On April 19th I wrote that in the last 2 weeks 31 homes went to contract at a dismal average list price of $434,266
and one week later, on April 22nd, I wrote that 22 homes have gone to contract in the last 7 days and the average price for those 22 contracts went up, not down, to $567,186
and now, going back to May 1st, 22 homes have gone to contract at an average list price of $600,952 @($176/sf)
Does this mean prices are going up?
No it doesn’t mean that, not at all. But what it does show, is that more higher priced homes, homes above $600k, are going to contract. In this latest go-round 9 of the 22 homes to contract are listed above $600k, including 2 over $1.0. That’s 40%, a much higher share of contracts going to homes above $600k than in the past.
(on 2/12 this year it was 28%, on 11/15/2010 it was 22%,
Given recent market activity, which I’ve been reporting for the last month or so, the real estate market in the Tucson Foothills appears to have taken a positive turn and appears to be gaining momentum and getting stronger day by day.
Is this a flash in the pan? It doesn’t feel like it to me. But we’ll see.
see thefoothillsToday.com
to find your Tucson Foothills home
