The Catalina Foothills

in contract last week, 2/13 – 2/19

From Monday February 13th thru Sunday February 19th,  23 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 3/24/17)

14 were priced from $282,680 to $599,900
6 from $649,000 to $975,000
3 from $1,195,000 to $1,495,000

Yet another very productive week for the foothills market, with contracts across all price points except for the upper-upper end.

The numbers for the previous week are HERE

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a few more recent sales that were listed, went to contract and sold this year

2196 E Cerrado Brio, Tucson, AZ 85718 – listed 1/27 for $425,000, went to contract the next day and sold for $425,000 on 2/22. PS – Zillow had it at $493,221.

6290 N Camino Pimeria Alta, Tucson, AZ 85718 – listed 1/11 for $450,000, went to contract 6 days later and sold on 2/17 for $437,000. Zillow - $473,101.

6471 N Val Dosta Drive, Tucson, AZ 85718 – listed 2/8 for $450,000, went to  contract that same day and sold on 2/17 for $405,000. Which just goes to show that not everyone that gets an offer right away holds out for list price. Or, in this case, for even close to list price. Odd. But it was a cash offer with a very quick close, just 9 days. And Zillow, get this, $634,891.

5216 E Mission Hill Drive, Tucson, AZ 85718 – listed 2/4 for $499,000, went to contract the next day and sold for $510,000 on 2/21, Cash and also a quick close. And Zillow, calling this one at $730,674, is once again wildly bullish on our market.

+ one that was listed long ago but finally went to contract and sold this year.

Surprisingly, 4940 N Calle Esquina, Tucson, AZ 85718 sold the other day (after 978 days) for $900,000 from a $929,000 list price that had been reduced from $1,195,000. Big deal, so what.

The big deal is that Calle Esquina has the distinction of being the 2nd highest price sale in its subdivision, Flecha Caida, since January 2009. And one of only 4 homes that have sold for $800,000 or more during that time. And during that time 145 other homes sold in FC for less than $800k, most for much less, for an average/median sold price of $386,293/$376,375. So you can see why it took so long - most buyers are skittish about being at the tippy-top of the price range. Oddly enough Zillow practically nailed it at $924,429.

 

I’m betting that 2017 will be full of surprises.

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to find your very own Catalina Foothills Home

in contract last week, 2/6 – 2/12

From Monday February 6th thru Sunday February 12th,  21 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 3/17/17)

17 were listed from $189,000 to $525,000
  3 from $684,500 to $895,000
  1 at $1,350,000 (there was another contract at $1,850,000 but it apparently fell thru)

The numbers for the previous (and much more impressive) week are HERE

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to find your very own Catalina Foothills Home

listed, to contract and sold this year

I’ve been anxious to see how our surging market is effecting list price to sale price ratios and how quickly homes are selling. And I wanted to see how actual, individual homes are being effected, not statistics, not %’s of this or that. And I wanted it to be limited to homes that were listed this year, so that it would reflect how both sellers and buyers are approaching the market this year.

So I pulled everything listed this year that went to contract and sold this year, and, voila, here’s what I found.

5200 E Calle del Ciervo, Tucson, AZ 85718 - listed 1/4/17 for $300,000, went to contract 2 days later and sold for $290,000.

6800 N Deone Lane, Tucson, AZ 85704 – listed 1/13/17 for $375,000, to contract 2 days later and sold for $400,000

5870 N Hombre Lane, Tucson, AZ 85718 – listed 1/4/17 $395,000, to contract 13 days later and sold for $387,500

3732 E Windy Point Drive, Tucson, AZ 85718 – listed 1/18/17 for $425,000, to contract that same day and sold for $425,000.

4800 E Placita Tres Vidas, Tucson, AZ 85718 – listed 1/20/17 for $475,000, to contract 6 days later and sold for $475,000.

5424 E GLENEAGLES Drive, Tucson, AZ 85718 – listed 1/6/17 for $512,500, to contract 1 day later and sold for $494,500.

7291 E Desert Moon Loop, Tucson, AZ 85750 – listed 1/6/17 for $624,900, to contract 1 day later and sold for $625,000.

4239 N Placita De Sandra, Tucson, AZ 85718 – listed 1/19/17 for $649,000, to contract that same day and sold for $640,000.

That’s it for now. As the year progresses there will be plenty more for us to evaluate. And for you number crunchers these 8 homes sold for 99.55% of list price in an average of 2 days. Wow!!

However, this is not a complete picture of the market. There are many other homes that were listed this year that have gone to contract but not yet sold. And others still that were listed this year that have not yet gone to contract. Time will tell.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

they’re flying off the shelf in Skyline CC

8 homes priced from $450,000 to $650,000 have gone to contract in Skyline –
4 homes went to contract in 1 day,  
2 went in 6 days,
plus one that’s been hanging around for 113 days and another for 595 days were also ‘snapped up’.

No such luck in La Paloma, where they are selling, just not so fast.

And honorable mention to Ventana CC, 4 contracts in 0, 4, 359 and 1086 days on market.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

in contract last week, 1/30 – 2/5

From Monday January 30th thru Sunday February 5th,  29 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 3/9/17)

17 were priced from $215,000 to $549,000
  9 from $605,000 to $799,000
  3 from $1,195,000 to $1,549,000

another hot week for Catalina Foothills home sales.
tidbit – since January 1st 9 homes priced at $1million+ have gone to contract. (link expires 3/9/17)  At this time last year there was 1. 

UPDATE:  Make that 11 homes at $1million+ to contract since Jan 1st - 2 more went to contract later in the day. (link expires 3/10/17)

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

Skyline Bel Air is hitting on all cylinders

It had to happen, even with all its older homes in need of renovation, Skyline Bel Air is in too good a location-location for it to not take off and do well. And it has, SBA has been slowly improving since 2013. In 2009 I called it ‘the next hot-spot for fixer uppers’ and I think that prediction may come into full bloom this year.

Right now there are 8 homes for sale, 5 in contract (2 of them, at $549k & $749k, went to contract today) and 14 sold in the last 6 months (link expires 3/7/17). That works out to a squeaky tight 3.4 month supply of homes.

A few years ago nearly all the homes listed for sale in SBA were tired old fixer-uppers that eventually sold and many of them were then renovated and remodeled.  And now, increasingly , the homes listed for sale are a mix of fixer-uppers and those that have been fixed up and are being re-sold. And little by little those higher priced remodeled homes are raising home values in SBA.

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to find your very own Catalina Foothills Home

are we entering a HOT MARKET

You know you’re in a hot market when homes are selling quickly, let’s say in 2 weeks or less.
Since January 1st 108 single family homes in the Catalina Foothills went to contract.

Aside from being a lot of contracts for January, which is usually a month when buyers are kicking tires and just getting up to speed after the holidays, many of those homes went to contract quickly. Some very quickly.

34 went to contract in 2 weeks or less. 16 in 2 days or less. That just doesn’t happen in lukewarm market.
(link expires 3/5/2017)

I’ve been involved in making 3 offers for two different clients this year and in every instance there was either another offer already on the table or another offer came in soon after I submitted our offer. And I hate to admit it but we were only successful with one offer, and that was a full price, cash offer with a fast close. We lost the other 2 to higher offers. And that too is what happens in a hot market. You find yourself in competition with other buyers who also want that same house.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 1/23 – 1/29/2017

From Monday January 23rd thru Sunday January 29th,  22 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 3/3/2017)

18 were priced from $239,900 to $599,990
  3 from $649,000 to $818,000
  1 at $1,150,000

with 18 contracts last week, 17 the week before and 32 during the first two weeks of the year homes priced up to $599,999 continue to dominate the market as they fly off the shelf.

It’s early in the season so I hate to jump the gun and call it a sellers market but with just a 3 month supply of homes for sale (up to $599k) and nonstop contracts it sure looks that way.

And it’s not just the lower end of the $0 - $599k price range with a squeaky tight supply, it’s all tight. There’s a flat 3 month supply of homes up to $399k, and from $400 to $599k it’s just a smidge over 3 months. 

And January is the very beginning, and typically the slowest month, of our high season ( which runs Jan – May/June).

See the meager January sales for 2015/2016 relative to the rise in sales during months that follow.

 

 

see TheFoothillsToday.com
to find your very own Catalina Foothills Home