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
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