The Catalina Foothills

my how things change

Back in early June there were about 12 homes for sale in all of Pima Canyon and 6 of them were on Quiet Canyon Dr. And there was nothing in contract on Quiet Canyon, just 6 for sale signs baking in sun. It was weird and mysterious.

Then later in June my buyers put a home on Quiet Canyon in contract, (which has since closed) and a few days later another Quiet Cyn home went to contract. And since then four more homes on Quiet Cyn have gone to contract, including a new listing last week.

And in all that time just one other home in all of Pima Cyn has gone to contract. And nothing else has sold.

Back in June it looked as if everyone wanted to sell and no one wanted to buy on Quiet Canyon. Now, just three months later, it’s where the action is in Pima Cyn.

Still 12 for sale in Pima Canyon, from $899,000 to $2,000,000

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to find your very own Catalina Foothills Home

in contract last week, 9/18 – 9/24/17

From Monday September 18th thru Sunday September 24th 24 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/29/17)

Many homes are selling very quickly, and the pace appears to be accelerating, and I think it would be useful to show median days on market figures for each price range. So here we go.
median days on market – MDOM
days on market – DOM (when there’s just one home in contract)

 17 were priced from $183,000 to $539,000 – 18 MDOM
  6 from $699,000 to $999,900 – 184 MDOM
  1 at $1,249,000 – 112 DOM

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

Catalina Foothills, median sold prices by subdivision

So far this year the median sold price for single family homes sold across the foothills is $447,000 - on 655 sales that sold in a rather quick 45 median days on market.

That’s a 6% rise in median sold prices over the same period in 2016, with 9.5% more homes sold this year, that sold in 31% fewer days on market than last year. All in all a very nice improvement.

But sold prices across the foothills do not march in lockstep, they vary by subdivision, by home price and, most importantly, by market demand at that time.

Here’s a look at how median sold prices, etc. have performed this year v. last year in a selection of popular individual subdivisions across the Catalina Foothills. Sales data is for homes  sold 1/1 – 9/24 each year. Click any subdivision name to see all the homes currently for sale. 

Shadow Hills
2016 – 22 sold, median sold (MS) $501,000 in 25 days
2017 – 24 sold, median sold (MS) $538,500 in 66 days
Median sold UP 7.5%

Foothills Clusters
2016 – 9 sold, MS $325,000 in 8 days
2017 – 11 sold, MS $315,000 in 10 days
MS DOWN -3%

Sin Vacas
2016 – 8 sold, MS $724,160, in 276 days
2017 – 7 sold, MS $685,000, in 84 days
MS DOWN -5.4%

Catalina Foothills Estates
2016 – 44 sold, MS $525,000 in 57 days
2017 – 51 sold, MS $550,000 in 70 days
MS UP 4.8%

Pima Canyon
2016 – 5 sold, MS $1,500,000 in 98 days
2017 – 7 sold, MS $1,225,000 in 139 days
MS DOWN  -18%

Catalina Foothills Estates 10
2016 – 5 sold, MS $990,000 in 62 days
2017 – 7 sold, MS $1,090,600 in 63 days
MS UP 10%

La Paloma
2016 – 29 sold, MS $610,000 in 78 days
2017 – 35 sold, MS $430,000 in 92 days
MS DOWN a whopping -29%

Skyline CC
2016 – 13 sold, MS $789,000 in 158 days
2017 – 16 sold, MS $567,500 in 42 days
MS DOWN ditto –28%

Skyline Bel Air
2016 – 14 sold, MS $433,750 in 36 days
2017 – 27 sold, MS $419,000 in 50 days
MS DOWN –3.4%

Flecha Caida
2016 – 19 sold, MS $375,000 in 134 days
2017 – 21 sold, MS $424,000 in 43 days
MS UP 13%

Cimarron
2016 – 13 sold, MS $549,000 in 90 days
2017 – 18 sold, MS $604,000 in 83 days
MS UP 10%

Finisterra
2016 – 7 sold, MS $907,000 in 45 days
2017 – 7 sold, MS $592,288 in 106 days
MS DOWN –10%

Fairfield
2016 – 18 sold, MS $442,500 in 65 days
2017 – 13 sold, MS $440,000 in 53 days
MS DOWN a teeny bit (-0.56%)

Villages of Ventana
2016 - 8 sold, MS $323,517 in 47 days
2017 – 7 sold, MS $355,000 in 31 days
MS UP 9.7%

Ventana CC
2016 – 20 sold, MS $639,575 in 86 days
2017 – 19 sold,MS $625,000 in 37 days
MS DOWN –2.3%

Sabino Mountain
2016 – 11 sold, MS $369,000 in 94 days
2017 – 7 sold, MS $363,500 in 47 days
MS DOWN –1.5%

Looking at the number of home sold, sold prices and days on market in individual subdivisions is not so neat and tidy as they are for the overall foothills market. Due to the wide variety of homes within many individual subdivisions, the fluctuation in median sold prices from one year to the next, UP or DOWN, are, I believe, more a reflection of higher or lower priced homes sold during that period than they are of a rise or fall in home prices or values within those communities. There are however some exceptions; in the few subdivisions that tend to be more cookie cutter, median sold prices are, to a greater degree, more likely to reflect a rise or fall in home values. 

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

 

 

in contract last week, 9/11 – 9/17/2017

From Monday September 11th thru Sunday September 17th 18 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/21/17)

12 were priced from $224,500 to $499,899
4 from $620,0000 to $899,900
2 at $1,070,000 & $1,780,000

A bit of an uptick in contracts v. the previous 2 weeks. The $1,780,000 deal is in Skyline CC – the biggest Skyline deal this year!

The numbers for the previous week are HERE

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

 

in contract last week, 9/4 – 9/10/2017

From Monday September 4th thru Sunday September 10th a measly  13 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/13/17)

8 were priced from $239,000 to $599,000
4 from $600,000 to $900,000
1 at $1,100,000

Another very quiet week for Catalina Foothills real estate. And interesting, it's the lower end of the market that's been going great guns that has dropped the most. Not sure why, last September was much busier. But it looks like it’s picking up, since Monday 9/11, 11 homes have already gone to contract, including one biggie at $1,780,000.

The numbers for the previous week are HERE

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

in contract last week, 8/28 - 9/3/2017

From Monday August 28th thru Sunday September 3rd just 10 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/7/17)

6 were priced from $225,000 to $497,500
2 at $624,000 & $695,000
2 at $1,150,000 & $1,250,000
The $1,250,000 contract is on a home in Skyline CC reputed to have been owned by both Dean Martin & Alice Cooper, which I mentioned when it was for sale in 2012.

10 contracts is the fewest weekly contracts I ever remember seeing. But still, I doubt it’s anything more than ‘just one of those (extremely) slow weeks’. Who knows, we’ll see.

The much better numbers for the previous week are HERE

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

The First 8 Months; Catalina Foothills Single Family Home Sales & Sold Prices

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

First up, the number of homes sold up to $999,999

Thru August home sales up to $999k are UP nearly 11% over the same period in 2016 – and are ahead of every year since 2005.
They also sold quicker this year, 31% quicker than last year – 43 median days on market v. 63 last year.

Next up, the number of homes sold at $1,000,000 or more

Well, in August, sales at $1million+ lost ground again. Thru June big $$$$ sales were UP 24% over 2016, then, thru July, that number dropped to an 18% lead. Now, thru August, sales at $1million+ are actually down a teeny bit, -2.7%, (- 1 sale) v. 2016. And while sales this year are still ahead of every year since 2008, they’re lead is pretty slim (and fragile) and nothing to brag about. 

And those stubborn median sold prices for Catalina Foothills homes

While sold prices are still Up over 2016 they're now up less than they were. Thru this July sold prices were UP 9% over 2016, and now they’re UP by 7%. And still miles away from where they were in 05 – 08.

But look at the bright side. While it’s true that we’re dealing with snail’s pace price appreciation (up just 16% since hitting bottom in 2012) much of the rest of the country is fretting that prices are too high and are entering bubble territory, places where prices have long ago met or exceeded their 05 – 07 peak and are now in danger of bursting (again).

The July report is HERE

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