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.
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