The Catalina Foothills

In Contract Last Week, 7/17 - 7/23/2023

From Monday July 17 thru Sunday July 23, 16 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  
(link expires 8/25/2023)

5 were listed from $415,000 to $599,000
9 from $675,000 to $995,000
2 at $1,175,600 & $1,650,000

BAM! another busy week for buyers and sellers.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 7/10 - 7/16/2023

From Monday July 10 thru Sunday July 16, 14 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  
(link expires 8/23/2023)

2 were listed at $539,000 and $595,000
9 from $600,000 to $925,000
3 from $1,650,000 to $1,950,000

14 to contract in mid July continues to show there are motivated, persevering buyers willing to brave our HOT summer weather in order to find a home to buy. And no doubt there are other buyers who are still looking and not finding due largely to the scant supply of homes for sale. 
Which, though it's not new news, is very much still with us.

Today there are 89 single family homes for sale
July 2022 there were 116 for sale
July 2021 there were 81 for sale
July 2020 there were 162 for sale
July 2019 there were 267 for sale - which until Covid hit was more or less the "normal" or usual number of homes for sale - 3X todays numbers. 
*I save a copy of each months Market Snapshot and are able to pull the monthly market data from those saved records. 

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

24 Homes Sold in the Last 2 Weeks (7/3 - 7/16/2023)

What were they Listed & Sold for?

Listed	Sold
412,000	412,000
435,000	450,000
500,000	495,000
549,000	550,000
525,000	550,000
575,000	553,000
575,000	575,000
725,000	725,000
775,000	740,000
779,000	750,000
750,000	754,000
765,000	780,000
849,000	820,000
799,900	820,000
1,010,000	982,500
995,000	1,000,000
1,100,000	1,045,000
1,050,000	1,050,000
1,095,000	1,150,000
1,175,000	1,175,000
1,300,000	1,200,000
1,350,000	1,300,000
1,800,000	1,675,000

 

Oddly enough, with the short supply of homes pushing prices up and high interest rates pushing them down, it feels like it's working out to be a strong yet fairly balanced market. With the 24 homes selling at, close to or slightly over list price with no fire sales and nothing going for wildly over list.

24 Homes Sold
(link expires 8/17/2023)

 5 (21%) Sold at List Price 
11 (46%) Sold under List Price 
 8 (33%) Sold over List Price 

24 Sold at $800,000 MSP - in 15.5 MDOM

                 -----------------------------------------------------------

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

TheFoothillsToday.com
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

out of nowhere

Within minutes it went from being just another bright, hot, sunny afternoon to >

And the wash along the west side of my house is now a raging river

The 1st monsoon storm of the season.
It wasn't predicted but it sure was needed. The desert and the desert critters are getting  a much needed big drink and a reprieve from the triple digit temperatures.

Enjoy it

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 7/3 - 7/9/2023

From Monday July 3 thru Sunday July 9, 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  
(link expires 8/13/2023)

3 were listed from $374,000 to $589,000
3 from $600,000 to $680,000
5 from $1,125,000 to $1,928,800

and they went to contract quickly, in 14 median DOM.

11 homes to contract last week, which included July 4th, 18 the week before shows that there are motivated buyers who are willing to brave our HOT summer weather to find a home. 

Looking for homes in the Catalina Foothills can be interesting, pleasant and fun during much of the year, let's say from October - April, when the weather is comfortable and pleasant. But in the summer, when the temps are running from 90° to105° or more, you have to be a very motivated and determined buyer. 

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 6/26 - 7/2/2023

From Monday June 26 thru Sunday July 2, 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  (link expires 8/5/2023)

 5 were listed from $430,000 to $550,000
10 from $725,000 to $999,000
 3 from $1,10,000 to $1,200,000

forget what I said a few weeks ago,  'When the temps go up sales go down'  18 in contract in July is a gangbuster week

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

Catalina Foothills Home Sales / Q1 2021 - Q2 2023

The following charts show Quarterly sales data for Single Family Homes sold in the Catalina Foothills (zips 85718 / 85750) from Q1 of 2021 thru Q2 of 2023.The sales figures are based on homes sold by the Realtors® of the Multiple Listing Service of Southern Arizona, the MLSSAZ.

 
First up is the number of homes sold for up to $999,999, which has unexpectedly turned UP this year after mostly slipping & sliding since 2021

Sales of homes sold for up to $999,999 now represent approximately 75% of all the single family homes sold in the Foothills and that is down from  approximately 90+% in the years before 2020.

But things changed during Covid. Buyers who were willing and able to spend big arrived in droves and were bidding against each for a very tight supply of homes causing prices to rise quickly and pushing many homes that had been market priced at less than $1M into $1M+ territory where they sold very well and continue to be in strong demand. 

As a result $1M+ sales grew from less than 10% of all Foothills sales in the years before 2020,  to 20 - 30% since then. 
And as you can see sales at $1M+ are up this year to nearly as high as they were during the height of the pandemic buying frenzy. 

And that sudden growth took place against a backdrop of the high-end markets' years long struggle to get back on its feet after the 2008 financial crisis - which it did not do until Covid buyers gave it a boost. After bouncing along the bottom for all that time I had lost confidence that the high-end market would recover anytime soon. Now, more homes are selling at $1M+ in many  Qtrs. than sold in an entire year back then.

Median Sold prices appear to have bounced back from the dip they took in the latter half of 22 and are holding up nicely this year.

And the simple Days on Market numbers so easily reflect the momentum of the market

Q1 - Q2 numbers are all pointing in the right direction, home sales are up, sold prices are up, DOM are down.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

In Contract Last Week, 6/19 - 6/25/2023

From Monday June 19 thru Sunday June 25, 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  (link expires 7/31/2023)

2 were listed at $549,000 & $550,000
4 from $699,000 to $975,000
7 from $1,095,000 to $2,395,000

Against a back-drop of high interest rates accompanied by a slippery economic outlook high-end sales aren't hurting as much as you might expect, 93 homes sold at $1mil+ so far this year V. 113 during the same period last year when up to around mid April the outlook and momentum was much stronger than this year.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)