2024 saw a 7.3% increase in the number of homes sold compared to 2023, accompanied by a 3.94% rise in median sold prices. And notably, Median Days On Market and the % S/LP ratios remained relatively consistent, all of which are usually signs of a strong, resilient market.
The Yearly Numbers
2024
640 Sold / $810,000 MSP / 19 MDOM / 97.4% S/LP
2023
596 Sold / $779,250 MSP / 12 MDOM / 97.8% S/LP
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However, taking a closer look at 2024, a Quarterly breakdown tells a different story. A story that shows that Median Sold Prices dropped in each of 3 consecutive Quarters, resulting in a -12% drop in Median Sold Prices from Q1 to Q4. At best a concerning trend. (%S/LP = % of Sold Price / List Price)
The Quarterly Numbers
#Homes Sold / Median Sold Price / Median Days on Market / % S/LP
Q1 - 157 sold / $865,000 MSP / 27 MDOM / 97.2% S/LP
Q2 - 194 sold / $835,000 MSP / 12 MDOM / 98.6% S/LP
Q3 - 128 sold / $790,000 MSP / 20 MDOM / 96% S/LP
Q4 - 161 sold / $760,000 MSP / 22 MDOM / 97.26% S/LP
I'd love to hear your thoughts on these findings.
Catalina Foothills Homes
TheFoothillsToday.com | TheTucsonFoothills.com
For The Real Scoop on The Foothills Market
John Schneider, Realtor® | Tierra Antigua Realty
[email protected] | 520 271- 4164
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