14 homes have gone to contract listed from $1,000,000 to $1,895,000
3 of those in contract have sold + 2 more sales from late 2016 contracts, from $1,040,000 to $1,177,500.
So 16 high-end homes either in-play or sold in a little over 2 months, impressive.
And because high-end homes were going to contract at a pretty quick clip during the first 6 weeks of the year (I’m guessing) more sellers decided to strike while the market is hot and list their homes this year – bringing 33 new listings to market.
Which brings the current inventory to 93 homes listed for sale from $1,000,000 to $12,500,000 - and 5 homes sold in 2+ months = about a 38 month supply of high-end homes. But – assuming we’re not barraged with more new listings - that number will drop as the 11 homes in contract sell.
Notwithstanding the rush of early contracts this year, traditionally, the high-end market picks up its pace in March, April and sometimes even May.
Last year was the best year (in a series of dismal years) since 2008 for the Catalina Foothills $1million+ market; will 2017 be another best year.
It looks possible, maybe even promising, but still way to early to make bets. Particularly if, as I have, you’ve made them and been dead wrong.
see TheFoothillsToday.com
to find your very own Catalina Foothills Home
