The Catalina Foothills

in contract last week, May 16 - May 22, 2022

From Monday May 16 thru Sunday May 22 - 17 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750
(link expires 6/24/2022)

3 were priced from $340,000 to $489,000
7 from $750,000 to $995,000
7 from $1,000,000 to $1,800,00

with temps nearing the triple digits, most snowbirds gone, the stock market still flailing its way down, interest rates still rising, those 17 homes still  managed to go to contract in 7 DOM... a slight increase in DOM from recent weeks

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)

 

very low chance of Tucson home prices dropping

that's  according to a recent study real estate research firm CoreLogic did for Fortune of 392 US markets.

In Arizona, Tucson, Phoenix, Flagstaff and Sierra Vista - Douglas are all rated Very Low (0 - 20%) chance of home prices dropping, whereas Prescott and Lake Havasu City ranked Very High chances (Over 70%) of prices dropping

Read all about it >> The odds of a home price correction just spiked—this interactive chart shows if your local housing market is at risk

 

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, May 9 - May 15, 2022

From Monday May 9 thru Sunday May 15 - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718/85750
(link expires 6/18/2022)

7 were priced from $420,000 to $590,000
7 from $603,500 to $925,000
5 from $1,125,000 to $2,300,000

still going quickly, they went to contract in 5 DOM

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 Home Sales at $1,000,000+

In the last couple years home sales at $1,000,000+ have risen from being a rather puny 6 or 7 % of all single family homes sold in the Catalina foothills to almost 20% sold last year...

Year	# Homes Sold All Prices	# Homes Sold $1,000,000+	% Sold $1,000,000+
2016	828	53	6.4
2017	898	53	5.9
2018	823	62	7.5
2019	876	60	6.8
2020	930	86	9.2
2021	962	183	19

and so far this year, thru May 15, 317 homes sold including 87 that sold at $1,000,000+ thereby raising the % of homes sold at $1,000,000+ to 27%.  A formidable chunk of the market. 

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

Take care, stay well

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

 

Zillow's Zestimates

Millions of home buyers and sellers look to Zillow for guidance on the value of their home or on a home they may be interested in buying. And so I was more than a little disappointed to discover that my beautiful new listing at 5441 E Gleneagles Dr in Skyline CC, priced at $2,495,000, and in my opinion worth every penny, had a $1,763,020 zestimate on Zillow. That's miles apart and being that far apart is not a good first impression for buyers who may be interested in the home.

It was apparent to me, what else could it be, that Zillow had no knowledge of the extensive renovation and remodel my clients had done in the years they owned it. So I wrote to Zillow, summarized the work that was done and got the detailed list of improvements and the new floorplan into their hands.

Bingo! in just a few days Zillow updated the zestimate from $1,763,020 to $2,539,900 with a zestimate range of $2.41M - $2.84M.

All's well, Thank you Zillow, for the quick response and the properly updated zestimate. 

 

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

Take care, stay well

see 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, 4/25 - 5/08/2022

From Monday April 25 thru Sunday May 8 - 35 single family homes went to contract in the Catalina Foothills of Tucson, AZ (85718/85750) (link expires 6/09/20222)

6 were listed from $435,000 to $565,000
20 from $625,000 to $995,000
9 from $1,050,000 to $2,499,999

And they went to contract in 4 DOM.. Yep, they're still going fast
But how long can that last.
With the stock market falling, substantially, and interest rates rising, quite a bit, I can't imagine that the numbers won't soon begin to reflect those events. 
And today I see in MLS, for the first time in a long-long time, 6 homes listed for sale had price reductions -  price reductions have been almost unheard of during  the last 18 months.

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

Take care, stay well

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

"On the Beach in Malibu"

"On the Beach in Malibu" is my pet name for this spectacular property, in my opinion it is the Catalina Foothills version of being "On the Beach in Malibu" 

6941 N Finger Rock Pl Tucson, AZ 85718

$2,750,000

Endless Views
4,438 sf /1.15 acre lot
6 Bedrooms/4 Baths
3 Car Garage

It is my listing and my clients have decided that if it is not in contract in the next 10 days or so they will be taking it off the market before the end of May. So if this property is of interest to you please know that the window of opportunity will be closing soon. 

At >> https://www.houzz.com/hznb/projects/tucson-foothills-renovation-pj-vj~816558 << Gene Kniaz, the founder of Spiral Architects offers valuable insights into the goals and tasks involved in the renovation of this property - at the houzz site click the photos of each room for Gene's description of each room.

The following photos highlight key areas of this home, there are many more photos, and more information in the listing - 6941 N Finger Rock Pl, Tucson, AZ 85718

 

 

 

There are many more photos and all the detailed information in the listing 
6941 N Finger Rock Pl
Tucson, AZ 85718

$2,750,000

Endless Views
4,438 sf /1.15 acre lot
6 Bedrooms/4 Baths
3 Car Garage

If you are not working with a Realtor®/real estate agent and would like some help navigating the foothills market, or with just this home, give me a call, let's talk and see how I may be able to help you. 

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

Take care, stay well

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

 

Catalina Foothills Single Family Home Sales Jan 1 - April 30, 2022

here's a look at how the Catalina Foothills single family home market has performed from January 1st to April 30th of each year from 2018 to 2022
(DOM = days on market / MSP = median sold price)

Year	# Homes Sold	# Sold Cash	% Sold Cash	MSP	+/- % MSP v Prior Year	DOM	# Homes For Sale
2022	283	119	42%	$750,000	+12%	5	+/- 65
2021	332	119	36%	$669,775	+24%	5	+/- 81
2020	279	66	24%	$540,000	+14%	23	+/- 226
2019	251	79	31%	$475,000	+0.4	41	+/- 322
2018	278	89	32%	$473,500	+6%	34	+/- 341

the 119 cash sales in 2021 & 2022 is correct, not a typo
Big price jumps that took off in 2020 jumped even higher in 2021 and while they're still rising this year they're doing so more moderately - though in any normal market a 12% price jump would be considered exorbitant.  And home sales are down 15% this year, why, because the # homes for sale is down lower than ever before and there is just too little to choose from.
So, you're still sitting pretty if you're selling, and it's still a frustrating, tough nut to crack if you're trying to buy. 
However, keep in mind that sales are based on deals that were made to 25 to 45 days before the sale closed. 

For a snapshot of current activity in the Catalina Foothills Single Family Home Market check out the Market Snapshot 

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

Take care, stay well

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

Remodeled to Perfection for Modern Living in Skyline CC

I recently listed 5441 E. Gleneagles Dr in Skyline CC, a stunning casual-contemporary home that has been beautifully and thoughtfully renovated to offer the modern conveniences and design aesthetics of a new home while maintaining the classic attributes of its original design. This home perfectly blends traditional elegance with modern comfort and convenience. Along with tall ceilings, an abundance of large windows and glass doors, the natural light-filled open floor-plan offers functional and stylish upgrades throughout. 

The renovation/remodel and upgrades were so substantial, complete and well done that the Pima County Assessor upgraded the effective year built to 1992 from the actual build date of 1974 - which speaks clearly to the quality of the renovation/remodel. 

5441 E. Gleneagles Dr / Skyline CC
$2,495,000

6,086 sf including a 782 sf guest house with living area, kitchenette, bedroom & bath. 
5 Bedrooms/5.5 Bath
One level, no interior steps
3 car garage

Be sure to click the Documents tab in the listing for a detailed list of the renovations performed by the current owners. 

If you are not working with a Realtor®/real estate agent and would like some help navigating the foothills market, or with just this home, give me a call, let's talk and see how I may be able to help you. 

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

Take care, stay well

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

in contract last week, 4/18 - 4/24/2022

From Monday April 18 thru Sunday April 24 - (just) 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ (85718/85750) (link expires 5/29/2022)

2 were priced at $575,000 & $599,000
6 from $725,000 to $940,000
3 from $1,325,000 to $3,975,000

and that's it, a slow week for contracts, slower than any week (that I can remember) since April 2020 when the market tanked due to the arrival of covid-19. What's causing it dip now - hmmm .... could it be that buyers are sick and tired and frustrated by the low supply of homes for sale and the now commonplace bidding wars for the few that are for sale and are drifting away from being active buyers ....how about the sharp rise in interest rates, the wabbly stock market, rising inflation... what else?  And it's not just last week, April has been slower than it was before

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

Take care, stay well

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