A look at where the market was and where it is today
Year | All Homes Sold | Homes Sold $1m+ | Market Share $1m+ | MSP All $Sold |
2016 | 828 | 53 | 6.4% | $417,250 |
2017 | 898 | 53 | 5.9% | $445,000 |
2018 | 823 | 62 | 7.5% | $485,000 |
2019 | 876 | 60 | 6.8% | $495,000 |
2020 | 930 | 86 | 9.2% | $567,050 |
2021 | 962 | 183 | 19% | $695,000 |
2022 | 715 | 196 | 27% | $770,000 |
2023 | 596 | 176 | 29.5% | $779,250 |
>9/20/24 | 457 | 161 | 35.2% | $830,000 |
> so far this year
Key take aways:
● it ain't over but with just 457 homes sold so far it is likely that 2024 will see the fewest home sales in the last 8 years
● But despite the overall slowdown, the luxury market continues to thrive. Sales of homes priced at $1m+ have more than tripled in the last eight years, and their market share has increased by nearly six times
● As a result, the median sales price (MSP) has reached $830,000, a staggering 99% increase from 2016
Despite the fluctuations of the market, the Catalina Foothills continues to attract those who appreciate its natural beauty, gorgeous climate (for most of the year) and easygoing southwest lifestyle. I hope you enjoy it!
Catalina Foothills Homes
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John Schneider, Realtor® | Tierra Antigua Realty
[email protected] | 520 271- 4164 _____________________________________________________________________________________________________________________