The Catalina Foothills

In Contract Last Week, 6/19 - 6/25/2023

From Monday June 19 thru Sunday June 25, 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ, 85718 / 85750  (link expires 7/31/2023)

2 were listed at $549,000 & $550,000
4 from $699,000 to $975,000
7 from $1,095,000 to $2,395,000

Against a back-drop of high interest rates accompanied by a slippery economic outlook high-end sales aren't hurting as much as you might expect, 93 homes sold at $1mil+ so far this year V. 113 during the same period last year when up to around mid April the outlook and momentum was much stronger than this year.

John Schneider /Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
[email protected]
520 271-4164

 TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills 
(and only in the Catalina Foothills)

in contract last week, 11/08 - 11/15/2021

From Monday November 8th thru Sunday November 15th, 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 12/17/2021)

6 were priced from $375,000 to $575,000
9 from $600,000 to $985,000
4 from $1,050,000 to $2,850,000

... another busy week for contracts across a broad range of prices in the Catalina Foothills of Tucson, AZ (85718 & 85750)

 

Take care, stay well

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

Catalina Foothills Home Sales Data / January thru October 2021

Hello and welcome

The following charts track the single family home market in the Catalina Foothills of Tucson, AZ and include the number of homes sold, median sold prices (MSP) and days on market (DOM) for the period of January 1st thru October 31st of each year from 2015 to this year, 2021.

All of the data is based on sales thru the MLSSAZ (Multiple Listing Service of Southern Arizona) and represents all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is a chart showing the number of homes sold for up to $999,999, which comprises 80% of all the homes sold in the Catalina Foothills. It's a market that had been fairly stable until everything changed in Feb-March of 2020.
The  drop in sales of homes sold for under $1Mil is due to the all-time low supply of homes for sale, a predicament that began in Feb-March of 2020 and has worsened this year. The drop in sales is not due to lack of motivated buyers. There are plenty of buyers, there are not nearly enough homes for sale.

today, there just 103 homes for sale
For perspective, in November of previous years there were;
341 for sale Nov 2017
305 in Nov 2018 
268 in Nov 2019 
and by Nov of 2020 we were down to a measly 130 homes for sale, and dropping

For much of this year, during spring & summer, the number of homes for sale hovered in the 60's to 80's range.

 

On the other hand at $1,000,000 & UP sales are Way UP.   How? Why?
A glut of unsold $$Mil+ homes from the 2003 - 2006 $$Mil+ luxury building/selling frenzy that fizzled quickly in 08 and remained fizzled from 2009 to 2017 when fewer than 50 $$Mil+ homes sold each year until 2016 when 53 sold.

This is how it was...


Put that together with an influx of motivated high-end buyers looking for an attractive and less congested and safer place to live and Voila!, sales boomed and continue to boom. So far this year 152 have sold at $$1Mil+

This is how it is

With high demand and short supply homes are selling quickly

Very quickly!

All of which is resulting in higher sold prices, across the board

higher than ever

That's it, a snapshot of YTD sales in the Catalina Foothills Single Family Home market.

For more recent info checkout my postings of ".... In Contract last week ..." which show recent contract activity and checkout the Market Snapshot for breakdown of what's happening in your price range. 

Please contact me if you have a question or would like my help navigating the Catalina Foothills real estate market.
Thanks for stopping by

John Schneider /Realtor®
Tierra Antigua Realty
[email protected]
520 271-4164

 

Take care, stay well

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

in contract last week, 2/19 – 2/25/2018

From Monday February 19th thru Sunday February 25th  24 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/29/18)

15 were priced from $232,000 to $599,900
  8  from $643,900 to $895,000
  1 at $1,650,000

Those 24 homes were on the market for 39 median days before going to contract – a 62% jump in # of days on market from the previous week.

During that same week 31 new listings came on the market – priced from $310,000 to $2,150,000. And all 31 were new listings, not re-listed old listings – for a grand total of 330 single family homes for sale in the Catalina Foothills today.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 2/12 – 2/18/2018

From Monday February 12th thru Sunday February 18th  22 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/22/18)

16 were priced from $325,000 to $539,000
  6 from $615,000 to $949,000
and that’s it. a rare week with nothing at $1.0+

The 22 homes that went to contract did so in 24 median days on market. 

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

 

Median Sold Price Rises to $527,000

70 homes have sold since Jan 1 (from 1/1 – 2/15) and, incredibly enough, the median sold price for those 70 homes is $527,000.

And that is huge, because $527,000 is an 18% jump from 2017’s median sold price of $445,000. 

And, oddly enough, $4445,000 was also the median sold price for the 83 homes sold during the same 1/1 – 2/15 period in 2017.

So thinking I was on to something I looked at 2016 and the 2016 median sold price was $417,250 for the whole year. And it was $416,000 during the same 1/1 – 2/15 period. 

Seeing two years where median sold prices for the entire year were, it appeared, being  predicted by sold prices during the first 6 weeks made me wonder if I’d stumbled onto a fascinating new way to predict where the market is headed.

Wow!, was I onto something or what. Turns out, or what.

I checked 2013, 2014 and 2015. And my fascinating theory quickly fell apart. In each of those years the median sold price during the first 6 weeks of the year was not the same or even close to where it ended up for the entire year.

However, in every year the median sold price for the entire year was higher than it was during the first 6 weeks.

If that holds true this year, and I’m not saying it will, 2018 could experience the largest ever increase in home prices.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 2/5–2/11/2018

From Monday February 5th thru Sunday February 11th  21 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/15/2018)

Something for everyone - a week of contracts priced from the bottom to near the top of the market.

11 were priced from $275,000 to $545,000
8 from $600,000 to $995,000
1 each at $1,249,000 & $2,950,000

Those 21 homes went to contract pretty quick, in 22 median days on market.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

listed and sold this year, 2018

I’ve been anxious to see how our hot market is effecting list price to sale price ratios and how quickly homes are selling. And I wanted to see how the market is impacting actual individual homes, not statistics, not %’s of this or that. And I wanted it to be limited to homes that were listed and sold this year, so that it would reflect how both sellers and buyers are approaching the market this year.

So I pulled everything listed this year that went to contract and sold this year, and, voila, here’s what I found.

5532 N Star Canyon Court, Tucson, AZ 85750, listed for $269,900 went to contract in 3 days and sold  for $268,000.

3901 E Vía Del Verdemar, Tucson, AZ 85718, a patio home with mountain views in La Paloma, listed for $314,900, it went to contract before it hit the MLS and sold for $324,900, yep $10k over list.

7744 E McGee Mountain Road, Tucson, AZ 85750, listed for $450,000 it went to contract in 8 days and sold for $450,000.

6608 N Calle Padre Felipe, Tucson, AZ 85718, listed for $494,000 it went to contract in 3 days and sold for $495,000.

4774 N Coop Canyon Place, Tucson, AZ 85750, listed for $529,000 it dragged it out to 7 days before going to contract and sold for $529,000.
This home, along with 7744 E MccGee Mountain Road, up above, are both in the Shadows of Sabino subdivision. $529,000 is the highest price paid for a home in the Shadows of Sabino since 2008 – and during that time 68 homes have sold in there.

4940 E Calle Guebabi, Tucson, AZ 85718 in Skyline Bel Air, listed for $545,000, went to contract 6 days later and sold for $540,000.

4920 N Post Trail, Tucson, AZ 85750, in Sunrise Territory Village, listed for $650,000 it went to contract its first day on the market and sold for $650,000.

No doubt this is a small segment of the market. There are many other homes that were listed this year that have gone to contract but not yet sold and there are others that are still for sale, that have not gone to contract.

Nevertheless, including the above examples, there are many indications that increasingly we are moving to a sellers market, that is, up to about the $700,000 to $800,000 price range. Above that, according to the numbers anyway, it’s still a buyers market.

Stay tuned, we will continue to evaluate the market and report the results here.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

Pima Canyon takes early lead in Catalina Foothills upper-end home sales

Since January 1st  6 homes  listed at $1Million+ have sold;

1 in Ventana CC
1 in Cobo Catalina Hills
1 in Skyline CC
3 in Pima Canyon

See them HERE
(link will expire on 3/13/2018)

No surprise there, more often than not Pima Canyon leads the pack in upper-end sales. Why? Biggest reason, because the homes in PC are generally newer than those in other high-end communities, and more buyers prefer newer homes. 

That said, there are 7 homes in contract listed at $1Million+ and NONE are in PC. 3 are in Skyline CC, 1 in Cobblestone, 1 in Coronado Foothills Estates, 1 in La Paloma and 1 in an in-subdivided area.

However, last year 63 homes sold that were listed at $1Million+, and 14 of them sold in Pima Canyon – by far the most sales of any upper-end subdivision.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 1/29 – 2/4/2018

From Monday January 29th thru Sunday February 4th  19 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire 3/7/2018)

15 were priced from $312,500 to $500,000
3 from $619,000 to $990,000
1 at $1,395,000

12 of the 19 homes went to contract very quickly, from 1 to 24 days on market, or after just 11 median DOM (days on market)

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

a quick peek at home sales so far this year

The following data is for all single family homes sold in the Catalina Foothills of Tucson Arizona during the first 4 weeks of this year and last year. However, keep in mind that most, if not all, of the sales are the result of deals that were made in November/December of the previous year, that is, 2017 and 2016.

2018
39 homes sold
$525,000 median sold price
sold in 28 median days on market
Lowest priced sale – $195,000
Highest – $2,200,000

vs.

2017
52 homes sold
$437,500 median sold price
sold in 69 median days on market
Lowest priced sale – $206,600
Highest - $1,100,000

So far,
- home sales this year are down 25% from last year
- median sold prices are up 20% over last year
- homes sold 59% faster this year than last year

And it’s just 4 weeks so we’ll see where things go from here; we will continue to track sales as the year progresses. Your questions, suggestions and comments are most welcome. Just click the Comments tab at the bottom of this post. 

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract the last 2 weeks, 1/15 –1/28/2018

From Monday January 15th thru Sunday January 28th  42 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link will expire on 2/28/18)

26 are priced from $244,900 to $550,000
13  from $615,000 to $950,000
3 from $1,049,000 to $2,399,000

A few comments on a few contracts;
A foreclosure with 4 acres on Sabino Canyon Rd listed for $245,000 went to contract in 36 days. Prior to this current listing it had been on and off the market from 2008, when it was listed for $1,200,000 (seriously,$1.2mil), until 2013 when it left the market listed at $324,500. During that time it was listed for $950,000, $900,000, $850,000, $820,000, $749,000 $450,000 and so on. But no one went for it until the bank came along and priced it to sell. It doesn’t always happen that way. Occasionally, when a property is listed way high and the price is reduced and reduced again it can be tempting to think that because of the drastic price cuts that the property is now a really good deal. And it may be, but often it’s not. It’s just a drastically overpriced property that has had a few big price cuts but still has a way to go. 

The slow rise in Catalina Foothills home prices is vividly illustrated by a home in Shadow Hills, one of the most popular subdivisions in the foothills. It sold for $350,000 in 2009 and one year ago it was listed for sale again, this time for $429,900. But no takers and after a few price cuts it got down to $365,000, and finally went to contract listed at $365,000. Essentially its 2009 price.

On the other hand; a luxury home in Skyline CC that had been on and off the market for about 6 years before it sold in 2016 for $2,100,000, was listed this January for $2,399,000 and went to contract in 14 days.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract the 1st 2 weeks of 2018, 1/1–1/14/2018

From Monday January 1st thru Sunday January 14th  34 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 2/18/18)

23 were priced from $269,900 to $599,000
10 from $649,000 to $899,000
1 at $1,099,000

34 contracts during the 1st 2 weeks is a pretty good start to the new year. Though, not great, during the 1st 2 weeks of 2017 there were 41 contracts.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

sold prices, from peak to trough to now

I've mentioned previously that median sold prices in the Catalina Foothills had dropped 31% from their 2006 peak to their bottom in 2012, and that since then prices have inched up just 14%, resulting in a very weak price recovery.  But a big chunk of that 14% increase was due to prices rising 6.6% last year alone, in 2017.

And that is accurate, but it’s an overall figure, for all homes sold throughout the foothills. And as I’ve mentioned before, ‘…prices across the foothills do not march in lockstep. Some areas, price ranges and even individual homes, perform better or worse than others’.

So here’s a look at how much better or worse individual subdivisions performed during the peak year 2006 to the bottom in 2012 and then in 2017. The following figures are median sold prices for all single family homes sold in each subdivision during the full year shown.

Under the sold price is the % change from 2006 to 2012 and from 2012 to 2017.     
Click any of the highlighted subdivision names to see all the homes currently for sale.
** indicates just one home sold

Area	2006	2012	2017
All Foothills Sales	$570,000	$390,000 -31%	$445,000 +14%
Shadow Hills	$633,750	$425,000 -33%	$518,500 +22%
Pima Cyn	$1,766,500	$1,082,500 -39%	$1,105,000 +2%
Sin Vacas	$915,000	$625,000 -32%	$642,500 +3%
Catalina Fthls 1-9	$677,500	$530,000 -22%	$557,000 +5%
Catalina Fthls 10	$1,200,000	$992,500 -17%	$1,065,300 +7%
La Paloma Est	$2,475,000	$1,065,000 -57%	$1,078,750 +1%
La Paloma (not Estates)	$625,000	$472,500 -24%	$475,000 +a smidge
Cobblestone	no sales	$1,004,965**	$867,000 -14%
Canyons	no sales	$2,100,000	$1,789,348 -15%
Hacienda del Sol	$1,200,000	$767,500 -36%	no sales
Foothills ll	$1,062,000	$979,750 -8%	$1,257,500 +28%
Pinnacle Ridge	$952,500	$651,000 -32%	$775,000 +19%
Skyline CC	$1,000,000	$641,000 -36%	$612,000 -4%
Skyline Bel Air	$597,250	$345,500 -42%	$422,000 +22%
Alta Vista	$1,050,000	$845,000 -19%	$825,000 -2%
Cimarron	$722,500	$435,000 -40%	$604,000 +39%
Flecha Caida	$528,500	$343,000 -39%	$424,500 +24%
Fairfield	$560,000	$360,000 -35%	$430,000 +19%
Villages of Ventana	$485,000	$341,500 -19%	$380,000 +11%
Ventana Golf Villas	$619,900	$340,000 -45%	$495,000 +46%
Ventana Lake, Cyn Est, Whalebck	$1,150,000	$1,207,500 +5%	$775,000 -36%
Ventana Cyn Mountain Est	$2,212,500	$1,700,000** -23%	No sales
Sabino Mtn	$839,250	$319,950 -62%	$366,250 +14%

Nope, prices sure didn't march in lockstep, they’re all over the lot, both in how far they fell and how much they’ve recovered. Though there is some similarity in the subdivisions that are showing a stronger recovery. Mostly, they are moderately priced, long time favorites such as Shadow Hills, Fairfield, Pinnacle Ridge, Flecha Caida, Skyline Bel Air and Cimarron. Communities that are home to families and people who live and work in Tucson year round. And who therefore need to buy a home to have a place to live, rather than those communities that cater to a large number of 2nd home & retirement home buyers who are making a discretionary purchase, one that is usually not a must have purchase and can therefore be delayed and delayed indefinitely. There my be other reasons for the disparity, but that's my theory.

Nevertheless, this has been a painfully slow recovery, it's six years since prices hit bottom and we're still well below where they were in 2006. 

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

2017 Catalina Foothills Home Sales

Home sales under $1,000,000 had another very good year and sales above $1,000,000 had another so-so year. No big surprises there, though I did expect the $1.0mil+ market to eek out a few more sales.

The numbers:
A grand total of 897 single family homes sold in the Catalina Foothills in 2017.

That is 8.2% more homes sold than in 2016 and a great deal more than every year since 2006.They sold quickly too, at a median of 39 days on market, 38% quicker than it took in 2016. And 2017 median sold prices are 6.6% higher than they were in 2016.

Broken down into two price ranges, homes sold up to $999,999 and those sold for $1,000,000 & UP, it looks like this;

First up, the number of homes sold up to $999k each year from 2004 thru 2017. Clearly, a market with impressive gains that has grown stronger year by year.

 

Next up, the number of homes sold at $1,000,000 & UP each year since 2004.
Well, the good news is, with 53 homes sold in 2016 & in 2017  (yes, 53 sold each year) sales for the last 2 years are higher than they’ve been since 2009. But not by much. And with sales still 57% below where they were in 2006, it is, frankly, a rather pathetic recovery for the upper-end market.

 

And, median sold prices.
2017 Median sold prices are UP an impressive 6.6% over 2016. However, since bottoming out in 2012 median sold prices are up just 14% since then – and 6.6% of that gain is thanks to 2017’s impressive numbers. Bottom line, other than 2017, sold prices have risen at a snails pace, though, perhaps and hopefully, that is finally changing. We’ll see.

Happy New Year!
see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 12/18 –12/24/17

From Monday December 18th thru Sunday December 24th  9 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/28/18)

6 were priced from $198,000 to $478,000
1 at $699,000
2 at $1,195,000 & $2,495,000

Depending on the sale price the contracts at $1.195 & $2.495 may end up being the highest sale price in 10 years in their respective subdivisions (Cobo Catalina Hills & Ventana Canyon Mountain Estates). Also noteworthy, they each went to contract in just 52 & 94 days, amongst the quickest sales in the last 10 years in their respective subdivisions.

Happy New Year!

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 12/11–12/17/2017

From Monday December 11th thru Sunday December 17th  16 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/19/2018

9 were priced from $269,900 to $575,000
5 from $645,000 to $953,000
2 at $1,100,000 & $1,395,000

A very active week for this time of year.

The numbers for the previous week are HERE

*Inventory is low, just 299 single family homes for sale in the Catalina Foothills today, but new listings should pick up after the new year.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

the best September, October, November in 14 years

Home sales in the Catalina Foothills did very well all through 2017 but they did exceptionally well in September, October & November – a time when one does not expect such a raging market. On numerous occasions over the last few months I wrote about how well our Catalina Foothills home market was doing - about the many homes selling and how quickly they were selling. Somewhat to my amazement.

And now, with the numbers in hand, it turns out it’s even better than I thought. In fact many more homes sold and sold much quicker during this September, October & November than in every year going back to and including 2004 - 2005, when the market was on fire.

In 2004 the exact same number of homes sold, 218, as sold this year, but in 2004 they took more than twice as long to sell. In 2005 167 sold and they also took more than twice as long to sell.

1st place - Sept, Oct, Nov. 2017 – 218 homes sold in a blazing fast 32 median days on market.

2nd - 2016, 187 sold in 48 days on market.

3rd -  it depends; take your pick
2014 – 183 sold in 91 days 
2015 – 163 sold in 57 days

4th – 2013, 160 sold in 63 days.

If the market was on fire in 2004 – 2005, and it was, what’s it on now.  

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 12/4 – 12/10/2017

From Monday December 4th thru Sunday December 10th  12 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/13/18)

5 were priced from $269,000 to $359,000
6 from $600,000 to $950,000
1 at $1,145,000

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

Sold, then & now

It’s always interesting, and often sobering, to compare the selling price of homes that sold back in the boom years (when the sky was the limit) to what they have sold for more recently. If nothing else, it demonstrates that sold prices have not performed uniformly throughout the Catalina Foothills. Not hardly!! For a variety of reasons some homes perform better or worse than others.

I have done my best to choose homes that are materially in the same condition today as they were at the time of the previous sale – that is, they have not had substantial improvements done since the first sale.

In no particular order;

On Sabino Mountain - 4181 N Quail Canyon Drive, Tucson, AZ 85750 sold for $675,000 in 2004 and sold again yesterday for $760,000 – UP a meager 12.6% since its 2004 sale, which, believe it or not, is better than the overall markets’ 10% increase since 04. 

In La Paloma Estates - 3170 E Via Palomita, Tucson, AZ 85718 did quite nicely. It sold for $1,132,500 in 2006 (the tippy top of the market) and for $1,078,750 the other day – just 4.7% less than its 2006 sale - while the overall foothills market is still down –22% since 06.

In Ventana CC - 6010 N Desert Moon Court, Tucson, AZ 85750 sold in 2007 for $1,015,000  and for $659,500 the other day – a 35% drop – while the overall foothills market is down 18% since 2007.

In Alta Vista - 6269 N Paseo Valdear, Tucson, AZ 85750 sold in 2007 for $849,000 and for $740,000 two weeks ago – a 13% drop for Valdear in a market that is down nearly 18% during that time.

In Sunrise Presidio Village - 4650 N Paseo Presidio, Tucson, AZ 85750 sold for $425,000 at the top of the market in 2006 and for $465,000 last week – a 9+% increase in a market that is down –22% since 06.

In La Paloma - 6191 N Placita Pajaro, Tucson, AZ 85718 sold in 2007 for $540,000 and for $475,000 last month – 12% less in a market that is still down nearly 18% since 07.

In Sabino Town And Country Estates - 8001 E Ocotillo Drive, Tucson, AZ 85750 sold for $655,000 in 2007 and for $488,000 last month – a 25% drop in a market that is down 18% since 07.

In Bonita Ridge - 5008 N Valley Shadows Place, Tucson, AZ 85750 sold for $560,000 in 2008 and for $496,000 last month – an 11% drop since 08 in a market that has dropped almost 16% since 08.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 11/27–12/3/2017

From Monday November 27th thru Sunday December 3rd  15 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 1/5/2018)

13 were priced from $225,000 to $549,000
2 at $634,000 & $899,000
and that’s it, the big money kept to the sidelines last week.

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

The First 11 Months; Catalina Foothills Single Family Home Sales & Sold Prices thru November

The following charts track single family home sales & sold prices in the Catalina Foothills for January – November of each year from 2004 to 2017.

First up, the number of homes sold up to $999,999

Thru November Catalina Foothills home sales up to $999,999 are UP more than 11% over  2016.
And they sold quicker this year, 29% quicker than last year – in 38 median days on market v. 62 last year. Homes even sold quicker this year than they did in 2004 – 2005, when the market was going thru the roof, 91 & 65 days on market then v. a skimpy 38 days now.

Next up, the number of homes sold at $1,000,000 or more

Last month I said;
Sales at this price point have been bouncing along the bottom for the past 9 years, 9 years with very little (hardly any) improvement, with sales up a little bit one year and down the next.

And for the most part that is still true. Except that this year (for the first time in years) will be the 2nd year in a  row of (marginally) growing sales. Sales rose in 2016 and they have risen again this year.  Nevertheless, the big picture is more than twice as many $million homes sold in 2006 than will sell this year. That's a fact. 

And median sold prices for Catalina Foothills homes.

Thru November median sold prices this year are UP 6% over 2016  - the largest yearly increase since 2013. And a pretty healthy increase for just one year.
However, since hitting bottom in 2012 median sold prices in the Catalina Foothills are up a measly 14%. Measly, I say, because prices dropped 32% from their 2006 high to their 2012 low. So we've still got a long way to go go go to get back to where we were 11 years ago. 

Please keep in mind that sold prices do not perform uniformly throughout the Catalina Foothills. Some areas, some homes, some price ranges perform better or worse than others. The median numbers are only indicative of the overall Foothills market.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

Long overdue

If you follow the Market Snapshot chart on this blog or the Just Sold link on my web site you probably noticed that both of them were 2 or more weeks overdue for an update. I finally got around to doing it today.

Market Snapshot

&

Just Sold

Blame my tardiness on the holidays, I do.

Cheers!

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 11/20–11/26/17

From Monday November 20th thru Sunday November 26th (Thanksgiving week!) just 8 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/29/17)  

4 were priced from $310,000 to $595,000
2 at $600,000 & $699,000
2 at $1,099,000 & $1,100,000 (in 13 & 35 days on market)

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

just the numbers, YTD

The following numbers are for single family homes sold up to $999,999 in the Catalina Foothills of Tucson,  AZ from January 1st thru November 22nd - 2016 & 2017.

2016
683 homes sold at $406,000 (median sold $$) in 62 median DOM.

2017
760 homes sold at $430,000 (median sold $$) in 38 median DOM

So, in 2017 11% more homes sold at 6% higher median sold prices in 38% fewer days on market. That’s a pretty good improvement for one year, and we’ve still got a bit to go. 

Same deal, but this time for homes sold at $1,000,000 & UP

2016
44 sold at $1,250,000 (median sold $$) in 74 median DOM

2017
48 sold at $1,192,500 (median sold $$) in 112 median DOM

So, in 2017  9% more homes sold at –4.6% lower median sold prices in 51% more days on market. A mixed bag, a few more sold but they took longer to sell and median sold prices slid a bit – at risk of repeating myself, a market that is still (after 8 years) struggling.

Yes struggling, though you’d never know it from the number of shiny new $1million+ listings hitting the market – there are now 83 homes listed for sale at $1,000,000 & UP, and more to come come January, Feb and March.

see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

 

in contract the last 2 weeks, 11/6 – 11/19/2017

From Monday November 6th thru Sunday November 19th 31 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/20/2017)

16 were priced from $219,900 to $488,000
13 from $649,000 to $979,000
2 at $1,049,999 & $1,495,000

This is the first time in memory that the middle price range ($600,000 to $999,999) has nearly as many contracts as the lower end of the market.

Everything is selling (I exaggerate, not quite everything but nearly) homes that have just come on the market and homes that have been on almost 1200 days, they’re all selling.  
They didn’t sell last year or the year before but they’re selling now. The listings that are sometimes referred to as lifetime listings, yep, they’re selling. Why, the market is hot and inventory is tight which causes buyers to compromise and do deals they would not have done in years past. Because, if you want to buy a house you have to participate in the market that you’re in, not the market that you wish you were in. For years buyers held the cards and called the shots. It looks like the tables are turning.

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

what’s selling at $800,000 to $900,000

A few of the sales mentioned below were noted in the post I did last week, but with less, or no, background.

in La Paloma Estates, 3350 E Vía Palomita, Tucson, AZ 85718 was listed for $850,000 and sold for $819,000 ($181/sf) in 6 days. That’s quick, but that’s a hot market for you. And it’s also long overdue. 3350 was for sale last year and the year before for a total of 566 days and didn’t sell. It didn’t sell because it was priced too high, it started out in late 2104 at $1,200,000 and over 2 years drifted down to $889,000 and left the market unsold in August 2016. But low inventory and a hot market helped it go in 6 days this time round.

Not so for 6000 E Territory Avenue, Tucson, AZ 85750. It was listed for $899,900 and sold for $825,000 ($173/sf) in 19 days – despite the fact that $825,000 is big money in Sunrise Presidio Village. How Big? Since January 1, 2010 this is the only home sold in there for $800,000 or more. The next highest sale was $690,000 and that sold this July. Why, the market is hot and inventory is tight which causes buyers to do deals they would not have done in years past. PS - Zillow valued it at $870,987

in Skyline CC, 7019 N Javelina Drive, Tucson, AZ 85718 was listed at $849,900 and sold for $829,000 ($280/sf) in 8 days - Zillow nailed it at $826,000. Tidbit; it didn’t sell but in 2006 it was listed for $1,695,000. Imagine that!

in Finisterra, 6030 E Finisterra, Tucson, AZ 85750 finally made it from listing to sold. It started out in late 2015 asking $1,195,000 then $995,000 and hung in there for 625 days before selling for $850,000 ($166/sf) this September. I have to wonder if back in 2015, when they first listed it, if the sellers were swayed by Zillow’s zestimate of $1,200,000 which in time grew to $1,314,472. They may have been, but buyers definitely were not.

in Ventana Reserve, 7351 E Autumn Dusk Place, Tucson, AZ 85750 was listed for $889,000 and 22 days later got and took $865,000 ($244/sf). At $873,000 Zillow nailed it again.

in Ventana Reserve, another very quick sale - 6028 N Indian Trail, Tucson, AZ 85750 was listed for $900,000 and sold in 6 days for $900,000 ($198/sf) – $46 less/sf than Autumn Dusk up above. Why, not sure. This one, Indian Trail is a 2 story and Autumn Dusk is a one story. Nevertheless, Zillow got it right at $894,838.

in Cobblestone, 7401 N Cobblestone Road, Tucson, AZ 85718 started high, at $1,495,000 in March 2016, and sold low, for $867,000 (a mere $119/sf, in Cob). This, for a home that sold for a cool $1million in 1995.
And here we go again with who is listening to Zillow.  When it was first listed in March 2016 Zillow had it at $1,500,000, hmm, coincidence?   
And now Z still has it at $1,361,251. If wishes were …

in Alta Vista, the ever popular 6360 N Placita De Tia Ro, Tucson, AZ 85750. It sold for $850,000 in 2013 and sold again for $850,000 in May of this year and sold yet again 6 months later (the other day) on November 10, 2017 for $869,000 ($232/sf) from an $869,000 list price in 2 days. Yep 2 days.  Zillow was spot on at $866,000.

Those are all fairly high priced sales and 5 sold in less than 20 days + 1 at 22 days and a few leftovers from years past carrying the heavy baggage of long months on the market. With higher priced homes selling this well and this quickly at this time of year it will be interesting to see what happens when our high season kicks off in January - May.

Those 8 sales are all the homes sold in the Catalina Foothills at $800,000 to $900,000 since September 1, 2017. See them HERE

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to find your very own Catalina Foothills Home

in contract last week, 10/30 – 11/5/17

From Monday October 30th thru Sunday November 5th 15 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/09/17)

*MDOM = Median Days on Market

11 were priced from $249,900 to $599,000 – 18 MDOM
4 from $794,900 to $835,000 – 32 MDOM
and that’s it

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

actual recent sales

To really get a handle on what’s happening in the market it’s helpful to see the actual homes that are selling, and for what they're selling for and how long they take to sell. So rather than a bunch of statistics and charts with averages and medians, the following are the list and sold prices plus days on market for the homes that sold recently.

I pulled everything that sold for $500,000 or more since October 1st – no cherry picking and no editing, they appear in ascending price order.
Click any highlighted subdivision name to see all the homes currently for sale.

in Coronado Foothills Estates / 6720 N Alvernon Way, Tucson, AZ 85718 – listed $509,000 sold for $500,000 in 10 days.

in Cimarron / 6036 E Paseo Cimarron, Tucson, AZ 85750 – listed $500,000 sold for $515,000 in 3 days.

5180 N Hidden Valley Road, Tucson, AZ 85750 – listed $525,000  sold for $500,000 in 1 day.

in Sabino Crest Estates, 5935 N Sabino Canyon Road, Tucson, AZ 85750 – listed $539,000 sold $535,000 in 59 days.

in Sunrise Presidio Village, 5731 E Paseo Caborca, Tucson, AZ 85750 – listed $549,000 sold $528,000 in 2 days.

in Sin Vacas, 2400 E Placita Sin Lujuria, Tucson, AZ 85718 – listed $562,000 sold $549,450 in 168 days.

in La Paloma, 5801 N Paloma Ridge Lane, Tucson, AZ 85718 – listed $624,000 > $599,000 sold $583,000 in 182 days.

in Skyline CC, 6770 N Mamaronick Drive, Tucson, AZ 85718 – listed $700,000 > $689,000 > $670,000 > $650,000 > $625,000 finally sold $565,000 in 215 days.

in Catalina Foothills Est 8, 2125 E Camino La Zorrela, Tucson, AZ 85718 – listed $649,000 > $$624,000 sold $615,000 in 136 days.

in Canyon View Est, 6141 N Canon Del Pajaro, Tucson, AZ 85750 – listed $699,999 > $697,000 ha > $695,000 ha-ha > $649,000 sold for $615,000 in 336 days.

in Vista De Las Candelas, 6835 N Camino De Fray Marcos, Tucson, AZ 85718 – listed $665,000 sold $640,000 in 15 days.

in Ridge At Ventana Canyon, 6365 N Ventana View Place, Tucson, AZ 85750 – listed $699,000 sold $690,000 in 0 days. Swept up before it hit the market. And it’s a 2 story too!

in Skyline CC, 5151 E Saint Andrews Drive, Tucson, AZ 85718 – listed $739,000 sold $645,000 in 100 days.

in Catalina Foothills Estates NO. 3, 5565 N Via Elena, Tucson, AZ 85718 – listed $949,000 > $895,000 > $845,000 > $795,000 > $749,000 sold $715,000 in 266 long days.

in Sabino Vista Hills, 8421 E Brookwood Drive, Tucson, AZ 85750 – listed $899,000 > $799,000 sold $757,500 in 151 days.

in Pima Canyon, 1972 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $895,000 > $850,000 > $799,000 sold $725,000 in 206 days.

in Skyline CC, 7019 N Javelina Drive, Tucson, AZ 85718 – listed $849,900 sold $829,000 in 8 days.

in Ventana Reserve, 7351 E Autumn Dusk Place, Tucson, AZ 85750 – listed $889,000 sold $865,000 in 22 days.

in Ventana Reserve, 6028 N Indian Trail, Tucson, AZ 85750 – listed $900,000 sold $900,000 in 6 days.

in Catalina Foothills Estates, 5040 N La Lomita, Tucson, AZ 85718 – listed $990,000 > $975,000 > $950,000 sold $920,000 in 181 days.

next up, the Quiet Canyon Trio  

in Pima Canyon, 2033 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $999,900 sold $980,000 in 6 days.

in Pima Canyon, 2293 E Quiet Canyon Drive, Tucson, AZ 85718 – listed $1,100,000 sold $1,032,500 in 65 days.

in Pima Canyon, 2263 Quiet Canyon Drive, Tucson, AZ 85718 – listed $1,300,000 > $$1,250,000 > $1,190,000 > $1,150,000 sold $1,030,000 in 413 days.

in Foothills ll, 6946 N Mercer Spring Place, Tucson, AZ 85718 – listed $1,295,000 > $1,249,000 sold $1,185,000 in 112 days.

in Ventana CC, 6882 E Desert Wind Court, Tucson, AZ 85750 – listed $1,250,000 sold $1,200,000 in 23 days.

in Skyline CC, 6820 N Los Leones Drive, Tucson, AZ 85718 – listed $1,780,000 sold $1,645,000 in 120 days.

that’s it. 27 homes sold for $500,000 & UP since October 1st.
All in all, after reviewing list and sold prices and days on market, it appears to me that the market is doing quite well. And putting those sales numbers together with recent contract activity reinforces my opinion that we are in a market that is growing stronger month by month.  
See the 27 Sold Listings HERE    (link expires 12/8/17)

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to find your very own Catalina Foothills Home

The First 10 Months; Catalina Foothills Single Family Home Sales & Sold Prices

The following charts track single family home sales & sold prices in the Catalina Foothills for January – October of each year from 2004 to 2017.

First up, the number of homes sold up to $999,999

Thru October home sales up to $999k are UP nearly 13% over the same period in 2016 – and are now well ahead of every year since 2005.

And they sold quicker this year, 29% quicker than last year – in 44 median days on market v. 62 last year. Homes even sold quicker this year than in 2004 – 2005, when the market was going bonkers, 91 & 65 days on market then v. 44 now.

Next up, the number of homes sold at $1,000,000 or more

Sales at this price point have now been bouncing along the bottom for the past 9 years, 9 years with very little (hardly any) improvement, with sales up a little bit one year and down the next.

Look at it this way; More homes sold during January –October 2006 alone than in any consecutive 3 year period since then. 
2009 – 2011 = 105 sold for all 3 years
2012- 2014 = also 105 sold
2015 – 2017 = 110 sold
2006 – 112 sold

And finally, median sold prices for Catalina Foothills homes.

Thru October median sold prices are UP 5.7% over 2016  - the largest yearly increase since 2013.

And they are also UP over every year since 2009, but not by all that much – they’re UP a measly 14% since hitting bottom in 2012 – 5 long years and prices have only risen 14%.
But, as noted above, they are UP 5.7% over last year, that’s 5.7% in one year. And maybe just maybe, with the very healthy increase in sales over last year (at under 1$million) we will continue to see a healthy increase in sold prices.

Please keep in mind that sales and sold prices do not perform uniformly throughout the Catalina Foothills. Some areas, some homes, some price ranges perform better or worse than others. The median numbers are only indicative of the overall Foothills market.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 10/23–10/29/17

From Monday October 23rd thru Sunday October 29th  18 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 12/02/17)

MDOM = Median Days on Market

10 were priced from $215,000 to $499,000 -  65 MDOM
6 from $699,600 to $985,000 – 8 MDOM
1 each at $1,549,000 & $1,550,000 – 22 & 1228 Days on Market

!8 contracts, not a particularly large number of contracts for this time of year. But what is significant, I think, because it is the kind of thing that doesn’t happen unless the market is hot or heating-up, is some of the homes that did go to contract last week;

- a home that has many interior and exterior steps, steps from here to there and back again. A feature that typically means a long time on the market before a willing buyer comes along, but not this time.

- a graceful and large (7000+ sf on 6+ acres) estate built in the 1950’s that I’m guessing may have been bought by a builder to tootsie up the main house, split the 6 acres into 3 or 4 parcels and build new homes.

- a home in Pima Cyn that went to contract in 22 days priced at more than $350/sf. If it sells for $325/sf or more, and I expect it will, it will be amongst the top 2 or 3 or 4 $$/sf sales in Pima Cyn in the last 5 years. And priced at $1,549,000 and going to contract after just 22 days is nothing to sneeze at either.

- a spec home priced at $985,000 went to contract in 3 days.

- 6 of the 18 homes went to contract in less than 10 days.

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 10/16 – 10/22/17

From Monday October 16th thru Sunday October 22nd  17 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 11/25/17)

MDOM - is Median Days On Market

15 were priced from $289,900 to $599,950 – in 37 MDOM
1 at $615,000 – in 116 days on market
1 at $1,395,000 – in 798 days on market

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

The Catalina Foothills market is heating up

Looking only at recent sales, from 9/15 – 10/21

-sales of single family homes are UP 31% over the same period last year. 76 v. 100 sold this year.

-more homes are selling quicker – last year 19 homes sold  in 10 days or less, v. 32 this year

-the total $$ value of the homes sold last year was;
$37,266,334 
this year it’s $49,469,659,  a 32% increase.

why stop there, let’s see what the market did in 2015 v. this year

- sales are UP 49% this year v. 2015 – 67 v. 100 sold this year.

- in 2015 11 homes sold in 10 days or less v. 32 this year

- in 2015 the total dollar value of homes sold was;
$30,103,144 v. $49,469,659  this year, a 64% increase.

Median sold prices are also up a wee bit;
they’re up nearly 5% since last year
and up 7% since 2015.

When 1/3 of the homes selling are selling in 10 days or less, it’s a sure sign the market is heating up.

Also, of the 102 homes currently in contract, 37 went to contract in 10 days or less.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract the last 2 weeks, 10/2 – 10/15/2017

From Monday October 2nd thru Sunday October 15th  33 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 11/18/17)

MDOM is Median Days On Market

23 were priced from $219,900 to $585,000 – in 10 MDOM
7 from $600,000 to $899,950 – in 197 MDOM
3 from $1,150,000 to $1,295,000 – in 20 MDOM

197 MDOM, WOW, that's a lot of days on market. But instead of seeing it as a home taking forever to sell, how about seeing it this way;
the market is so Hot that homes that were passed over before are getting a second glance now. 
It happens, and I think that is what is happening now. Low supply/high demand and buyers are forced to compromise more than they would like to  -  and the homes that have been sitting around for months start to look more appealing. 

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

Spec homes are making a comeback

Many spec builders got hammered badly when the market tanked in 2008. And in the years that followed a slew spec homes sold for a fraction of their original asking prices and often fell to short sale or foreclosure. By the time the smoke began to clear around 2011 – 2012 spec home building was at a standstill and for the most part remained at a standstill, or at best a crawl, until 2 or 3 years ago.

But now, with the market on the upswing, builders are once again swinging their hammers in earnest. So far this year 14 new spec homes have been completed or are under construction. 

Of the 14, 3 have sold at $345,000, $915,000 and $1,995,000, 3 are in contract at $479,900, $985,000 and $1,249,000, and 8 remain for sale at $799,000, $1,995,000, $589,900, $895,000, $795,000, $1,895,000 and two at $1,595,000. See the 2017 Spec Homes here  (link expires 11/12/17)

And there are 3 specs for sale that are leftover from last year priced at $800,000 $1,095,000 & $1,795,000. In 2016 4 spec homes sold at $721,701, $1,600,000, $1,610,000 & $2,197,500.

This is more specs than we’ve seen in years, though not quite the tsunami of spec homes that appeared and sold in 2006 when 35 sold.
7 sold from $565,186 to $995,000 and the remaining 28 sold from $1,052,000 to $3,100,000 – median sold price $1,375,000.
See the 35 Spec Homes Sold in 2006  (link expires 11/12/17)

Many buyers prefer new homes and there is, and has been for years, a shortage of new homes in the Catalina Foothills. And with hardly any bargains to be found amongst the many older homes that are in need of large scale and expensive renovations I think the new specs have a better than even chance of finding buyers.

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 9/25 –10/1/2017

From Monday September 25th thru Sunday October 1st 22 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 11/7/17)

MDOM is Median Days On Market

17 were priced from $284,450 to $595,000 – in 17 MDOM
3 from $699,000 to $869,000 – in 11 MDOM
1 each at $1,250,000 & $1,900,000 – in 30 MDOM

Buyers didn't dilly-dally last week.

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

The First 9 Months; Catalina Foothills Single Family Home Sales & Sold Prices

The following charts track single family home sales & sold prices in the Catalina Foothills for January – September of each year from 2004 to 2017.

First up, the number of homes sold up to $999,999 – the brightest spot in the Catalina Foothills market. And thank goodness, it's also the bulk of the market. 

Thru September home sales up to $999k are UP nearly 12% over the same period in 2016 – and are ahead of every year since 2005.
And they sold quicker this year, 36% quicker than last year – in 41 median days on market v. 64 last year. And get this, they even sold quicker this year than in 2004 – 2005, when the market was going thru the roof, 89 & 62 days on market then v. 41 this year.

Next up, the number of homes sold at $1,000,000 or more

In September sales at $1million+ picked up and regained the lead, though by just a nose, over 2016 sales for the same period. And I’ll say it again, while sales this year are ahead of every year since 2008, the lead is awfully slim (and, I think,fragile). The $1million+ market today is still down 60% from where it was in 2006. Interesting tidbit though, 39 homes sold thru September his year in 112 median days on market – 99 homes sold during the same period in 2006 in 175 days on market. Hmm!

And finally, those stubborn median sold prices for Catalina Foothills homes.

Thru September median sold prices for the overall Catalina Foothills market are up 7% over 2016. Hip-hip…And, since hitting bottom in 2012, they’re up 15.4% – after 5 long years of a snails pace recovery.

But please keep in mind that sales and sold prices do not perform uniformly throughout the Catalina Foothills. Some areas, some homes, some price ranges perform better or worse than others. The median numbers are only indicative of the overall Foothills market.

For an example of how different subdivisions have performed this year see; Catalina Foothills, median sold prices by subdivision

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

in contract last week, 9/18 – 9/24/17

From Monday September 18th thru Sunday September 24th 24 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/29/17)

Many homes are selling very quickly, and the pace appears to be accelerating, and I think it would be useful to show median days on market figures for each price range. So here we go.
median days on market – MDOM
days on market – DOM (when there’s just one home in contract)

 17 were priced from $183,000 to $539,000 – 18 MDOM
  6 from $699,000 to $999,900 – 184 MDOM
  1 at $1,249,000 – 112 DOM

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

Catalina Foothills, median sold prices by subdivision

So far this year the median sold price for single family homes sold across the foothills is $447,000 - on 655 sales that sold in a rather quick 45 median days on market.

That’s a 6% rise in median sold prices over the same period in 2016, with 9.5% more homes sold this year, that sold in 31% fewer days on market than last year. All in all a very nice improvement.

But sold prices across the foothills do not march in lockstep, they vary by subdivision, by home price and, most importantly, by market demand at that time.

Here’s a look at how median sold prices, etc. have performed this year v. last year in a selection of popular individual subdivisions across the Catalina Foothills. Sales data is for homes  sold 1/1 – 9/24 each year. Click any subdivision name to see all the homes currently for sale. 

Shadow Hills
2016 – 22 sold, median sold (MS) $501,000 in 25 days
2017 – 24 sold, median sold (MS) $538,500 in 66 days
Median sold UP 7.5%

Foothills Clusters
2016 – 9 sold, MS $325,000 in 8 days
2017 – 11 sold, MS $315,000 in 10 days
MS DOWN -3%

Sin Vacas
2016 – 8 sold, MS $724,160, in 276 days
2017 – 7 sold, MS $685,000, in 84 days
MS DOWN -5.4%

Catalina Foothills Estates
2016 – 44 sold, MS $525,000 in 57 days
2017 – 51 sold, MS $550,000 in 70 days
MS UP 4.8%

Pima Canyon
2016 – 5 sold, MS $1,500,000 in 98 days
2017 – 7 sold, MS $1,225,000 in 139 days
MS DOWN  -18%

Catalina Foothills Estates 10
2016 – 5 sold, MS $990,000 in 62 days
2017 – 7 sold, MS $1,090,600 in 63 days
MS UP 10%

La Paloma
2016 – 29 sold, MS $610,000 in 78 days
2017 – 35 sold, MS $430,000 in 92 days
MS DOWN a whopping -29%

Skyline CC
2016 – 13 sold, MS $789,000 in 158 days
2017 – 16 sold, MS $567,500 in 42 days
MS DOWN ditto –28%

Skyline Bel Air
2016 – 14 sold, MS $433,750 in 36 days
2017 – 27 sold, MS $419,000 in 50 days
MS DOWN –3.4%

Flecha Caida
2016 – 19 sold, MS $375,000 in 134 days
2017 – 21 sold, MS $424,000 in 43 days
MS UP 13%

Cimarron
2016 – 13 sold, MS $549,000 in 90 days
2017 – 18 sold, MS $604,000 in 83 days
MS UP 10%

Finisterra
2016 – 7 sold, MS $907,000 in 45 days
2017 – 7 sold, MS $592,288 in 106 days
MS DOWN –10%

Fairfield
2016 – 18 sold, MS $442,500 in 65 days
2017 – 13 sold, MS $440,000 in 53 days
MS DOWN a teeny bit (-0.56%)

Villages of Ventana
2016 - 8 sold, MS $323,517 in 47 days
2017 – 7 sold, MS $355,000 in 31 days
MS UP 9.7%

Ventana CC
2016 – 20 sold, MS $639,575 in 86 days
2017 – 19 sold,MS $625,000 in 37 days
MS DOWN –2.3%

Sabino Mountain
2016 – 11 sold, MS $369,000 in 94 days
2017 – 7 sold, MS $363,500 in 47 days
MS DOWN –1.5%

Looking at the number of home sold, sold prices and days on market in individual subdivisions is not so neat and tidy as they are for the overall foothills market. Due to the wide variety of homes within many individual subdivisions, the fluctuation in median sold prices from one year to the next, UP or DOWN, are, I believe, more a reflection of higher or lower priced homes sold during that period than they are of a rise or fall in home prices or values within those communities. There are however some exceptions; in the few subdivisions that tend to be more cookie cutter, median sold prices are, to a greater degree, more likely to reflect a rise or fall in home values. 

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

 

in contract last week, 9/11 – 9/17/2017

From Monday September 11th thru Sunday September 17th 18 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/21/17)

12 were priced from $224,500 to $499,899
4 from $620,0000 to $899,900
2 at $1,070,000 & $1,780,000

A bit of an uptick in contracts v. the previous 2 weeks. The $1,780,000 deal is in Skyline CC – the biggest Skyline deal this year!

The numbers for the previous week are HERE

see TheFoothillsToday.com
to find your very own Catalina Foothills Home

 

in contract last week, 9/4 – 9/10/2017

From Monday September 4th thru Sunday September 10th a measly  13 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/13/17)

8 were priced from $239,000 to $599,000
4 from $600,000 to $900,000
1 at $1,100,000

Another very quiet week for Catalina Foothills real estate. And interesting, it's the lower end of the market that's been going great guns that has dropped the most. Not sure why, last September was much busier. But it looks like it’s picking up, since Monday 9/11, 11 homes have already gone to contract, including one biggie at $1,780,000.

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

in contract last week, 8/28 - 9/3/2017

From Monday August 28th thru Sunday September 3rd just 10 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 10/7/17)

6 were priced from $225,000 to $497,500
2 at $624,000 & $695,000
2 at $1,150,000 & $1,250,000
The $1,250,000 contract is on a home in Skyline CC reputed to have been owned by both Dean Martin & Alice Cooper, which I mentioned when it was for sale in 2012.

10 contracts is the fewest weekly contracts I ever remember seeing. But still, I doubt it’s anything more than ‘just one of those (extremely) slow weeks’. Who knows, we’ll see.

The much better numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

The First 8 Months; Catalina Foothills Single Family Home Sales & Sold Prices

The following charts track single family home sales & sold prices in the Catalina Foothills for January – August of each year from 2004 to 2017.

First up, the number of homes sold up to $999,999

Thru August home sales up to $999k are UP nearly 11% over the same period in 2016 – and are ahead of every year since 2005.
They also sold quicker this year, 31% quicker than last year – 43 median days on market v. 63 last year.

Next up, the number of homes sold at $1,000,000 or more

Well, in August, sales at $1million+ lost ground again. Thru June big $$$$ sales were UP 24% over 2016, then, thru July, that number dropped to an 18% lead. Now, thru August, sales at $1million+ are actually down a teeny bit, -2.7%, (- 1 sale) v. 2016. And while sales this year are still ahead of every year since 2008, they’re lead is pretty slim (and fragile) and nothing to brag about. 

And those stubborn median sold prices for Catalina Foothills homes

While sold prices are still Up over 2016 they're now up less than they were. Thru this July sold prices were UP 9% over 2016, and now they’re UP by 7%. And still miles away from where they were in 05 – 08.

But look at the bright side. While it’s true that we’re dealing with snail’s pace price appreciation (up just 16% since hitting bottom in 2012) much of the rest of the country is fretting that prices are too high and are entering bubble territory, places where prices have long ago met or exceeded their 05 – 07 peak and are now in danger of bursting (again).

The July report is HERE

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so much for a slow August

for August, 81 homes to contract is anything but slow,

But that’s what happened this August, and we’re sure to see a few more August contracts trickle in over the next few days.

And even more surprising, 6 of them are priced from $1,099,000 to $2,000,000,and nipping at their heels there are 4 more priced from $850,000 to $995,000.

August contracts, see them HERE

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to find your very own Catalina Foothills Home

 

 

in contract last week, 8/21– 8/27/17

From Monday August 21st thru Sunday August 27th, 22 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 9/29/17)

15 were priced from $279,900 to $585,000
6 were priced from $649,000 to $889,000
1 mega deal at $1,100,000

An impressive # of contracts for a hot week in late August – a time not known for robust real estate activity. And the pickins are slim too – just 291 single family homes for sale in the Catalina Foothills.

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

11 Years later and we’re still not there

Median sold prices in the overall foothills market peaked in 2006 at $570,000, and bottomed out in 2012 at $390,000. And now, thru July of this year, they are at $450,000. That’s a drop of 31% from 2006 to 2012 and a 15% rise from 2012 to today - for the overall foothills market.

But the foothills market is wide and varied and prices in individual subdivisions have performed differently, often wildly differently, from the overall market. See for yourself, check out the numbers for individual subdivisions below.

The median sold prices shown are for January – July of each year.
The % reflects the drop in median sold prices from 2006 to 2012 and the change, up or down, from 2012 to 2017. (click any subdivision name to see all the homes currently for sale – continuously updated)

Shadow Hills
2006 – $646,500
2012 – $420,000 (-35%)
2017 – $560,000 (+33%)

Catalina Foothills Estates 1 –9
2006 - $665,000
2012 - $529,250 (-20%)
2017 - $550,000 (+4%)

Catalina Foothills Estates 10
2006 - $1,092,500
2012 - $843,500 (-23%)
2017 - $1,090,600 (+29%) ding-ding-ding, Cat 10 is back to 06 prices.

Sin Vacas
2006 - $895,000
2012 - $675,000 (- 24%)
2017 - $645,000 (– 4%)

Pima Canyon
2006 -  $2,050,000
2012 - $1,075,000 (- 47%)
2017 - $1,237,500 (+15%)

Cobblestone
2006 – 0 sales
2012 - $1,004,965 (1 sale)
2017 - $967,500 (-3.7%) (well, at least there were 4 sales this year)

La Paloma
2006 - $625,000
2012 - $400,000 (- 36%)
2017 - $430,000 (+4.5%)
Worth noting; during the same Jan – July period in 2016 La Paloma median sold prices were $610,000 (+52% over 2012)

Hacienda del Sol Est
2006 - $1,550,000 
2012 - $800,000 (- 48%)
2017 – No Sales

Pinnacle Ridge
2006 - $1,005,000 
2012 - $651,000 (- 35%)
2017 - $775,000 (+19%)

Skyline CC Estates
2006 - $1,082,500
2012 - $641,000 (- 41%)
2017 – $595,000 (-7%)
The big difference in Skyline (and other communities with mega mansions) between 2006 and now is that back in 06 the really big $$$$ mega mansions were selling and now, for the most part, they’re not.

Skyline Bel Air
2006 - $597,250
2012 - $350,000 (- 41%)
2017 - $422,000 (+21%)

Cimarron
2006 - $745,000
2012 - $478,000 (-36%)
2017 – $613,000 (+28%)

Fairfield/Sunrise
2006 - $543,750
2012 - $335,000 (- 38%)
2017 - $440,000 (+31%)
During the same period in 2016 median sold prices were also $440,000.

Ventana CC
2006 - $1,036,250
2012 - $425,000 (- 59%)
2017 - $650,000 (+53%)

Sabino Mountain
2006 - $914,250
2012 - $268,400 (-70%)
2017 - $594,000 (+121%)

Every subdivision took a hit – some much bigger than others – and, incredibly, none (except Cat 10) are back to where they were, or even close to where they were, 11 years ago.

I posted this same report last August, click HERE to compare last years numbers with this years.
**last years figures for 2006  & 2012 for the overall foothills market are slightly different than this years due to the change in boundaries for the Foothills area. The individual subdivision numbers, however, remain unaffected. 

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to find your very own Catalina Foothills Home

in contract last week, 8/14 – 8/20/17

From Monday August 14th thru Sunday August 20th, 20 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 9/21/17)

13 were priced from $279,900 to $549,000
4 from $659,000 to $850,000
3 from $1,099,000 to $2,000,000

Who said August is slow.

$2million for a spec home in Alta Vista is big news – since 2004 just 3 comparably big $$$$ sales in there at $1,675,000, $1,850,000 & $2,185,000. And along with this one none of them sold during the 2005 – 2006 feeding frenzy at the high-end of the market. They sold in October 2008, October 2009, and June 2011. Odd, but true.

The less impressive numbers for the previous week are HERE

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in contract the last 2 weeks, 7/31– 8/13/2017

From Monday July 31st thru Sunday August 13th, 33 single family homes went to contract in the Catalina Foothills of Tucson AZ. (link expires 9/14/17)

29 were priced from $224,000 to $595,000 (the still HOT segment of the market)
4 from $635,000 to $995,000
and that’s it! (nothing with $7 figures & 68 still for sale and only about half that (35) sold since Jan 1- Brrr!)

The numbers for the previous week are HERE

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to find your very own Catalina Foothills Home

Due to the recent decision by the MLS to expand the boundaries of the North area (formerly the Catalina Foothills) - all the way west to the I-10, and therefore way beyond the boundaries of the Catalina Foothills – starting today all Catalina Foothills home searches, sales reports and other market data will include only homes in 85718 & 85750 – which, anyway, has always been the heart and soul of the Catalina Foothills. And will not include the small sliver of 85704 that was previously included in the North area. For more information and to see a map of the old and new North area click HERE

Looking for a home with a built-in Lazy Susan?

Well, you’re in luck.The current upgrade to the MLSSAZ (Multiple Listing Service of Southern Arizona) includes revised listing information fields and the addition of a slew of new listing information fields, like whether a home has a built-in Lazy Susan. And that’s not all. If a home does have a Lazy Susan the listing will now indicate where said Lazy Susan is located -
Lazy Susan – in the Pantry – the Butler pantry – in a Cabinet – a Closet – or a Walk-In. Pretty handy, eh.

Other examples of the additional listing information fields include;

*INTERIOR FEATURES (Select 1-20)
Bay Window - Ceiling Fan(s) - Cathedral Ceilings - Central Vacuum – Columns - Dual Pane Windows - Entertainment Center Built-In - Exposed Beams - Fire Sprinklers – Furnished – Foyer - Garden Window - Interior Steps, Yes No – Paneling - Plant Shelves – Skylights - Smoke Detector - Split Plan - Split Bedroom Plan – Storage - Storm Windows - Vaulted Ceilings - Walk In Closets - Wall Paper - Water Softener - Wet Bar - Wine Cellar – Workshop.

So, if you’re looking for a home with Plant Shelves, and who isn't, they will be noted in the listing. Wall paper, nice touch. Ever see a home with NO Storage. Me neither. 

They’ve also added a new Technology section which I think is much needed.
TECHNOLOGY (Select 1-8) Alarm System - Cable TV - Ceiling Speakers - High Speed Internet - Home Automation – Intercom - Pre-Wired Sat Dish - Pre-Wired Srnd Snd - Pre-Wired Tele Lines - Satellite Dish - Smart Panel - Surround Sound – Telephone.
Until now the only designation for internet or TV was; Cable Available Yes or No. And if a home had or could get a satellite dish (and name one that can’t) but was not serviced by an actual Cable Provider (think Comcast in the foothills) for TV & High Speed Internet, more often than not the box next to Cable Available was checked Yes.

Those are just a tiny sample of the changes, there are many more information fields being revised and added to listings. And right now the listing agents for the 3,366 homes listed in the greater Tucson metro are working furiously to update their listings with all the new information fields.

Also, until now a full bath was bath that had all four fixtures;
shower, tub, sink and toilet.
Not anymore, the full bath has been downsized, it is now;  A bathroom with at least three of the four components of a bathroom (Bathtub, Shower, Sink, and Toilet).
Until now there was category for a 3/4 bath; a bath with three of the four usual fixtures; a sink and toilet and either a shower or a tub. But the 3/4 bath has now been phased out.

There are many more fields being revised and added to the listing information and I’m sure that most of them will be very helpful. But because the MLSSAZ now includes the Green Valley/Sahuarita, Santa Cruz County,Southeast Arizona Association and the Tucson Association of REALTORS® MLS and the wide variety of housing that it now encompasses, some of the new and revised fields will be more applicable to, say, Green Valley or Santa Cruz than they are to the Tucson area and vice versa.

Happy Searching!

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to find your very own Catalina Foothills Home

This week

the Multiple Listing Service of Southern Arizona (MLSSAZ) begins to implement the changes to the MLS system that I referred to last week.

In that same post I reviewed the changes to North area boundaries and today would like to cover the changes to the status of listings. 

From the MLSSAZ;

Statuses & Status Definitions

Statuses will be updated to better reflect the traditional listing life cycle.  The first update will be the removal of the Active CAPA status.  CAPA was initially put in place to indicate a kick-out clause specified in the purchase contract.  With the changes in the market after 2008, the usefulness of the CAPA status diminished and became confusing to agents. 
Several new Contingent statuses will be added to increase the information regarding the specific contingency and the availability of a property.

• Active – Active properties with no offers or contingencies.
  • Online Offers Only - Used for any property where offers are submitted online, such as online auctions.
• Active Contingent – An offer has been accepted but the seller is still permitting showing appointments and is accepting backup offers.
  • Pending Short Sale Approval – seller has accepted an offer and is awaiting short sale approval from the lender.
  • Signature Pending – Seller has verbally accepted an offer and is pending a signature(s).
  • Cancellation Provision – There is a provision to cancel the current offer with a replacement offer.
• Pending – An offer has been accepted and the seller is not allowing showing appointments or backup offers. 
• Temp Off Market – The seller has requested that the property be temporarily taken off market.  Listing may be brought back on market without a new listing agreement.   
• Expired – Listing agreement has expired. 
• Canceled – Listing agreement has been canceled. 
• Closed – Property has been sold.

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Big change is the addition of new contingent statuses. Particularly that the MLSSAZ is now going to officially recognize and kind of ‘bless’ the use of verbal offers. While verbal offers have always been around and used occasionally, they’ve never been officially recognized as being worth anything. It’s likely that the new Signature Pending status will tend to make verbal offers more acceptable and at least somewhat credible and they’ll probably be used more often than they were in the past.

Verbal offers are particularly handy (like now) when homes are selling quickly and you want to get an offer in before anyone else and you can’t afford the delay of getting everything written up, signed and delivered. Conversely, they’re also handy when a buyer wants to make an offer that has a low probability of being accepted, e.g., an offer that is way below list price (a so-called low-ball), and doesn't  want to go thru the rigmarole of writing everything up only to have it instantly rejected.     

**Donna Anderson, an agent at Long Realty, made a point in the comments section that I should have included. That is that -  regardless of the fact that verbal offers will now be recognized by the MLSSAZ - Verbal offers are not enforceable; all contracts to be enforced still must be in writing. Absolutely true. So if you enter a verbal agreement it is necessary for the buyer and seller to reduce it to writing asap in order for it to be enforceable.

Interesting times in Tucson real estate.

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