Median sold prices for homes sold in the Catalina Foothills in July-August 2022 are a fraction higher (+0.60%) than they were this July. And they are 4.4% higher than they were in Q2 and 9.93% higher than they were at the height of the frenzy in Q1 of this year.
The rate of price appreciation is surely slowing and by now may have, probably has, stopped. But thru August sold prices were holding up and were higher than any previous Q since the start of the frenzy in Q1 of 2021.
How can that be, with higher interest rates, falling stock market and many other not so positive issues confronting us.. At least part of the reason prices are (or were) holding up is simple supply/demand. There are more buyers than there are desirable homes for sale in foothills.
John Schneider /Realtor®
Tierra Antigua Realty
[email protected]
520 271-4164
Take care, stay well
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