well, that depends - there are a few different markets here in the Catalina Foothills, which one are you interested in?
Is it the market for homes listed for up to under $600,000? If so, the answer is the market is strong, it's doing very well - the inventory is low and activity, contracts and sales are high.
124 homes for sale - 76 in contract - 36 sold in the last 30 days = a skimpy 3.4 month supply of homes for sale
Above $600k the market is weaker.
from $600,000 to $999,999 it's a very different picture;
there are 111 for sale (nearly as many as the homes listed up to $599k) but with just 30 in contract - and just 9 sold in last 30 days = a fat 12 month supply of homes for sale.
at $1,000,000 to $1,499,999 the market is even slower;
46 homes for sale - 2 homes in contract - and just 2 homes sold in the last 30 days = 23 month supply of homes at the current rate of sales.
Contracts are a more accurate picture of currrent market activity than sales, because current sales are the result of deals that were made 30 - 60 days ago while contracts are more recent.
If we compare the relationship of the number of homes for sale to the number in contract at each price range, it looks like this;
$0 - $599,999 - 124:76 (76 in contract = 61% of the number of homes for sale)
$600,000 to $999,999 - 111:30 (30 in contract = 27% of the number of homes for sale)
$1,000,000 to $1,499,999 - 46:2 ( 2 in contract = 4% of the number of homes for sale)
At $1,500,000 & UP it's pretty much the same, slow, there are 37 homes for sale - 4 in contract - 1 sold in the last 30 days.
That is the market at this time.
see TheFoothillsToday.com
to find your very own Catalina Foothills Home
