with single family home prices in the Tucson Foothills
We’ve heard all the talk that home prices are recovering across large swaths of the USA and that some areas are even at or near where they were at their peak. Unfortunately that’s not true in the in our little neck of the woods. And if you’ve followed this blog you know that the “recovery” in prices has actually been rather limp, and certainly nowhere near its peak.
But just as some locales across the US are recovering better and faster than others, or may not have slumped as much to begin with, the same is true in different areas of the foothills.
So to get a better handle on prices, instead of glumping the foothills all together, in the table below I’ve focused on individual subdivisions, showing average sold prices for the peak year of 2006, the trough (we think) in 2012, and where they are now, or were most recently in 2013, when they finally stopped, or at least paused, going down.
(as a benchmark, the first line of the table shows average sold prices for all foothills homes.
The first number in the % change is the change from peak to trough, and the second is from trough to now – though, as you’ll see, some areas were still seeing falling prices in 2013, and therefore may not have reached bottom in 2012. Or maybe they just had an off year, it happens.
area | 2006 | 2012 | 2013 | % change |
All Foothills sales | $681,442 | $460,382 | $464,204 | -32 / +1 |
Shadow Hills | $641,393 | $436,962 | $454,914 | -32 / +4 |
Pima Cyn | $1,849,533 | $1,207,382 | $1,108,529 | -35 / -8 |
Sin Vacas | $979,250 | $687,458 | $581,214 | -30 / -15 |
Cat Fthls 1-9 | $784,527 | $561,704 | $594,466 | -28 / +6 |
Cat Fthls 10 | $1,205,000 | $1,080,107 | $646,500 | -10 / -40 |
La Paloma Est | $1,962,400 | $1,148,000 | $1,211,000 | -41 / +5 |
La Paloma (not Est) | $706,513 | $479,171 | $511,507 | -32 / +7 |
Cobblestone | no sales | $1,004,965 | $1,013,571 | ? / +1 |
Canyons | no sales | $2,100,000 | no sales | ? |
Hac del Sol Est | $1,300,000 | $822,500 | $920,000 | -36 / +12 |
Foothills ll | $1,062,500 | $1,119,875 | $900,000 | +5 / -20 |
Pinnacle Ridge | $965,833 | $643,786 | $732,130 | -33 / +14 |
Skyline CC | $1,170,455 | $681,571 | $578,091 | -42 / -15 |
Alta Vista | $1,019,770 | $863,583 | $798,417 | -15 / -8 |
Cimarron | $681,583 | $487,257 | $439,901 | -28 / -10 |
Fairfield | $586,052 | $354,460 | $402,090 | -39 / +13 |
Villages of Ventana | $451,729 | $331,300 | $365,500 | -27 / +10 |
Ventana Golf Villas | $605,878 | $357,877 | $460,429 | -41 / +29 |
Ventana CC, Cyn Est, Whlbck. | $1,329,740 | $1,067,900 | $768,400 | -20 / -28 |
Ventana Cyn Mountain Est | $2,091,833 | $1,700,000 | $1,375,000 | -19 / -19 |
Sabino Mtn | $864,550 | $347,369 | $537,653 | - 60 / +55 |
No surprise that the really popular lower to mid priced subdivisions are showing the strongest price recovery – Shadow Hills, Cats 1-9, La Paloma (not including the Estates), Pinnacle Ridge, Fairfield, Villages of Ventana. Surprisingly though, Cimarron has not made a comeback and Hacienda del Sol and the Ventana Golf Villas have. I would have bet just the opposite. But the golf villas are a relatively inexpensive ticket to living the Ventana CC lifestyle, and while they are recovering nicely, the rest of Ventana, which is a much bigger ticket, appears to be stuck in reverse. Skyline CC, Canyons, Sin Vacas, Foothills ll, flip a coin.
Net-net, now if we could only eliminate those underperforming high-end communities, presto, we’d also have a shot at double digit price gains.
see thefoothillsToday.com
to find your Catalina Foothills home