A look at where the Foothills market was and where it is now
| 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 |
| >10/31/24 | 520 | 177 | 34% | $825,000 |
> so far this year
Key take aways:
● with just 520 homes sold so far this year 2024 is poised to rival 2023 for the dubious honor of 'year with fewest home sales'
● While the overall housing market has slowed, the luxury market ($1m+) continues to flourish. Sales at $1m+ have more than tripled in the past eight years and have grown in market share from 6.4% to 34% of all single-family homes sold.
● All that upper-end growth has pushed the median sold price (MSP) to $825,000, a 97% increase from 2016
● And,
At $1m+ / 49% of sales were cash & they sold in 10 MDOM while financed sales weren't far behind at 13.5 MDOM
At -$1m / 37% of sales were cash & they sold in 16 MDOM while financed sales took 27 MDOM.
The Catalina Foothills is a desirable area that is mostly built-out, with very little buildable land remaining. This scarcity of buildable land has contributed to it's strong demand and high home prices and will likely continue to do so.
With its stunning desert landscapes, mountain views, mild climate, and easygoing lifestyle, it's no wonder that the Catalina Foothills continues to attract discerning homebuyers.
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 _____________________________________________________________________________________________________________________
