This is an updated version of a post I did in 2016.
A reader of this blog wondered if the lukewarm recovery of the $1,000,000+ home market in the Catalina Foothills was perhaps due to an increasing number of high-end buyers choosing Oro Valley/Northwest over the Foothills.
Hmmm, being a dedicated Foothills aficionado it was hard for me to imagine buyers choosing OV/NW over the Catalina Foothills. But anything is possible, so to clear the air I pulled the sales numbers for the Foothills and OV/NW and here is what I found;
Well, as you can see, at first glance, it does not appear to be the case that large numbers of buyers are choosing OV/NW over the Foothills. What did happen is that after exploding briefly during the boom years the Catalina Foothills market nose-dive-crashed and has bumped along the bottom ever since. And during that same time the OV/NW market rose, but rose gradually and very gently. And likewise when the OV/NW market fell it was more of a gentle easing of sales rather than an actual fall.
And because the Foothills market fell so dramatically, and has yet to get back on its pre-2008 feet, while sales in OV/NW slipped very gently, the effect has been that since Foothills sales tumbled a higher percentage of $1,000,000+ homes have been selling in OV/NW.
As follows;
In 2004 OV/Marana captured just 20% of all sales at $1,000,000 and UP
In 2006 OV/Marana captured just 17% of all sales at $1,000,000 and UP.
In 2008 OV/Marana's share jumped to 39% of sales.
In 2010 OV/M captured 36% of sales
In 2012 OV/M captured 27% of sales
In 2014 OV/M captured 35% of sales
In 2016 OV/M captured 33% of sales
and so far in 2018 it is 23%
And if buyers are choosing OV/Marana over the Catalina Foothills they are doing so for at least one reason, the abundance of newer homes available up there v. here in the Foothills.
see TheFoothillsToday.com
to find your very own Catalina Foothills Home
