we have these very nice charts and graphs to help illustrate this years trends in Tucson Foothills Real Estate.
This first one shows the average price changes on homes that sold between Jan 1 – April 28. (the columns represent avg price changes as a % & the line is avg price changes in $$’s)
As always, these figures are for single family homes in the Catalina Foothills.
So far, the homes that sold in February had the biggest price cuts - 10%, on average, or $-72,773 - VS April, when the homes that sold averaged just 2.8%, or $-15,000, in price cuts.
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And this 2nd chart, also for Jan – April, illustrates the Sold Volume/month (the columns) as well as the Average List price of Sold Listings (the light line) & the Average Sold price of Sold listings (the dark line) What fun.
So interesting, isn’t it, how in Feb we saw both the steepest price cuts on homes that sold and also the highest average sale price($586,262).
On the other hand, the homes that sold in April had the smallest price cuts and the lowest average sale price($515,136).
So does that mean that bigger price cuts lead to higher $$ sales & smaller cuts to lower $$ sales. Or is it just a coincidence that it happened that way during this Feb & April.
And the much higher sales volume for March, more than $38 million, was due to many more homes selling in March than in the other months. The question is, why did more homes sell in March.
63 sold in March, 38 in Jan, 30 in Feb & 43 in April. Why.
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