The Catalina Foothills

in contract last week, 8/20 - 8/26/2018

From Monday August 20th thru Sunday August 26th -  18 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 9/30/2018)

15 were priced from $235,000 to $599,000
 3 from $650,000 to $995,000
 and that's it! 

Once again, a pretty good haul for the dead of August

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

in contract last week, 8/13 - 8/19/2018

From Monday August 13th thru Sunday August 19th -  15 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 9/25/2018)

8 were priced from $299,900 to $565,000
4 from $674,900 to $975,000
3 from $1,025,000 to $1,195,000

Impressive numbers for the dead of August

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

in contract last week, 8/6 - 8/12/2018

From Monday August 6th thru Sunday August 12th -  8 single family homes went to contract in the Catalina Foothills of Tucson AZ (link will expire 9/18/2018)

7 were priced from $269,000 to $415,000
1 at $689,000
and that is it!

August strikes again ... 

The numbers for the previous week are HERE

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

12 years later and we’re still not there

Median sold prices in the overall Catalina Foothills market peaked in 2006 at $570,000, and bottomed out in 2012 at $380,000 - a 33% drop.  And now, thru July of this year, median sold prices are at $495,000 - UP 30% from 2012, but still well below where they were in 2006 - 12 years ago. 

But the foothills market is wide and varied and prices in individual subdivisions have performed differently, often wildly different, from the overall market. See for yourself, I've pulled the numbers and done the math for a selection of popular  Foothills subdivisions; 

The median sold prices are for January – July of each year. 
The +/- % reflects the drop in median sold prices from 2006 to 2012 and the change, up or down, from 2012 to 2016. (click any subdivision name to see all the homes currently for sale – continuously updated)

Shadow Hills 
2006 – $646,500 
2012 – $420,000 (-35%) 
2018 – $592,500 (+41%)

Catalina Foothills Estates 1 –9 
2006 - $665,000
2012 - 529,250 (-20%) 
2018 - $628,750 (+19%)

Catalina Foothills Estates 10 
2006 - $1,092,500
2012 - $843,500 (-23%)
2018 - $1,094,500 (+30%)

Sin Vacas 
2006 - $895,000 
2012 - $675,000(- 24%) 
2018 - $650,000 (– 4%)

Pima Canyon 
2006 -  $2,050,000 
2012 - $1,075,000 (- 47%) 
2018 - $1,150,000 (+ 7%)

Cobblestone 
2006 – 0 sales 
2012 - $1,004,965 (1 sale) 
2018 - $887,500( -12%)
 

La Paloma 
2006 - $625,000 
2012 - $400,000 (- 36%) 
2018 - $460,000 (+15%)

Hacienda del Sol Est 
2006 - $1,550,000  
2012 - $800,000 (- 48%) 
2018 - $744,000 (-7%)

Pinnacle Ridge 
2006 - $1,005,000  
2012 - $651,000 (- 35%) 
2018 - $802,500 (+ 23%)

Skyline CC Estates 
2006 - $1,082,500 
2012 - $641,000 (- 41%) 
2016 - $912,500 (+42%)

Skyline Bel Air 
2006 - $597,250 
2012 - $350,000 (- 41%) 
2018 - $481,000 (+31%)

Cimarron 
2006 - $745,000 
2012 - $478,000 (-36%) 
2018 - $510,000 (+7%)

Fairfield/Sunrise 
2006 - $543,750 
2012 - $335,000 (- 38%) 
2018 - $451,750 (+35%)

Ventana CC 
2006 - $1,036,250 
2012 - $425,000 (- 59%) 
2018 - $740,000 (+74%)

Sabino Mountain 
2006 - $914,250 
2012 - $268,400 (-70%) 
2018 - $533,750 (+ 99%)

Every subdivision took a hit – some much bigger than others and, except for Cat 10, none are back to where they were, or even reasonably close to where they were, 12 years ago. 

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

in contract last week, 7/3 - 8/05/2018

From Monday July 30th thru Sunday August 5th -  11 single family homes went to contract in the Catalina Foothills of Tucson AZ (link expires 9/07/2018)

8 were priced from $300,000 to $590,000
3 from $674,900 to $950,000
and that's it, nothing with 7 figures.

that's August for you... the slowest time of year

The numbers for the previous week are HERE

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

$1,000,000+ Home Sales in the Catalina Foothills & Oro Valley/Northwest

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

 

in contract the last 2 weeks, 7/16 - 7/29/2018

From Monday July 16th thru Sunday July 29th -  42 single family homes went to contract in the Catalina Foothills of Tucson AZ (link will expire 8/31/18)

25 were priced $275,000 to $579,000
16 from $649,900 to $890,000
 1 at $1,076,400

The numbers for the previous week are HERE

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