From Monday May 29th thru Sunday June 4th, 21 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 7/12/17)
17 were priced from $245,000 to $599,000
3 from $669,000 to $695,000
1 at $1,647,313
The numbers for the previous week are HERE
A relatively meager week for contracts. I wonder, now that we are firmly in the heat of summer, is the market cooling or was it just one of those slow weeks.
One thing is for sure. More deals are falling thru these days than at any time I can remember. It’s happening mostly, but not exclusively, at the lower end of the market – up to $400 maybe $500k - where the competition is fierce and the supply of good homes is low.
Often, buyers are putting in offers on homes after just a quick look and sometimes, without even a quick look, before they’ve even seen the home in person. Right, they’re putting in ‘sight unseen’ offers. In either circumstance once they lock it up and have a good look at it they may discover that it’s not what they thought or hoped it would be. And then the deal falls thru. Back to square one. So if you’ve missed out on a home that you like it may not be over, and it may be worth putting in a backup offer. The number I’ve heard bandied about for the percentage of deals falling thru is about 25%. That’s huge.
see TheFoothillsToday.com
to find your very own Catalina Foothills Home
