The Catalina Foothills

in contract last week, 2/19 – 2/25/2018

From Monday February 19th thru Sunday February 25th  24 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/29/18)

15 were priced from $232,000 to $599,900
  8  from $643,900 to $895,000
  1 at $1,650,000

Those 24 homes were on the market for 39 median days before going to contract – a 62% jump in # of days on market from the previous week.

During that same week 31 new listings came on the market – priced from $310,000 to $2,150,000. And all 31 were new listings, not re-listed old listings – for a grand total of 330 single family homes for sale in the Catalina Foothills today.

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

in contract last week, 2/12 – 2/18/2018

From Monday February 12th thru Sunday February 18th  22 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/22/18)

16 were priced from $325,000 to $539,000
  6 from $615,000 to $949,000
and that’s it. a rare week with nothing at $1.0+

The 22 homes that went to contract did so in 24 median days on market. 

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

 

 

Median Sold Price Rises to $527,000

70 homes have sold since Jan 1 (from 1/1 – 2/15) and, incredibly enough, the median sold price for those 70 homes is $527,000.

And that is huge, because $527,000 is an 18% jump from 2017’s median sold price of $445,000. 

And, oddly enough, $4445,000 was also the median sold price for the 83 homes sold during the same 1/1 – 2/15 period in 2017.

So thinking I was on to something I looked at 2016 and the 2016 median sold price was $417,250 for the whole year. And it was $416,000 during the same 1/1 – 2/15 period. 

Seeing two years where median sold prices for the entire year were, it appeared, being  predicted by sold prices during the first 6 weeks made me wonder if I’d stumbled onto a fascinating new way to predict where the market is headed.

Wow!, was I onto something or what. Turns out, or what.

I checked 2013, 2014 and 2015. And my fascinating theory quickly fell apart. In each of those years the median sold price during the first 6 weeks of the year was not the same or even close to where it ended up for the entire year.

However, in every year the median sold price for the entire year was higher than it was during the first 6 weeks.

If that holds true this year, and I’m not saying it will, 2018 could experience the largest ever increase in home prices.

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

in contract last week, 2/5–2/11/2018

From Monday February 5th thru Sunday February 11th  21 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/15/2018)

Something for everyone - a week of contracts priced from the bottom to near the top of the market.

11 were priced from $275,000 to $545,000
8 from $600,000 to $995,000
1 each at $1,249,000 & $2,950,000

Those 21 homes went to contract pretty quick, in 22 median days on market.

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

listed and sold this year, 2018

I’ve been anxious to see how our hot market is effecting list price to sale price ratios and how quickly homes are selling. And I wanted to see how the market is impacting actual individual homes, not statistics, not %’s of this or that. And I wanted it to be limited to homes that were listed and sold this year, so that it would reflect how both sellers and buyers are approaching the market this year.

So I pulled everything listed this year that went to contract and sold this year, and, voila, here’s what I found.

5532 N Star Canyon Court, Tucson, AZ 85750, listed for $269,900 went to contract in 3 days and sold  for $268,000.

3901 E Vía Del Verdemar, Tucson, AZ 85718, a patio home with mountain views in La Paloma, listed for $314,900, it went to contract before it hit the MLS and sold for $324,900, yep $10k over list.

7744 E McGee Mountain Road, Tucson, AZ 85750, listed for $450,000 it went to contract in 8 days and sold for $450,000.

6608 N Calle Padre Felipe, Tucson, AZ 85718, listed for $494,000 it went to contract in 3 days and sold for $495,000.

4774 N Coop Canyon Place, Tucson, AZ 85750, listed for $529,000 it dragged it out to 7 days before going to contract and sold for $529,000.
This home, along with 7744 E MccGee Mountain Road, up above, are both in the Shadows of Sabino subdivision. $529,000 is the highest price paid for a home in the Shadows of Sabino since 2008 – and during that time 68 homes have sold in there.

4940 E Calle Guebabi, Tucson, AZ 85718 in Skyline Bel Air, listed for $545,000, went to contract 6 days later and sold for $540,000.

4920 N Post Trail, Tucson, AZ 85750, in Sunrise Territory Village, listed for $650,000 it went to contract its first day on the market and sold for $650,000.

No doubt this is a small segment of the market. There are many other homes that were listed this year that have gone to contract but not yet sold and there are others that are still for sale, that have not gone to contract.

Nevertheless, including the above examples, there are many indications that increasingly we are moving to a sellers market, that is, up to about the $700,000 to $800,000 price range. Above that, according to the numbers anyway, it’s still a buyers market.

Stay tuned, we will continue to evaluate the market and report the results here.

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

 

Pima Canyon takes early lead in Catalina Foothills upper-end home sales

Since January 1st  6 homes  listed at $1Million+ have sold;

1 in Ventana CC
1 in Cobo Catalina Hills
1 in Skyline CC
3 in Pima Canyon

See them HERE
(link will expire on 3/13/2018)

No surprise there, more often than not Pima Canyon leads the pack in upper-end sales. Why? Biggest reason, because the homes in PC are generally newer than those in other high-end communities, and more buyers prefer newer homes. 

That said, there are 7 homes in contract listed at $1Million+ and NONE are in PC. 3 are in Skyline CC, 1 in Cobblestone, 1 in Coronado Foothills Estates, 1 in La Paloma and 1 in an in-subdivided area.

However, last year 63 homes sold that were listed at $1Million+, and 14 of them sold in Pima Canyon – by far the most sales of any upper-end subdivision.

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

in contract last week, 1/29 – 2/4/2018

From Monday January 29th thru Sunday February 4th  19 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/7/2018)

15 were priced from $312,500 to $500,000
3 from $619,000 to $990,000
1 at $1,395,000

12 of the 19 homes went to contract very quickly, from 1 to 24 days on market, or after just 11 median DOM (days on market)

The numbers for the previous week are HERE

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