174 Homes for Sale > $900,000 MLP / 54 MDOM
75 Homes in Contract > $849,000 MLP / 29 MDOM
43 Homes Sold last 30 days > $750,000 MSP / 31 MDOM
MLP = Median List Price / MSP = Median Sold Price / MDOM = Median Days on Market (links expire 11/21/24) the actual # of homes for sale will rise and fall as more homes are listed and go to contract.
Currently;
the median list price of the homes for sale is 5.8% higher than the median list of the homes in contract & 18% higher than the median sold price of the homes that sold. Perhaps suggesting that sellers are more flexible with their asking prices and buyers are more confident to offer less than asking.
Or could it also be that the market for the highest of high priced homes, lets say $1.5m+, has cooled off and they're sitting on the market longer and accumulating as more get listed thereby pushing up the median list price of homes for sale. Supporting that theory is the fact that MDOM is much higher for the 174 Homes for Sale than it is for those in Contract and Sold. The Market Snapshot, also supports that theory showing that there are many more MOI, (Months of Inventory) for homes listed from $1.5m and UP, starting to look like a backlog, than for the rest of the market.
Looking for a home in the Catalina Foothills?
Check out Just Listed to see all the new Foothills listings over the last 7 days
and the Market Snapshot for a closer look at what's happening in your price range
Here's a look at the Yearly October Inventory of Single Family Homes from 2016 to now
A bit more inventory this October than in recent years but still pretty darn tight - with about a 4 month supply at the current rate of sales and we expect that sales will increase over the next few months. And also over the next few months maybe sellers will finally get off the fence and list their homes which could lead to a more vibrant and balanced market.
Catalina Foothills Homes
Get The Real Scoop on The Foothills Market
TheFoothillsToday.com | TheTucsonFoothills.com
John Schneider, Realtor® | Tierra Antigua Realty
[email protected] | 520 271- 4164 _________________________________________________________________________________________________
