Here's a snapshot of what's happening right now in the Tucson Foothills real estate market. The following data is for activity during the past 14 days for single family homes in the Foothills.
1. 536 homes for sale in the foothills today priced from
$205,000 to $6,000,000. Price-wise it breaks down like this-
151 priced $0 - $500k, 256 at $500 - $1.0, 70 at $1.0 - $1.5,
31 at $1.5 - $2.0, and 28 at $2.0 & up.
2. Based on current inventory & sales we're a tad over 10 months
of inventory overall in the Foothills, but that figure varies wildly
depending on price range. Higher $$$= higher months of inventory.
3. 24 Sold, priced from $287,500 to $1,640,000
4. 27 have gone under contract priced from $249,000 to $1,595,000
5. 60 price reductions, from $219,900 to $2,779,000
6. 43 new listings, from $219,900 to $3,975,000
But many of these new listings are not really new. But rather are
homes that were previously listed, then either withdrawn or
or expired, and then re-listed, which then show up as a
new listing and often with a new (lower) price.
August is usually a slow month for real estate in the Foothills, and this one is no exception, with one exception. As I've noted previously there's been a spike in the action for spec homes priced above $1.0. Because that little slice of the market is fat with inventory that's been sitting around for a while, and based on recent sales, appears to be ripe for good deals.
see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
