And a good time to check out single family home sales in the Tucson Foothills for the
1st half of 2011 compared to the 1st half of this year.
2011
342 single family homes sold for an average/median of $482,776/$414,000 @ $164/sf
and they sold for an average of 94.53% of list price* at an average of 161 cumulative days on market.
Looking at those sales broken down by list price;
253 listed from $0 – $599,999 sold (74% of total sold)
64 listed from $600,000 to $999,999 sold (18.7% of total sold)
25 listed from $1,000,000 & up sold (7.3% of total sold)
2012
393 single family homes sold for an average/median of $466,353/$365,000 @ $160/sf
and they sold for an average of 95.26% of list price at an average of 88 days on market.
Looking at those sales broken down by list price;
309 listed from $0 – $599,999 sold (78.6% of total sold)
53 listed from $600,000 to $999,999 sold (13.5% of total sold)
31 listed from $1,000,000 & up sold (7.9% of total)
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So more homes sold in the 1st half of this year but they sold for less $$$.
14.9% more homes sold but they sold for -3.4% average and -11.8% median vs. last year.
And as you can see some of the price drop is due to a higher number and higher percentage of lower priced homes selling this year vs. last (78.6% vs. 74% last year) and a lower number and percentage of mid-market priced homes selling this year (13.5% vs.18.7% last year).
And some of the slip in prices may also be due to home prices still falling in the foothills. Though my sense is that that's pretty much behind us and what’s left, if anything, is relatively small potatoes. That is, except for the high-end, which is still falling and may well have a ways to go.
And a final note, homes are selling quicker this year. So hurry.
Average Cumulative days on the market (CDOM) are down from last year.
At $0 – $500k CDOM was 142 days last year and is 126 this year.
At $600k – $999k it was 196 days and is 166 this year
At $1.0 & up it was 257 days and is 192 this year.
see thefoothillsToday.com
to find your Tucson Foothills home
