The Catalina Foothills

in contract last week, 12/18 –12/24/17

From Monday December 18th thru Sunday December 24th  9 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/28/18)

6 were priced from $198,000 to $478,000
1 at $699,000
2 at $1,195,000 & $2,495,000

Depending on the sale price the contracts at $1.195 & $2.495 may end up being the highest sale price in 10 years in their respective subdivisions (Cobo Catalina Hills & Ventana Canyon Mountain Estates). Also noteworthy, they each went to contract in just 52 & 94 days, amongst the quickest sales in the last 10 years in their respective subdivisions.

Happy New Year!

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to find your very own Catalina Foothills Home

in contract last week, 12/11–12/17/2017

From Monday December 11th thru Sunday December 17th  16 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/19/2018

9 were priced from $269,900 to $575,000
5 from $645,000 to $953,000
2 at $1,100,000 & $1,395,000

A very active week for this time of year.

The numbers for the previous week are HERE

*Inventory is low, just 299 single family homes for sale in the Catalina Foothills today, but new listings should pick up after the new year.

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to find your very own Catalina Foothills Home

the best September, October, November in 14 years

Home sales in the Catalina Foothills did very well all through 2017 but they did exceptionally well in September, October & November – a time when one does not expect such a raging market. On numerous occasions over the last few months I wrote about how well our Catalina Foothills home market was doing - about the many homes selling and how quickly they were selling. Somewhat to my amazement.

And now, with the numbers in hand, it turns out it’s even better than I thought. In fact many more homes sold and sold much quicker during this September, October & November than in every year going back to and including 2004 - 2005, when the market was on fire.

In 2004 the exact same number of homes sold, 218, as sold this year, but in 2004 they took more than twice as long to sell. In 2005 167 sold and they also took more than twice as long to sell.

1st place - Sept, Oct, Nov. 2017 – 218 homes sold in a blazing fast 32 median days on market.

2nd - 2016, 187 sold in 48 days on market.

3rd -  it depends; take your pick
2014 – 183 sold in 91 days 
2015 – 163 sold in 57 days

4th – 2013, 160 sold in 63 days.

If the market was on fire in 2004 – 2005, and it was, what’s it on now.  

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

in contract last week, 12/4 – 12/10/2017

From Monday December 4th thru Sunday December 10th  12 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/13/18)

5 were priced from $269,000 to $359,000
6 from $600,000 to $950,000
1 at $1,145,000

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

Sold, then & now

It’s always interesting, and often sobering, to compare the selling price of homes that sold back in the boom years (when the sky was the limit) to what they have sold for more recently. If nothing else, it demonstrates that sold prices have not performed uniformly throughout the Catalina Foothills. Not hardly!! For a variety of reasons some homes perform better or worse than others.

I have done my best to choose homes that are materially in the same condition today as they were at the time of the previous sale – that is, they have not had substantial improvements done since the first sale.

In no particular order;

On Sabino Mountain - 4181 N Quail Canyon Drive, Tucson, AZ 85750 sold for $675,000 in 2004 and sold again yesterday for $760,000 – UP a meager 12.6% since its 2004 sale, which, believe it or not, is better than the overall markets’ 10% increase since 04. 

In La Paloma Estates - 3170 E Via Palomita, Tucson, AZ 85718 did quite nicely. It sold for $1,132,500 in 2006 (the tippy top of the market) and for $1,078,750 the other day – just 4.7% less than its 2006 sale - while the overall foothills market is still down –22% since 06.

In Ventana CC - 6010 N Desert Moon Court, Tucson, AZ 85750 sold in 2007 for $1,015,000  and for $659,500 the other day – a 35% drop – while the overall foothills market is down 18% since 2007.

In Alta Vista - 6269 N Paseo Valdear, Tucson, AZ 85750 sold in 2007 for $849,000 and for $740,000 two weeks ago – a 13% drop for Valdear in a market that is down nearly 18% during that time.

In Sunrise Presidio Village - 4650 N Paseo Presidio, Tucson, AZ 85750 sold for $425,000 at the top of the market in 2006 and for $465,000 last week – a 9+% increase in a market that is down –22% since 06.

In La Paloma - 6191 N Placita Pajaro, Tucson, AZ 85718 sold in 2007 for $540,000 and for $475,000 last month – 12% less in a market that is still down nearly 18% since 07.

In Sabino Town And Country Estates - 8001 E Ocotillo Drive, Tucson, AZ 85750 sold for $655,000 in 2007 and for $488,000 last month – a 25% drop in a market that is down 18% since 07.

In Bonita Ridge - 5008 N Valley Shadows Place, Tucson, AZ 85750 sold for $560,000 in 2008 and for $496,000 last month – an 11% drop since 08 in a market that has dropped almost 16% since 08.

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

in contract last week, 11/27–12/3/2017

From Monday November 27th thru Sunday December 3rd  15 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/5/2018)

13 were priced from $225,000 to $549,000
2 at $634,000 & $899,000
and that’s it, the big money kept to the sidelines last week.

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

The First 11 Months; Catalina Foothills Single Family Home Sales & Sold Prices thru November

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

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

Thru November Catalina Foothills home sales up to $999,999 are UP more than 11% over  2016.
And they sold quicker this year, 29% quicker than last year – in 38 median days on market v. 62 last year. Homes even sold quicker this year than they did in 2004 – 2005, when the market was going thru the roof, 91 & 65 days on market then v. a skimpy 38 days now.

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

Last month I said;
Sales at this price point have 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.

And for the most part that is still true. Except that this year (for the first time in years) will be the 2nd year in a  row of (marginally) growing sales. Sales rose in 2016 and they have risen again this year.  Nevertheless, the big picture is more than twice as many $million homes sold in 2006 than will sell this year. That's a fact. 

And median sold prices for Catalina Foothills homes.

Thru November median sold prices this year are UP 6% over 2016  - the largest yearly increase since 2013. And a pretty healthy increase for just one year.
However, since hitting bottom in 2012 median sold prices in the Catalina Foothills are up a measly 14%. Measly, I say, because prices dropped 32% from their 2006 high to their 2012 low. So we've still got a long way to go go go to get back to where we were 11 years ago. 

Please keep in mind that 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

Long overdue

If you follow the Market Snapshot chart on this blog or the Just Sold link on my web site you probably noticed that both of them were 2 or more weeks overdue for an update. I finally got around to doing it today.

Market Snapshot

&

Just Sold

Blame my tardiness on the holidays, I do.

Cheers!

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