The following chart is a snapshot of current activity in the Catalina Foothills single family home market in Tucson, AZ - zip codes 85718 & 85750.
Included is the number of homes currently listed for sale, in contract and the number of homes sold in the last 30 days - broken down into 8 price ranges - with the resulting months of inventory (MOI) for each group -- +/- 6 MOI is considered a normal, balanced market. With a much lower MOI the market veers into a sellers market - whereas, with much higher MOI it slips into a buyers market. MOI is a basic measure of current supply and demand. The numbers shown are based on homes listed with the Multiple Listing Service of Southern Arizona - MLSSAZ.
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 the Market Snapshot every 10 days or so, (updated June 2, 2023)
|
List Price |
For Sale |
in Contract |
Sold | MOI |
|---|---|---|---|---|
| $0 - $399,999 | 0 | 1 | 1 | ? |
| $400k - $599,999 | 9 | 18 |
24 |
-1 |
| $600k - $799,999 | 15 | 22 | 17 | -1 |
| $800k - $999,999 | 21 | 13 | 18 | 1+ |
| $1.0 -$1,249,999 | 8 |
10 | 4 | 2 |
| $1.250-$1,499,999 | 12 | 10 | 8 | 1+ |
| $1.5 - $1,999,999 | 9 |
6 |
5 |
-2 |
| $2.0 & UP | 18 |
5 | 7 | 2+ |
| Total Market | 98 | 92 | 75 |
1+ |
CLICK HERE to Quickly Search and see all the Single Family Homes For Sale in your price range in the Catalina Foothills of Tucson, AZ.
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Plus a recap of 2021 - 2022, quarterly sales, sold prices and DOM for Catalina Foothills Single Family Homes for Q1 2021 - Q4 2022
First up, the number of homes sold for up to $999,999, the lion's share (77+%) of the Catalina Foothills Single Family Home Market.
With demand for homes surging in 2021 sales nevertheless dropped from 844 in 2020 to 779 in 2021 and dropped again to 517 in 2022 due initially, to the extremely low supply of homes for sale, followed and compounded by the sharp rise in mortgage interest rates in the 2nd half of 22.
Both of which continue to constrain the market to this day - 1/25/2023
Next up, quarterly sold numbers for the market at $1million & UP. After dropping from its 2006 high and bouncing along the bottom until the 2nd half of 2020, when it began to take off with cash buyers arriving here to escape Covid in more congested parts of the country. And then, in 2021, it continued to heat up and blew the doors off all prior sales records. (2006 -126 sold at $1M+ // 2021 -183 sold // 2022 - 193 sold) And, like the market at under $1M, it is apparent that this market would be selling even more homes if there were more homes to sell.
Median Sold prices went thru the roof until Q3 of 2022 when they started losing air
Likewise, homes at all prices sold faster in 2021 and the 1st half of 2022 than ever before, but have slowed since then
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That's it, a snapshot of the current Catalina Foothills Single Family Home market plus, for perspective, a longer term view.
Contact me if you have a question or would like my help navigating the 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 thefoothillsToday.com
to find your very own Catalina Foothills home
