Single family homes in the Catalina Foothills priced at $500,000 to $599,999 are selling very well.
57 for sale – 22 in contract – 11 sold in last 30 days = 5 months inventory. A market that, along with homes priced in the $300 & $400’s, is teetering on the edge of being a sellers market. Average Cumulative Days on Market (ACDOM) is 115 days,
Some recent sales;
At the Ridge at Ventana Canyon, 6236 N Ventana View Place sold for $490,000 from a $549,000 list in 84 days – hunky dory. However, the sellers paid $550,000 in 2005. And Zillow thought it was worth about that, valuing it at $559,002. But the market didn’t agree.
2807 E Via Alcalde, a 1939 Joesler that was showing its age but sat on 3.8 acres in the Old Foothills, was listed for $590,000 last December, dropped to $550,000 in January, went to contract in March and sold a few weeks ago for $515,000 ($275/sf). WoW! $275/sf.
My guess is it’s a land sale, a builder/investor with plans to split it into 3 lots and start swinging their hammers asap. One owner for the past 50 years, it last sold in 1965, sale price not available. And Zillow, who I figured would be way under on this one, pegged it at $545,232.
Mission accomplished at 5102 N Fort Buchanan Trail in Sunrise Territory Village.
It was listed at $515,000 and sold for $502,000 in 12 days. Last sold in 2004 for $470,000 – while Zillow pegged it at $468,828.
At Village 5 at the Villages of La Paloma 3443 E Corte Paloma Brava started out at $569,000 in March 2014 and sold for $505,500 last week, from a $529,000 list. Last sold in 2005 for $540,000 and Zillow nailed it at $506,757.
In Shadow Hills the owners of 5741 N Paseo Niquel cut to the chase and listed it at $525,000 and were rewarded with a contract 3 days later. It sold for $515,000 - Zillow had it at $473,672 - the sellers paid $575,000 in 2008.
In Skyline CC 6747 N Los Leones sold for $535,000 ($227/sf) from a $575,000 list price in just 51 days. It last sold in 1993 for $335,000 and tried for but failed to get $799 > $719 > $699 and $655 in 2008 & 2010. And a near bulls-eye for Zillow at $527,831.
8031 E Paseo De Beatriz, at the far east end of the foothills, was listed at $625,000 last September and after a few price cuts went to contract last month and closed the other day at $540,000 ($161/sf) – Zillow had it at $573,932 – the sellers paid $500,000 in 2002.
The 11 homes sold on average for 91% of original list price ($513 864 / $565,182) -
and 95% of list price at time of sale ($513,864 / $542,545)
see TheFoothillsToday.com
to find your very own Catalina Foothills Home