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)
