The following chart is a snapshot of the current single family home market in the Catalina Foothills of Tucson, AZ.
Included is the number of homes currently for sale, in contract, and sold in the last 30 days - broken down into five price ranges - with the resulting months of inventory (MOI) for each group. (6 MOI is considered a normal, balanced market. Much less than that and it becomes a sellers market - with much more it becomes a buyers market). MOI is a basic measure of current supply and demand.
It’s a starting point to help you gauge the level of activity in the price range that interests you. I hope it helps and I look forward to your questions, comments and suggestions.
I (usually) update it weekly. (updated 11/29/2018)
| List Price | # For Sale | # in Contract |
# Sold | MOI |
|---|---|---|---|---|
| $0 - $599,999 | 132 | 35 |
44 |
3 |
| $600 - $999,999 | 109 | 21 | 14 | 8 |
| $1.0 - $1,499,999 | 32 |
5 | 3 | 10 |
| $1.5 - $1,999,999 | 14 |
3 |
0 |
? |
| $2.0 & UP | 16 |
0 | 0 | ? |
| Totals | 303 | 64 | 61 |
5 |
______________________________________________________
And now the big picture, a comparison of the number of homes sold from January thru October of each year from 2004 to 2017.
First up are the number of homes that sold up to $999,999;
And the same chart, but this time for the number of homes that sold for $1,000,000 and UP
And finally, Median sold prices for January thru October of each year since 2004
As you can see in the first chart, home sales this year up to $999,999 are down a tad from last year (-8%) yet are still doing quite well.
Meanwhile the $1million+ market continues to gain ground after losing its shirt in 2008, 2009 and struggling from 09 to 2015, it now appears to be on increasingly solid ground.
The agonizingly slow rise in sold prices that began in 2013 has perked up this year (Up 10% over last year) - and while it still has a ways to go before getting back to where prices were in 2005 - 2008 - sold prices are now finally within sight of their boom time peaks.
The bottom line is the Catalina Foothills real estate market is stronger this year than it has been in years. And the market this year has a spunk to it (as evidenced by quicker sales) that we haven't seen since the boom years.
(the Sold charts are updated monthly)
Thanks for stopping by,
John Schneider, Realtor®
Catalina Foothills Homes
(520) 271-4164
johnschneiders@gmail.com
Tierra Antigua Realty, Foothills Office
1650 E. River Rd
Tucson, AZ 85718
see thefoothillsToday.com
to find your very own Catalina Foothills home
