The Catalina Foothills

in contract last week, 11/20–11/26/17

From Monday November 20th thru Sunday November 26th (Thanksgiving week!) just 8 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/29/17)  

4 were priced from $310,000 to $595,000
2 at $600,000 & $699,000
2 at $1,099,000 & $1,100,000 (in 13 & 35 days on market)

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

just the numbers, YTD

The following numbers are for single family homes sold up to $999,999 in the Catalina Foothills of Tucson,  AZ from January 1st thru November 22nd - 2016 & 2017.

2016
683 homes sold at $406,000 (median sold $$) in 62 median DOM.

2017
760 homes sold at $430,000 (median sold $$) in 38 median DOM

So, in 2017 11% more homes sold at 6% higher median sold prices in 38% fewer days on market. That’s a pretty good improvement for one year, and we’ve still got a bit to go. 

Same deal, but this time for homes sold at $1,000,000 & UP

2016
44 sold at $1,250,000 (median sold $$) in 74 median DOM

2017
48 sold at $1,192,500 (median sold $$) in 112 median DOM

So, in 2017  9% more homes sold at –4.6% lower median sold prices in 51% more days on market. A mixed bag, a few more sold but they took longer to sell and median sold prices slid a bit – at risk of repeating myself, a market that is still (after 8 years) struggling.

Yes struggling, though you’d never know it from the number of shiny new $1million+ listings hitting the market – there are now 83 homes listed for sale at $1,000,000 & UP, and more to come come January, Feb and March.

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

 

in contract the last 2 weeks, 11/6 – 11/19/2017

From Monday November 6th thru Sunday November 19th 31 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/20/2017)

16 were priced from $219,900 to $488,000
13 from $649,000 to $979,000
2 at $1,049,999 & $1,495,000

This is the first time in memory that the middle price range ($600,000 to $999,999) has nearly as many contracts as the lower end of the market.

Everything is selling (I exaggerate, not quite everything but nearly) homes that have just come on the market and homes that have been on almost 1200 days, they’re all selling.  
They didn’t sell last year or the year before but they’re selling now. The listings that are sometimes referred to as lifetime listings, yep, they’re selling. Why, the market is hot and inventory is tight which causes buyers to compromise and do deals they would not have done in years past. Because, if you want to buy a house you have to participate in the market that you’re in, not the market that you wish you were in. For years buyers held the cards and called the shots. It looks like the tables are turning.

The numbers for the previous week are HERE

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

what’s selling at $800,000 to $900,000

A few of the sales mentioned below were noted in the post I did last week, but with less, or no, background.

in La Paloma Estates, 3350 E Vía Palomita, Tucson, AZ 85718 was listed for $850,000 and sold for $819,000 ($181/sf) in 6 days. That’s quick, but that’s a hot market for you. And it’s also long overdue. 3350 was for sale last year and the year before for a total of 566 days and didn’t sell. It didn’t sell because it was priced too high, it started out in late 2104 at $1,200,000 and over 2 years drifted down to $889,000 and left the market unsold in August 2016. But low inventory and a hot market helped it go in 6 days this time round.

Not so for 6000 E Territory Avenue, Tucson, AZ 85750. It was listed for $899,900 and sold for $825,000 ($173/sf) in 19 days – despite the fact that $825,000 is big money in Sunrise Presidio Village. How Big? Since January 1, 2010 this is the only home sold in there for $800,000 or more. The next highest sale was $690,000 and that sold this July. Why, the market is hot and inventory is tight which causes buyers to do deals they would not have done in years past. PS - Zillow valued it at $870,987

in Skyline CC, 7019 N Javelina Drive, Tucson, AZ 85718 was listed at $849,900 and sold for $829,000 ($280/sf) in 8 days - Zillow nailed it at $826,000. Tidbit; it didn’t sell but in 2006 it was listed for $1,695,000. Imagine that!

in Finisterra, 6030 E Finisterra, Tucson, AZ 85750 finally made it from listing to sold. It started out in late 2015 asking $1,195,000 then $995,000 and hung in there for 625 days before selling for $850,000 ($166/sf) this September. I have to wonder if back in 2015, when they first listed it, if the sellers were swayed by Zillow’s zestimate of $1,200,000 which in time grew to $1,314,472. They may have been, but buyers definitely were not.

in Ventana Reserve, 7351 E Autumn Dusk Place, Tucson, AZ 85750 was listed for $889,000 and 22 days later got and took $865,000 ($244/sf). At $873,000 Zillow nailed it again.

in Ventana Reserve, another very quick sale - 6028 N Indian Trail, Tucson, AZ 85750 was listed for $900,000 and sold in 6 days for $900,000 ($198/sf) – $46 less/sf than Autumn Dusk up above. Why, not sure. This one, Indian Trail is a 2 story and Autumn Dusk is a one story. Nevertheless, Zillow got it right at $894,838.

in Cobblestone, 7401 N Cobblestone Road, Tucson, AZ 85718 started high, at $1,495,000 in March 2016, and sold low, for $867,000 (a mere $119/sf, in Cob). This, for a home that sold for a cool $1million in 1995.
And here we go again with who is listening to Zillow.  When it was first listed in March 2016 Zillow had it at $1,500,000, hmm, coincidence?   
And now Z still has it at $1,361,251. If wishes were …

in Alta Vista, the ever popular 6360 N Placita De Tia Ro, Tucson, AZ 85750. It sold for $850,000 in 2013 and sold again for $850,000 in May of this year and sold yet again 6 months later (the other day) on November 10, 2017 for $869,000 ($232/sf) from an $869,000 list price in 2 days. Yep 2 days.  Zillow was spot on at $866,000.

Those are all fairly high priced sales and 5 sold in less than 20 days + 1 at 22 days and a few leftovers from years past carrying the heavy baggage of long months on the market. With higher priced homes selling this well and this quickly at this time of year it will be interesting to see what happens when our high season kicks off in January - May.

Those 8 sales are all the homes sold in the Catalina Foothills at $800,000 to $900,000 since September 1, 2017. See them HERE

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

in contract last week, 10/30 – 11/5/17

From Monday October 30th thru Sunday November 5th 15 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/09/17)

*MDOM = Median Days on Market

11 were priced from $249,900 to $599,000 – 18 MDOM
4 from $794,900 to $835,000 – 32 MDOM
and that’s it

The numbers for the previous week are HERE

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

actual recent sales

To really get a handle on what’s happening in the market it’s helpful to see the actual homes that are selling, and for what they're selling for and how long they take to sell. So rather than a bunch of statistics and charts with averages and medians, the following are the list and sold prices plus days on market for the homes that sold recently.

I pulled everything that sold for $500,000 or more since October 1st – no cherry picking and no editing, they appear in ascending price order.
Click any highlighted subdivision name to see all the homes currently for sale.

in Coronado Foothills Estates / 6720 N Alvernon Way, Tucson, AZ 85718 – listed $509,000 sold for $500,000 in 10 days.

in Cimarron / 6036 E Paseo Cimarron, Tucson, AZ 85750 – listed $500,000 sold for $515,000 in 3 days.

5180 N Hidden Valley Road, Tucson, AZ 85750 – listed $525,000  sold for $500,000 in 1 day.

in Sabino Crest Estates, 5935 N Sabino Canyon Road, Tucson, AZ 85750 – listed $539,000 sold $535,000 in 59 days.

in Sunrise Presidio Village, 5731 E Paseo Caborca, Tucson, AZ 85750 – listed $549,000 sold $528,000 in 2 days.

in Sin Vacas, 2400 E Placita Sin Lujuria, Tucson, AZ 85718 – listed $562,000 sold $549,450 in 168 days.

in La Paloma, 5801 N Paloma Ridge Lane, Tucson, AZ 85718 – listed $624,000 > $599,000 sold $583,000 in 182 days.

in Skyline CC, 6770 N Mamaronick Drive, Tucson, AZ 85718 – listed $700,000 > $689,000 > $670,000 > $650,000 > $625,000 finally sold $565,000 in 215 days.

in Catalina Foothills Est 8, 2125 E Camino La Zorrela, Tucson, AZ 85718 – listed $649,000 > $$624,000 sold $615,000 in 136 days.

in Canyon View Est, 6141 N Canon Del Pajaro, Tucson, AZ 85750 – listed $699,999 > $697,000 ha > $695,000 ha-ha > $649,000 sold for $615,000 in 336 days.

in Vista De Las Candelas, 6835 N Camino De Fray Marcos, Tucson, AZ 85718 – listed $665,000 sold $640,000 in 15 days.

in Ridge At Ventana Canyon, 6365 N Ventana View Place, Tucson, AZ 85750 – listed $699,000 sold $690,000 in 0 days. Swept up before it hit the market. And it’s a 2 story too!

in Skyline CC, 5151 E Saint Andrews Drive, Tucson, AZ 85718 – listed $739,000 sold $645,000 in 100 days.

in Catalina Foothills Estates NO. 3, 5565 N Via Elena, Tucson, AZ 85718 – listed $949,000 > $895,000 > $845,000 > $795,000 > $749,000 sold $715,000 in 266 long days.

in Sabino Vista Hills, 8421 E Brookwood Drive, Tucson, AZ 85750 – listed $899,000 > $799,000 sold $757,500 in 151 days.

in Pima Canyon, 1972 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $895,000 > $850,000 > $799,000 sold $725,000 in 206 days.

in Skyline CC, 7019 N Javelina Drive, Tucson, AZ 85718 – listed $849,900 sold $829,000 in 8 days.

in Ventana Reserve, 7351 E Autumn Dusk Place, Tucson, AZ 85750 – listed $889,000 sold $865,000 in 22 days.

in Ventana Reserve, 6028 N Indian Trail, Tucson, AZ 85750 – listed $900,000 sold $900,000 in 6 days.

in Catalina Foothills Estates, 5040 N La Lomita, Tucson, AZ 85718 – listed $990,000 > $975,000 > $950,000 sold $920,000 in 181 days.

next up, the Quiet Canyon Trio  

in Pima Canyon, 2033 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $999,900 sold $980,000 in 6 days.

in Pima Canyon, 2293 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $1,100,000 sold $1,032,500 in 65 days.

in Pima Canyon, 2263 Quiet Canyon Drive, Tucson, AZ 85718 – listed $1,300,000 > $$1,250,000 > $1,190,000 > $1,150,000 sold $1,030,000 in 413 days.

in Foothills ll, 6946 N Mercer Spring Place, Tucson, AZ 85718 – listed $1,295,000 > $1,249,000 sold $1,185,000 in 112 days.

in Ventana CC, 6882 E Desert Wind Court, Tucson, AZ 85750 – listed $1,250,000 sold $1,200,000 in 23 days.

in Skyline CC, 6820 N Los Leones Drive, Tucson, AZ 85718 – listed $1,780,000 sold $1,645,000 in 120 days.

that’s it. 27 homes sold for $500,000 & UP since October 1st.
All in all, after reviewing list and sold prices and days on market, it appears to me that the market is doing quite well. And putting those sales numbers together with recent contract activity reinforces my opinion that we are in a market that is growing stronger month by month.  
See the 27 Sold Listings HERE    (link expires 12/8/17)

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

The First 10 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 – October of each year from 2004 to 2017.

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

Thru October home sales up to $999k are UP nearly 13% over the same period in 2016 – and are now well ahead of every year since 2005.

And they sold quicker this year, 29% quicker than last year – in 44 median days on market v. 62 last year. Homes even sold quicker this year than in 2004 – 2005, when the market was going bonkers, 91 & 65 days on market then v. 44 now.

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

Sales at this price point have now been bouncing along the bottom for the past 9 years, 9 years with very little (hardly any) improvement, with sales up a little bit one year and down the next.

Look at it this way; More homes sold during January –October 2006 alone than in any consecutive 3 year period since then. 
2009 – 2011 = 105 sold for all 3 years
2012- 2014 = also 105 sold
2015 – 2017 = 110 sold
2006 – 112 sold

And finally, median sold prices for Catalina Foothills homes.

Thru October median sold prices are UP 5.7% over 2016  - the largest yearly increase since 2013.

And they are also UP over every year since 2009, but not by all that much – they’re UP a measly 14% since hitting bottom in 2012 – 5 long years and prices have only risen 14%.
But, as noted above, they are UP 5.7% over last year, that’s 5.7% in one year. And maybe just maybe, with the very healthy increase in sales over last year (at under 1$million) we will continue to see a healthy increase in sold prices.

Please keep in mind that sales and sold prices do not perform uniformly throughout the Catalina Foothills. Some areas, some homes, some price ranges perform better or worse than others. The median numbers are only indicative of the overall Foothills market.

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

in contract last week, 10/23–10/29/17

From Monday October 23rd thru Sunday October 29th  18 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/02/17)

MDOM = Median Days on Market

10 were priced from $215,000 to $499,000 -  65 MDOM
6 from $699,600 to $985,000 – 8 MDOM
1 each at $1,549,000 & $1,550,000 – 22 & 1228 Days on Market

!8 contracts, not a particularly large number of contracts for this time of year. But what is significant, I think, because it is the kind of thing that doesn’t happen unless the market is hot or heating-up, is some of the homes that did go to contract last week;

- a home that has many interior and exterior steps, steps from here to there and back again. A feature that typically means a long time on the market before a willing buyer comes along, but not this time.

- a graceful and large (7000+ sf on 6+ acres) estate built in the 1950’s that I’m guessing may have been bought by a builder to tootsie up the main house, split the 6 acres into 3 or 4 parcels and build new homes.

- a home in Pima Cyn that went to contract in 22 days priced at more than $350/sf. If it sells for $325/sf or more, and I expect it will, it will be amongst the top 2 or 3 or 4 $$/sf sales in Pima Cyn in the last 5 years. And priced at $1,549,000 and going to contract after just 22 days is nothing to sneeze at either.

- a spec home priced at $985,000 went to contract in 3 days.

- 6 of the 18 homes went to contract in less than 10 days.

The numbers for the previous week are HERE

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