The Catalina Foothills

in contract last week, 6/19–6/25/17

From Monday June 19th thru Sunday June 25th, 25 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 7/28/17)

19 were priced from $230,000 to $569,000
5 from $609,500 to $849,900
1 mega deal at $2,495,000

So even with temps in 115 range buyers were out in full force.

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

in contract last week, 6/12 – 6/18/17

From Monday June 12th thru Sunday June 18th, 26 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 7/21/17)

18 are listed from $238,000 to $598,000
6 from $600,000 to $985,000
2  at $1,179,000 & $1,199,000

A nice rise in the number of contracts from the previous 2 weeks.
With temps hovering around 115 this week I’m anxious to see how many agents and buyers braved our torrid temps to find a home.

The numbers for the previous week are HERE

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

A new listing on Camino Real

5470 N Camino Real, Tucson, AZ 85718, built in 2007 is a 5,410 sf, 5 bedroom (plus  media room, plus a ''hang out'' room!) masonry home on a private 1.2 acre lot in the heart of the Old Foothills off Camino Real and in District 16.

If top quality construction, materials, finishes and features are important to you then you may want to check it out. – masonry construction, all Pella windows and doors, solid alder interior doors, mesquite and limestone floors, hand-hewn beams, specialty tile work and lighting, top of the line appliances and fixtures, hand forged iron gates on a private lot with terrific mountain and city views. Priced at $1,273,000 ($235/sf) for a home that is easily in the $300+/sf category.

A few pictures

 

 

Here’s a link to the listing, with more photos and info.
5470 N Camino Real, Tucson, AZ 85718 (MLS# 21715899)

Disclosure; The owners are friends of mine. Nevertheless, I wouldn’t have written what I wrote if it weren’t true. This is a very impressive and beautifully built house. The kind of top quality construction and attention to detail that is rare these days. And at this price it’s also a very good deal.

If at first glance its location by the side of Camino Real is not appealing I suggest you take a few minutes and see the interior of the house, the front and rear yards and the views. And then decide.

Thank you,
John Schneider

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

in contract the week of 6/5 – 6/11/17

From Monday June 5th thru Sunday June 11th, 22 single family homes went to contract in the Catalina Foothills of Tucson AZ.

16 were priced from $197,500 to $585,000
  5 from $618,000 to $850,000
  1 at $1,475,000

The numbers for the previous week are HERE

When reviewing the previous weeks’ activity, which was meager relative to other recent weeks, I wondered if the market was slowing down as it usually does in summer. And here we have another week with fewer contracts and 100°+ temps. Say Hello to the summer market.

Along with fewer contracts, there are usually fewer new listings popping up in summer. And right now there are just 370 single family homes for sale in the Catalina Foothills – the lowest inventory this year.

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

in contract the week of 5/29 – 6/4/2017

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

 

The First 5 Months; Catalina Foothills Homes Sales & Sold Prices

The following charts track single family home sales & sold prices in the Catalina Foothills for January thru May of each year from 2004 to 2017.

First up, Homes Sold up to $999,999;

The beat goes on, sales continue to improve. Except for the 2014 drop, sales up to $999 have improved every year since 2010 and are now just 14% below the 2005 peak. 
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Sales at $1,000,000 & UP

Thru April sales at $1.0mil+ this year were neck n’neck with last year. But May came to the rescue - with 11 homes sold this May – sales this year are now up 36% over last year.

More homes sold at $1.0+  this May than in every May since 2005,(with the exception of May 2007 with the same 11 sales) – an encouraging bit of news for a market that’s been struggling for years.

How many more sold this May?
Here are the number of sales for each May since 2005;
2005 – 12 / 2006 -10 / 2007 – 11 / 2008 – 8 / 2009 – 3 / 2010 – 4 / 2011 – 4 / 2012 – 7 / 2013 – 4 / 2014 – 6 / 2015 – 3 / 2016 – 4.

At the risk of laying it on a bit thick because, well, it’s just one month, the days on market (DOM) before a home goes to contract and sells is also a pretty good guide to the demand and strength of a particular market.
The 11 homes sold this May were on the market 106 median DOM.
In 2006, at the tippy-top of the $$$$million+ buying frenzy the 10 homes sold in May were on the market 108 median DOM. May 2012 – 186 DOM. May 2014 – 214 DOM. And so on. 
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Median Sold prices thru May

Sold prices continue to hold their own. YTD Median sold prices are up 10% over last year and 19% since scrapping bottom in 2012.

All in all a very positive market report for 2017.

The April sales & sold charts are HERE

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