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
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