The following charts track the number of single family homes sold, median sold prices (MSP) and days on market (DOM) in the Catalina Foothills of Tucson, AZ for the period of January 1st thru April 30th of each year from 2015 to this year, 2021.
The home sales, MSP numbers and DOM are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)
First up is the number of homes sold for up to $999,999 - which, this year, represents 80% of the Catalina Foothills single family market with 20% going to the $1,000,000+ market. Prior to this year sales up to $999k represented about 92% of the foothills market, but the big increase this year in sales at $1,000,0000 & UP claimed a bigger piece of the pie for the $1,000,000+ market.
Interesting that just a few more homes sold this year than last year even though last year at this time (March, April) Covid was shutting things down, including homes sales, all over Tucson. The problem this year is not enough homes for sale to meet demand. You can't sell what you don't have.
On the other hand the $1,000,000+ market continues on its wild tear.
WOW, sales at $1,000,000+ jumped 236% from last year & even more from the years prior to 2020.
All those high-end sales contributed to a 24% jump in the MSP over last year.
This chart shows MSP for homes sold at all prices - under and over $1mil.
Lets see what the MSP looks like if we exclude sales at $1,000,000+ and only look at those sold up to $999,999;
2020 - 260 sold for $528,750 MSP
2021 - 265 sold for $605,000 MSP = a 14% increase
What does the MSP look like for the $1,000,000+ market
2020 - 19 sold for $1,260,000
2021 - 64 sold for $1,392,279 = a 10.5% jump in MSP
Put those %'s together and there's the 24% jump in overall median sold prices.
Days on market can't get much lower than it is, currently scraping bottom at 5 median DOM
If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you. Thanks for stopping by.
CLICK HERE for Jan - March report
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