This may put a smile on your face if you’re seller, and a frown if you’re a buyer. But, like it or not, single family home prices are rising in the Catalina Foothills.
And yes it’s happened in fits and starts, with one month up and the next down, but the trend is pretty clear. After bottoming out in 2012, average/median sales prices are now up 8.5 & 15.5% from Q2 of 2012 to Q2 of 2014. And they’re up from just about every quarter since then.
But, still, they’re nowhere near where they were in 2005 - 2006, or even 2007.
Avg/median sold prices for 2012 were $460,382/$375,000
for 2013 they were $463,994/$395,000
And so far in 2014 they’re at $494,989/$415,000
And these of course are averages, which include both the good deals that buyers made and deals where sellers laughed all the way to the bank. So any individual home may, or may not, fall within the % range suggested by these numbers. And it’s also true that certain segments of the market are doing better than others. Lower priced homes, those under about $800k, are selling nicely, while higher priced homes are not. And if I could slice it and dice it by price I think we’d find that those lower priced homes are carrying the day.
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