From Monday July 18 - Sunday July 24 - (just) 9 single family homes went to contract in the Catalina Foothills of Tucson, AZ - 85718 / 85750 (link expires 8/26/2022)
3 were priced from $750,000 to $969,000
6 from $1,100,000 to $2,750,000
And that's it.
Nothing priced under $750k went to contract - (can you believe that) could be the 1st week ever with no contracts at the lower end of the market. And it doesn't appear to be from lack of supply, there are 44 homes for sale priced from $407,500 to $740,000 and they have been on the market for 28 median days, and counting, looking for a buyer.
And once again the DOM has risen substantially, it's 24 DOM for the 9 that went to contract - when, the week before last it was 10 DOM for the 11 homes that went to contract.
On the other hand homes priced from $1,100,000 to $2,750,000 had a jolly good week.
There's no doubt (in my mind) the market's changing, fewer contracts, longer market time to get to contract, regular and growing number of price cuts when, until recently price cuts were seldom seen, few, if any, bidding wars, haha long gone what else?
John Schneider /Realtor®
Tierra Antigua Realty
[email protected]
520 271-4164
Take care, stay well
TheFoothillsToday.com
to see all the homes for sale in the Catalina Foothills
(and only in the Catalina Foothills)
