The numbers tell the story of the changing market
| 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 |
| 2024 | 640 | 207 | 32% | $810,000 |
Key points:
● Many fewer homes are selling below -$1m, while sales of homes at $1m+ have tripled in recent years. This shift has significantly changed the Foothills market, with luxe homes now accounting for 32% of the market while -$1m sales have shrunk from 90+% to 68% of the market. Blame it on the enduring effects of the frantic Covid market, Inflation, High interest rates, High home prices and Low inventory of homes to choose from.
● All that upper-end inflated $$$ growth has pushed the median sold price (MSP) to $810,000, a 94% increase from 2016
● Other details;
At $1m+ / 49% of sales were cash & they sold in 12 MDOM / financed sales weren't far behind at 14 MDOM
At -$1m / 37% of sales were cash & they sold in 17 MDOM / financed sales took 28 MDOM
The Catalina Foothills is a desirable area with a limited supply of buildable land. This scarcity, combined with the area's natural beauty, easygoing lifestyle and established infrastructure, continues to fuel strong demand and high home prices.
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 _____________________________________________________________________________________________________________________
