From Monday February 16th through Sunday February 22nd, 22 single family homes went to contract in the Catalina Foothills.
18 were priced from $225,000 to $575,000
4 from $615,000 to $659,000
0 for anything above $659
Meanwhile, there are 217 homes listed for sale above $659.
With fewer contracts at the upper-end and new listings still pouring in the inventory is piling up. See the Market Snapshot for the latest. But even the market snapshot figures, while true, are misleading.
For instance, for homes listed from $1.0 to $1,499,999 there were 3 sales in the last 30 days.
Good goin’ and absolutely true, there were.
But one was listed at $1million and closed at $925k, another was also listed at $1million and closed at $945k, and the 3rd little piggy was listed at $1,045,000 and closed at $1,005,000. So yes technically all three were listed between $1.0 & $1.499. But at the very bottom of that range and 2 of the 3 closed below the range.
The same is true for homes listed from $1.5 to $1.999. I show 2 sales because there were 2 sales. But one was listed at $1.695 (after dropping from $2.1) and sold for $1,395,000. And the other was listed at $1.650 (after dropping from $3.150) and sold for $1,525,000.
So, again, at the very bottom or below the listed price range.
I suppose the solution is to narrow the price ranges and add more of them. But doing so makes for a more tedious and un-Snapshot-like look at the market.
The report for the previous week is HERE
see TheFoothillsToday.com
to find your Catalina Foothills Home
