Recently some readers of this blog have commented on, or wondered about the number of new homes vs. old, that are for sale or have sold recently in the Tucson Foothills.
Single family homes are listed in the TAR/MLS as either -
SFR, single family residence, indicating a resale home - or SFRNC, for single family residence New Construction. That's the theory, but in practice, many, even most, new construction homes are simply listed as SFR.
So to get an accurate count of how many homes are actually New Construction, one would have to go sifting through each listing to try and determine if it's a new construction home or a resale.
It can be done, but it's really tedious.
Sorry, too tedious for me right now. But this may be even be better, more interesting info. Here's a breakdown, by year built, of the housing stock currently for sale and sold in the last six months in the Tucson Foothills, including the average Sold price and average $/sf for each category.
Homes built 1949 or older
5 currently For Sale
1 Sold
Avg. Sold $ = $1,050,000
Avg. Sold $/sf = $249.70
Homes built 1950 to 1975
80 currently For Sale
46 Sold
Avg. Sold $ = $467,929
Avg. Sold $/sf = $189.59
Homes built 1976 to 1999
310 currently For Sale
126 Sold
Avg. Sold $ = $595,013
Avg. Sold $/sf = $217.54
Homes built 2000 to 2005
86 currently For Sale
37 Sold
Avg. Sold $ = $1,065,723
Avg. Sold $/sf = $268.32
Homes built since 2006
99 currently For Sale
18 Sold
Avg. Sold $ = $943,560
Avg. Sold $/sf = $259.25
No surprise that there are a lot more older homes for sale and selling than newer ones. Older homes have had a big jump start in the Foothills since John Murphey and Josias Joesler began building them in the original Catalina Foothills Estates in the 1930's.
And the number of new homes will shrink even more as time goes on, since there is very little land available to build in the Foothills. Knockdowns is the next phase of building that we'll see.
And as you can see, the new construction in the Foothills leans heavily toward the upper-end of the market. Economics dictates it.
In almost all cases the land is just too valuable to build more modest homes.
And please keep in mind, these are averages, and within all of these categories there are homes that are selling for way more and way less than the average.
see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes
