The Catalina Foothills

Catalina Foothills 4th Qtr Home Sales down 25%

From January 1st thru September 30th this year Catalina Foothills single family home sales were 4.7% lower than during the same 9 month period in 2017 - a drop that could be viewed as a slight cooling of the market, nothing to get too shook up about. 

But now for the 4th Qtr., from October 1st thru today, single family home sales are down a whopping 25.7% from where they were during the 4th Qtr. of 2017 - not unexpected, given the circumstances, and no quick fix in sight.  

214 single family homes sold in the 4th Qtr of 2017 
159 sold in the 4th Qtr. of 2018 = a drop of -25.7%

there may be a few sales closing tomorrow, 12/31/2018, and if so I will update the numbers. 

If you are getting fewer showings, or no showings at all, small comfort, but you are not alone. The agents I've talked with all report sharply lower activity on their listings. And yes, less activity is also a fact of life during the holidays. But there were the same holidays in the 4th Qtr. of 2017.

Happy New Year!

(the above figures are for single family homes sold at all prices in the Catalina Foothills (85718, 85750) of Tucson, AZ)

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

 

in contract the weeks of 12/17 - 12/23/2018

From Monday December 17th  thru Sunday December 23rd - 12 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 1/25/2019)

7 were priced from $349,900 to $595,000
3 from $783,000 to $845,000    
2  at $1,100,000 & $1,595,000 

under the circumstances - middle of Holiday season that is marred by seriously tanking stock market & volatile political climate - 12 contracts for a wide range of prices is impressive. 

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

 

 

in contract the weeks of 12/3 - 12/16/2018

From Monday December 3  thru Sunday December 16th - 27 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 1/17/2018)

16 were priced from $235,000 to $597,500
 9 from $619,000 to $950,000        
and 1 each at $1,050,000 & $1,499,000 - both of which went to contract before the ink was dry, in just 3 days 
and they couldn't be more different
- $1.050 a burnt adobe built 1969 and sitting on 8 acres in the heart of the old foothills - wouldn't surprise me if the buyer is a builder planning to split the acreage and build - actually it would surprise me if it isn't a builder planning to split 'em up and build. We'll soon see.
- $1.499 a very cool contemporary built 2001 on 0.84 acres behind the pearly gates of Ventana CC. 

Also interesting, these recent two weeks had almost twice as many contracts as the two prior weeks (11/19 - 12/02).
Why, you got me. 

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

in contract the weeks of 11/19 - 12/02/2018

From Monday November 19th  thru Sunday December 2nd - just 15 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 1/09/2019)

9 were priced from $287,000 to $575,000
2 at $600,000 & $997,000
4  at $1,095,000 to $1,995,000

Holy smokes, very few contracts for two weeks but who (not me) expected 4 homes in contract at $1million+ in the midst of the recent and continuing stock market turmoil, and, smack-dab in the middle of the holiday season.

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

Catalina Foothills Home Sales & Sold Prices, January - November 2018

The following charts track single family home sales and sold prices in the Catalina Foothills for the period of January - November of each year from 2004 - 2018. (hover over the data points to see the exact sales figure for each year)

First up, the number of Homes Sold up to $999,999 -
While home sales this year are DOWN almost 9% from last year
they are higher this year (though in some cases just barely) than every other year since 2005.

 

Next up, Catalina Foothills home sales at $1,000,000 & UP
With 58 sales thru November more $1,000,000+ homes have sold this year than in every other year since 2007.

All well and good, but high-end sales are still miles away (-51%) from where they were in 2006 and, at this point, are still not even a threat  to 2007's sales numbers.

 

Sold prices (the brightest spot in the market) this year they are UP almost 10% over last year - and are UP 24% since hitting bottom in 2012 - though, they too still have a ways to go - as they are still DOWN 15% from their 2006 peak.

As we look at sales in the months ahead we are very likely to see some weakness in our market as a result of the recent and continued volatility in the stock market. The two go together like PB & J, particularly at the upper-end, though the results are not always as sweet.

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

Catalina Foothills Home Sales & Sold Prices, January - November 2018

Here are the numbers for single family home sales in the Catalina Foothills of Tucson, AZ for the period of January - November  2017 & 2018.  In a few days I will publish the final numbers along with the charts showing sales from 2004 thru November 2018. 

2017
783 - homes sold up to $999,999
50 sold at $1,000,000+
Median Sold Price, all sales - $442,000

2018
714  - homes sold up to $999,999
58 - homes sold at $1,000,000+
Median Sold Price - $485,000

=
an almost 9% drop this year in sales up to $999,999

a 16% increase this year in sales at $1,000,000+

And an almost 10% increase in median sold prices this year (9.7%)

**In the last two months sales this year have lost ground from where they were in September.
in September sales up to $999k were down 7% v. last year, and sales at $1,000,000+ were up 31% over last year.  

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