The table provides a detailed overview of current supply/demand in the single-family home market of the Catalina Foothills (zips 85718 / 85750). Categorized by price range, it shows the number of homes for sale, under contract, and sold in the past month, along with the resulting Months of Inventory (MOI).
MOI is a valuable metric for assessing market balance. MOI of around 5-6 months is considered to be a balanced market, while a lower MOI suggests a seller's market and a higher MOI points to a buyer's market. The data presented here is based on single family homes listed with the Multiple Listing Service of Southern Arizona (MLSSAZ).
The Market Snapshot is a starting point to help you gauge current Foothills market conditions and how they may align with your goals in your price range. Please feel free to contact me with any questions or to discuss your specific needs.
I usually update the Market Snapshot every 10 days or so, (updated August 30, 2024)
|
List Price |
For Sale |
in Contract |
Sold | MOI |
|---|---|---|---|---|
| $0 - $399,999 | 0 | 1 | 1 | ? |
| $400k - $599,999 |
16 | 7 |
5 |
3 |
| $600k - $799,999 | 37 | 19 | 10 | -4 |
| $800k - $999,999 | 30 | 7 | 6 | 5 |
| $1.0 -$1,249,999 | 6 |
5 | 0 | ? |
| $1.250-$1,499,999 | 9 | 2 | 3 | 3 |
| $1.5 - $1,999,999 | 23 |
4 |
4 |
6 |
| $2.0 & UP | 20 |
4 | 3 | 7 |
| Total Market | 141 | 49 | 32 |
-5 |
Low inventory continues to fuel a seller's market that is now somewhat weaker than it was a few months ago and, from the looks of it, may continue to lose steam. Though, also possible, it may just be a typical seasonal summer slow-down. This is summer and it's August, the slowest month at the slowest time of year for Foothills home sales. ?? My hunch, it's a bit more than just a summer slowdown.
CLICK HERE to Quickly Search all the Single Family Homes For Sale in your price range in the Catalina Foothills of Tucson, AZ.
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Plus, in 4 simple charts spanning the years 2018 - 2023
the # of homes sold each year, median sold prices (MSP) and Median Days on market (MDOM)
First up is the number of homes sold for up to $999,999
Foothills home sales up to $999k declined from 92% market share in 2018 to 70% in 2023, due to strong demand and limited supply driving the price of many homes up into the $1m+ price range.
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Meanwhile, sales of homes priced at $1m+ grew from 7.5% of the market in 2018 to 30% in 2023.
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2023 Median Sold Prices were the highest yearly median sold prices ever.
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MDOM, my favorite simple measure of the enthusiasm and exuberance, or lack thereof, of the market, 2023's 12 MDOM is showing us there is plenty of both.
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That's it for now, please contact me if you have a question or would like my help navigating the Catalina Foothills market.
Thanks for stopping by
John Schneider, Realtor®
Tierra Antigua Realty, Foothills Office
1650 E. River Rd
Tucson, AZ 85718
Catalina Foothills Homes
(520) 271-4164
[email protected]
see my website thefoothillsToday.com
to find your very own Catalina Foothills home
