

Across the board the MOI (months of inventory) is startlingly low this year --- (6 MOI is considered a normal, balanced market. Much less than that and it veers into a sellers market - whereas, with much more it becomes a buyers market) ---  at 1 to 2 MOI we are in a red hot sellers market. In August ...no less.

Why?, not because so many more homes are selling this year, nope, they are not. They're selling faster and for more $$$ but  just about the same number of homes are selling this year as sold in 2019, 2018 and 2017 - the issue is there are many fewer homes listed for sale this year. YTD 568 sold this year, 576 sold 2019, 564 sold 2018, 582 sold 2017,

Why so many fewer listings ... well, I can't answer that absolutely. But I think it's a pretty good guess that many would-be sellers are not listing because they don't want strangers walking through their homes at this difficult time. And, also, if their foothills home is a second home and their primary residence is in a more crowded and congested place they may be thinking about trading places and making Tucson their primary residence.  

And away we go, Market Snapshot data from past August/Septembers

 

Take care, stay well.

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

in contract last week, 8/3 - 8/9/2020

From Monday August 3rd thru Sunday August 9th - 27 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/13/2020)

11 were priced from $270,000 to $579,000
11 from $600,000 to $899,900
 and get this, 5 from $1,095,000 to $1,999,000 

an extraordinary number of  $$million++ contracts for any time of the year, but unheard of for August
and all 27 went to contract very fast - just 16 MDOM - median days on the market 

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

they're selling faster and for more $$$ - Catalina Foothills home sales this year

The following charts track the number of single family homes sold, median sold prices and days on the market in the Catalina Foothills of Tucson, AZ for the period of January 1st thru July 31st of each year from 2005 to this year, 2020. 

The home sales, sold price numbers and days on market are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the # of homes sold for up to $999,999, which represents about 93% of the Catalina Foothills Single Family Home Market. No real increase or decrease, pretty much on par with the last few years.

Next up is the # of homes sold for $1,000,000 and UP - same thing, more or less holding its own with recent years. 

Days on the Market -
they're selling faster this year than at any time during the last 15 years. 
The chart is based on median days on market from Jan 1 - July 31 of each year. 

And finally median sold prices of single family homes sold in the Catalina Foothills, with a big jump this year - UP 11.6% over last year and UP 45% since hitting bottom in 2012.

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

in contract last week, 7/27 - 8/02/2020

From Monday July 27th thru Sunday August 2nd - 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/3/2020)

 
8 were priced from $314,000 to $599,900
7 from $614,000 to $885,000
3 at $1,495,000 and another $1,495,000 & a biggie at $3,495,000

If this keeps up the $$million+ market may finally pull out of its slump this year, imagine, this year, of all years...

this slump


Take care, stay well.

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

in contract last week, 7/20 - 7/26/2020

From Monday July 20th thru Sunday July 26th - 15 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 8/28/20)

5 were priced from $375,000 to $599,000
8 from $625,000 to $909,000
2 at $1,150,000 & $1,325,000

this is the lowest number of weekly contracts since the week of April 20th when just 11 homes found buyers
Hmmm?

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

Catalina Foothills Home sales this year, last year and the year before

The following sales numbers are for single family homes sold in the Catalina Foothills of Tucson, AZ from January 1st thru July 20th of 2018, 2019 and good old 2020.

First up is homes that sold from $1 up to $999,999

Year	# Homes Sold	Median Sold $$	Median CDOM
2018	450	$475,000	35
2019	467	$475,000	35
2020	444	$534,750	22

Median CDOM = Median Cumulative Days On Market

Sales this year are down just -5% from last year - did anyone expect sales to hold up that well - I sure didn't.
And, even more unexpected, prices are UP 12.5%, and no one I know claims to have seen that coming either.
Other than this years big jump in sold prices and drop in days on market it is also remarkable (to me) that everything else is so similar, nearly the same, across the last 3 years - with all that has and is happening this year. 

And then there's the $1,000,000 & UP niche market - also holding its own thru thick and thin. 

YEAR	# Homes Sold	Median Sold $$	Median CDOM
2018	36	$1,267,000	105
2019	32	$1,324,383	55
2020	32	$1,232,500	47

Coincidentally, this morning in Bloomberg I saw the following chart showing declining sales in various locales around the world.

Take care, stay well.

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