Although this blog is focused on the Catalina Foothills real estate market it’s fun, and useful too, to have a peek at how the market’s doing in neighboring areas.
So here’s a peek at,
the Northwest;
priced up to $999,999 there are 1267 single family homes for sale
and 890 homes sold in the last 3 months, which = a tight 4.3 month supply of homes (a sellers market)
priced at $1,000,000 & UP there are 49 homes for sale
and 6 sold in the last 3 months, which = a 24.5 month supply ( which should = a buyers bargain basement bonanza, but obviously doesn’t, because if it did a lot more homes would be selling)
the Northeast;
priced up to $999,999 there are 238 single family homes for sale
and 136 sold in the last 3 months, which = a 5.2 month supply of homes (a fairly balanced market teetering toward a sellers market)
priced at $1,000,000 and UP there are 22 homes for sale
and 2 sold in the last 3 months, which = a 33 month supply (which should = a buyers bargain basement bonanza but probably doesn’t because many high-end sellers can afford to hold out. The questions is, what are they holding out for? and for how long?)
the North, Catalina Foothills
priced up to $999,999 there are 373 single family homes for sale (a pipsqueak compared to the NW)
and 215 sold in the last 3 months, which = a 5.2 month supply of homes, (also a fairly balanced market teetering toward a sellers market)
priced at $1,000,000 and UP there are 81 homes for sale (more than the NW & NE combined)
and 12 sold in the last 3 months, which = a 20.2 month supply - more sold than the NW & NE combined but nevertheless, in theory, it should be a strong buyers market, but, in reality, many sellers are still holding out, so buyers are doing the same)
So even with big differences in the number of homes for sale and sold in each of these areas the months supply of homes is quite similar. And so too that across the board the market up to $999,999 has recovered and is doing just fine, while at $1,000,000 and UP it’s still up for grabs.
search all the homes for sale in the Catalina Foothills
at TheFoothillsToday.com
