The Catalina Foothills

2014, by the numbers

773 single family homes sold in 2014 – DOWN 12.5% vs. 880 in 2013

350 sold in 85718 zip
349 sold in 85750 (scout’s honor)
74 sold in 85704

649 were 1 story homes
124 were 2+ story

154 were from 0 to 2000 sq.ft.
370 from 2001 to 3000 sq.ft.
149 from 3001 to 4000 sq.ft.
56 from 4001 to 5000 sq.ft.
39 from 5001 to 7500 sq. ft.
1 from 7501 sq. ft. & UP (@ 7831 sq. ft.)

58 had 1 - 2 bedrooms
630 had 3 – 4
85 had 5 or more

18 were built from the beginning of time up to 1960
250 from 1961 to 1980
356 from 1981 to 1999
149 from 2000 on

422 had swimming pools
351 did not

231 were in gated communities
542 were not

133 were in Amphitheater School District
428 in Catalina Foothills
212 in Tucson Unified School District

404 were frame stucco construction
81 were burnt adobe, mud adobe or rammed earth
114 were slump block
174 were some form of masonry, stone, concrete, brick or a combination of

14 were short sales
36 were foreclosures

all 773 sold in an average of 103 CDOM (cumulative days on the market)
vs. 99 CDOM in 2013

all 773 sold at an average of 96.2% of final list price (after price cuts, relisting,etc.)
vs. 96.4% in 2013

average/median sold price; 
$$491,938/$400,000 – UP 6%/1.3% vs. 2013’s $463,994/$395,000

average $/sf sold price $169/sf vs. $163/sf in 2013

highest priced sale - $3,700,000 (in the Canyons)
lowest priced sale -  $101,100 (in Northmanor)

highest $$/sf - $706/sf (for the $3.7 house in the Canyons)
2nd highest $$/sf - $356/sf (in the Mountain Estates of Ventana)
lowest $$/sf - $59/sf (a foreclosure in Sabino Vista South)

197 were cash sales
508 were conventional mortgage loans
19 were FHA loans
4 were owner carrybacks
42 were VA
3 were financed by other creative means

And the ‘come from behind’ upset of the year, 47 homes sold for $1,000,000+
vs. 33 sold in 2013.

Happy New Year!

see TheFoothillsToday.com
to find your Catalina Foothills Home

I’m back

And it’s good to be back. It’s cold at the North Pole.

Here’s a brief rundown on what’s happened in Catalina Foothills real estate since I left on December 8.

30 new listings from $214,900 to $3,250,000   (links expire 1/28/15)
Notable is 3252 E Camino Boscaje Escondido, in Cat 10, sold in 2011 for $1,750,000, now asking $2,195,000 ($385/sf).

And, ''The Lee Marvin Residence'', the stunning 7.32 acre Joesler estate of the late actor Lee Marvin is back on the market, now asking $3,250,000. It was for sale a few years ago for $5,850,000, but with 12 acres.

1101 E Calle Elena, a mid-century, now with a partial, modern, redesign/renovation, on 4 acres in Cobo Catalina Hills, $895,000.

24 single family homes, listed from $180,000 to $999,990, went to contract. (links expire 1/28/15)

33 single family homes sold, from $175,000 to $1,400,000 (links expire 1/28/15)
Amongst them, 3565 E VIA ALCALDE, a 2125sf charmer that went for $655,000 ($308/sf) in 16 days. And 4930 N Camino Arenosa, in Flecha Caida Ranch Estates, it went for $775,000 ($250/sf) in 17 days, well above Flecha Caida’s average of $154/sf.

7808 N Ancient Indian Drive in Pima Canyon, got $1,400,000 ($201/sf) in 85 days, from a $1,689,000 list. Previously, it sold for $2,650,000 in 2005. And, perhaps, thinking they got a super deal, they listed it 6 months later for $3,799,000 and eventually sold for $1.6 in 2011.

I’ve also updated the Market Snapshot and the list of homes Just Sold 

And that’s it. More later,

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to find your Catalina Foothills Home

Santa’s little helper,

I’m off to the North Pole and won’t return until after Christmas

So, no blogging and no updating of sales data, I’ll enjoy the break and I hope you do too.

Merry Christmas & Happy Holidays to all

John Schneider

see TheFoothillsToday.com
to find your Catalina Foothills Home

it’s that time of year

the time when sellers want to get their homes listed and out there on the internet for the upcoming winter/spring selling season,

In the last five days 6 upper-end listings and 9 more modestly priced homes hit the market. Though, as always, a few are relisted old listings.

In Cat 10, 4431 N Camino Sumo, showed up asking $1,100,000 ($232/sf). Built in 2004, and never before on the market, it is 4743 sf on 1.7 acres with 4 Beds/5 Baths, no pool, 3 car, and described as “Classic jewel in prestigious Catalina Foothills Est# 10. Located upon a ridge, on 1.7 acres, enjoy gorgeous mountain views from your massive wood entry doors. Custom built in 2004, …” (listed by Keller Williams Southern Arizona)

And another new listing in Cat 10, 3860 E Sumo Noveno, is looking for $1,550,000 ($258/sf) this time around. It sold twice before, first in 2004 for $1,215,000 and then in 2010 for $1,210,000. Coincidence, or someone doing their homework. I think the latter, foothills average/median sold prices for those years are also virtually identical. (listed by Long Realty)

In La Paloma Estates, 3350 E Via Palomita, came on at $1,200,000 ($265/sf). Built in 1994 and last sold for $1,000,000 in 05, it is 4532 sf with 4 Beds/3 Baths, pool/spa, 3 car, and described as, “A GEM!! Beautiful SW contemporary home fully updated and meticulously maintained in prestigious La Paloma Estates. A comfortable, spacious family home …”
(listed by A.W. Marrs Inc.)

And up in Coronado Foothills Estates, 4435 E La Paloma Drive is back on the market with a new broker and a new slightly lower price, now asking $1,245,000 ($330/sf). This is a new spec home, completed earlier this year, described as, “UP A PRIVATE DRIVEWAY IN COVETED CORONADO FOOTHILLS EST. sits this newly constructed home designed & built by notable local architect, William Gansline …” (listed by Long Realty)

And 6155 N Whaleback Place is also back listed at $1,250,000 ($253/sf). It’s a very nice house and I’ve shown it to a few buyers who wanted to see it. And everyone liked the house but none of them cared for its location by the entrance/exit to Ventana CC. And, no doubt, that’s the rub. Described as, “Stunning 2009 Mediterranean in gated, prestigious Ventana Canyon CC. By quality builder Rubicon Homes, this Bill Cassidy designed 5 bdrm, 4932 sqft home offers elegant porte chochere entrance, …”     (listed by Long Realty)

And in Canyon Ranch, 4341 N Desert View Drive, a one owner home built in 2003, and first time on the market, is asking $2,750,000 ($530/sf). 5187 sf, 3 Beds/3 Baths, 2 car, and no pool, but who needs their own pool when you’re in Canyon Ranch. Described as, “A beautiful ''Canyon Ranch'' spa home with high ceiling and huge glass windows to enjoy the stunning vistas. Built with the finest in materials, this soft contemporary, has …” (listed by Long Realty).

See them all HERE

There are now 92 homes listed from $1,000,000 to $13,900,000 in the Catalina Foothills.

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to find your Catalina Foothills Home

Catalina Foothills Home Sales for November

WOW! what a month. Sharply lower sales and Sharply higher sold prices.

This November came in 3rd, for the lowest sales in two years,

Bottom line, YTD Total sales are as follows;
2013  January  –  November  773 homes sold
2014  January  –  November  674 homes sold 

So we’re still trailing last year by –11.5% , but last month we were trailing by -13%, and in August by -19% and  back  in July by -23% . So sales are still down vs.. last year, but they’re closing the gap.

And November also came in with the Highest Sold prices in the last two years. (the median sold was $6k higher in October 2013 but this November’s average was $62K higher, so…)

 

YTD, these are the average/median sold prices.

2013  January – November   $461,591/ $394,500                                   
2014  January – November   $491,832/ $400,000

So, even with November’s sharp rise, prices are still UP just 6.5% average & 1.4% median over 2013. Better than a sharp stick .. but,
The October report is HERE 

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to find your Catalina Foothills Home

in contract last week, 11/24 – 11/30

From Monday November 24th through Sunday November 30th, 14 single family homes went to contract in the Catalina Foothills. (link expires 1/3/15)

11 were priced $220,000 to $525,000
2 from $695,000 to $729,000
1 at $1,695,000

The numbers for the previous week are HERE

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to find your Catalina Foothills Home

in your favorite Catalina Foothills subdivision, 12/3/2014

Activity in the Catalina Foothills market varies a great deal from one area or subdivision to another. And whether you’re buying or selling it’s important to understand the market in the specific areas that interest you. The following chart is a quick guide to supply and demand in some of the more popular subdivisions in the Catalina Foothills.

Included is the # of single family homes currently for sale, the # in contract, and the # sold from September 1st thru November 30th - with the resulting MOI (Months Of Inventory). MOI is a good measure of supply & demand.

Also, click any of the subdivision names to see all the homes currently for sale, along with those that are in-contract as Active Contingent, the first stage of escrow.

Subdivision	# for sale	# in contract	# Sold	MOI
Shadow Hills	7	2	4	5
Skyline Bel Air	5	1	5	3
Fairfield/Sunrise	5	3	6	2.5
Villages of Ventana	2	0	4	1.5
Las Alturas	1	1	3	1
Flecha Caida	12	3	5	7
Coronado Foothills	15	1	4	11
Foothills Clusters	12	2	3	12
Cimarron	9	1	4	7
Catalina Fthls Est 1-9	30	7	12	7.5
Catalina Fthls Est 10	8	1	5	4.8
Sabino Mountain	9	1	8	3.4
Alta Vista	8	0	4	6
Cobo Catalina Hills	4	0	1	12
Bellas Catalinas	2	0	1	6
Cobblestone	7	2	0	?
Finisterra	7	1	1	21
the Canyons	4	0	1	12
Pima Canyon	4	1	2	6
La Puerta	0	0	0	0
Pontatoc Canyon	2	1	3	2
Pinnacle Ridge	1	0	0	?
Sin Vacas	4	0	3	4
Hacienda del Sol Est.	4	0	1	12
Bonita Ridge	3	1	2	4.5
Skyline CC	21	1	1	63
La Paloma CC	28	5	12	7
Ventana CC	30	3	8	11
Totals	244	37	103	7

Looking at MOI, it’s apparent the overall market is doing pretty well - though, with a few glaring exceptions. Some glaringly good and others not. (6 MOI is considered a normal, balanced market. With much less than that it becomes a sellers market - with much more it becomes a buyers market).

For many of the subdivisions noted, for instance, Shadow Hills, Pinnacle Ridge, Foothills Clusters, etc., etc., the supply/demand picture is fairly accurate as shown, because home prices in those subdivisions fall within a reasonably narrow band.

But in others, like Catalina Foothills Estates, Skyline CC, La Paloma, Ventana CC and Sabino Mountain, home prices run the gamut from below $500k up to $1, $2 and $3million or more. And there’s a BIG difference between how $500k homes and $$million+ homes are selling.
So for a more accurate picture of the market, those subdivisions need to be evaluated by price range as well.

Click the Market Snapshot tab at the top of the page for a view of the entire Catalina Foothills market broken down by price range, and you’ll see what I mean.

At this time of year new listings begin to appear in anticipation of the coming winter selling season, which kicks off in January. While at the same time contracts and sales tend to drop during the holidays. So until January/February rolls around we’re likely to see an imbalance in the market, with inventory growing and sales slowing.

To see how things have changed, check out the identical report I did in August -  in your favorite Catalina Foothills subdivision (note, that report covered the 7 1/2 months from Jan 1 to August 15th)

Ciao!

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to find your Catalina Foothills Home