The Market Snapshot was long overdue for an update and I finally did it today.
Going thru the numbers it's obvious that the months of inventory (MOI) are higher now in almost every price range than they were earlier this year and all of last year when, for most price ranges, the MOI was often just 1 or 2 months or less - paving the way to an extreme sellers market, which is exactly what we got.
And while the MOI is higher now it is still much lower than the '6 month rule of thumb' the real estate industry uses as the benchmark of a normal balanced market. With more buyers than there are homes for sale and low MOI, technically it is still a sellers market. But with none of the frenzy, eye popping numbers and extremes of before it doesn't really feel like it. It feels like a shifting market that doesn't know which way to go.
For much of the rest of the USA Labor Day is the end of summer but not for us, aren't we lucky, we still have a few weeks to go.
And I'm thinking, hoping, the Foothills fall/winter real estate season is going to shine a light on where the Foothills market is headed.
John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164
Take care, stay well
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to see all the homes for sale in the Catalina Foothills
(and only in the Catalina Foothills)
