The Catalina Foothills

A Gorgeous New Listing in the Catalina Foothills

I recently listed 6941 N Finger Rock Pl, a gorgeous & inviting home with panoramic views located on a quiet, private lot in gated Foothills ll, convenient to the best of everything the Catalina Foothills has to offer, listed at $2,750,000

The photos speak for themselves - and say it much better than I can - so, if you like what you see in the photos, you will LOVE what you see in person

If you are not working with a Realtor®/real estate agent and would like some help navigating the foothills market, or with just this home, give me a call, let's talk and see how I may be able to help you. 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract last week, 4/11 - 4/17/2022

From Monday April 11 thru Sunday April 17 - 16 single family homes went to contract in the Catalina Foothills of Tucson, AZ (85718/85750) (link expires 5/24/2022)

2 were listed at $375,000 & $575,000
11 from $600,000 to $975,000
 3 from $1,050,000 to $3,495,000

and they went quickly, in 5 MDOM

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

in contract last week, 4/4 - 4/10/2022

From Monday April 4 thru Sunday April 10 - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (85718 / 85750) (link expires 5/14/2022)

 6 were priced from $329,900 to $550,000
10 from $625,000 to $925,000
 6 from $1,100,000 to $1,849,000

they went in 5 MDOM

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

in contract last week, 3/28 - 4/3/2022

From Monday March 28 thru Sunday April 3 - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 & 85750)      (link expires 5/11/2022)

4 were priced from $412,000 to $550,000
5 from $725,000 to $950,000
4 from $1,099,500 to $1,325,000

slowdown, what slowdown, they flew off the shelf in 3 MDOM
(median days on market)

 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

1st Qtr. Homes Sales in the Catalina Foothills

here's a look at how the Catalina Foothills single family home market has performed during the 1st Qtr. of each year from 2018 thru 2022. (DOM = days on market / MSP = median sold price)

Year	# Homes Sold	# Sold Cash	% Cash Sales	MSP	+/- % MSP v prior year	DOM	# of Homes For Sale
2022	206	82	40%	$755,000	+16%	6	+/- 62
2021	243	89	37%	$650,000	+20%	4	+/- 81
2020	216	58	27%	$543,500	+14%	29	+/- 226
2019	184	60	33%	$475,000	+2%	55	+/- 320
2018	192	56	29%	$465,000	+3%	36	+/-  322

So, big jumps in prices starting in 2020 along with declining DOM and declining # of homes for sale. All of which continue  to this day.                                                                                                                         

PS, we finished 2021 with the MSP at - $695,000 for the year- and now for the 1st Qtr. of 2022 it's up to $755,00. 
Where will it go from here?

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

recent list & sold prices - March 19 - March 31

The following are the list and sold prices of the 45 single family homes that sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) from March 19 to  March 31, 2022 thru the Tucson Association of Realtors® MLSSAZ (Multiple Listing Service of Southern Arizona).

 

Listed	Sold
429,900	376,555
385,000	380,000
410,000	395,000
400,000	403,101
415,000	409,000
425,000	412,000
475,000	475,000
479,000	477,000
579,000	575,000
515,000	615,000
625,000	625,000
725,000	638,500
615,000	651,000
650,000	680,000
685,000	685,000
695,000	695,000
695,000	696,000
549,000	705,000
689,900	709,500
625,000	710,000
715,000	715,000
765,000	760,000
775,000	769,000
785,000	785,000
819,900	791,000
795,000	825,000
846,631	846,631
765,000	850,000
915,000	895,000
950,000	900,000
925,000	925,000
820,000	950,000
995,000	1,010,000
1,150,000	1,050,000
998,000	1,097,600
929,900	1,100,000
1,300,000	1,130,000
1,350,000	1,285,000
1,200,000	1,310,000
1,300,000	1,315,000
1,450,000	1,500,000
1,495,000	1,670,000
1,395,000	1,675,000
1,999,000	1,983,000
2,750,000	2,600,000

45 homes sold

19 sold for more than list price     - 42%

 8 sold at list price  - 18%

18 sold for less than list price   - 40%

22 were cash sales   -  49%

The MSP of the 45 homes sold is $769,000 & they sold in 9 median DOM - a decrease in MSP and an increase in DOM from the previous Listed & Sold report .

However, because the time period for each report is so short, 2 weeks or less, I would hold off until we have 2 - 3 months of data before drawing conclusions about where the market is headed.  And I believe the longer DOM numbers are at least partially due to more sellers delaying the response time to offers they receive, e.g.: (.... seller will review and respond to offers after 3pm on Sunday April 10), in order to give more buyers the opportunity to see the house and to make an offer, thereby setting up a silent auction. 

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

 

in contract last week, 3/21 - 3/27/2022

From Monday March 21 thru Sunday March 27 - 24 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 & 85750)    (link expires 4/29/2022)

 6 were priced from $340,000 to $515,000
15 from $619,000 to $950,000
 3 from $1,000,000 to $1,450,000

and they're still going fast - this group went in 4 *MDOM

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 
*median days on market

in contract the last 2 weeks, 3/7 - 3/20/2022

From Monday March 7 thru Sunday March 20 - 39 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 & 85750)    (link expires 4/23/2022)

11 were priced from $359,900 to $575,000
15 from $650,000 to $950,000
13 from $1,000,000 to $3,750,000

and they went quickly, buyers put those 39 homes in contract in just 7 MDOM

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

recent list & sold prices

The following are the list and sold prices of the 29 single family homes that sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) from March 7th to  March 18th, 2022 thru the Tucson Association of Realtors® MLSSAZ (Multiple Listing Service of Southern Arizona).

 

List Price	Sold Price
475,000	450,000
505,000	485,000
547,950	620,000
571,499	592,500
599,000	620,000
635,000	627,500
649,900	727,000
675,000	713,000
700,000	730,000
700,000	725,000
719,000	720,870
725,000	750,000
749,000	765,000
850,000	907,000
850,000	950,000
855,000	855,000
875,000	1,025,000
925,000	1,151,000
975,000	975,000
1,029,000	1,029,000
1,145,000	1,150,000
1,285,000	1,250,000
1,300,000	1,352,000
1,300,000	1,300,000
1,395,000	1,361,366
1,895,000	1,895,000
1,999,999	2,400,000
2,095,000	1,925,000
2,650,000	2,600,000

 

The MSP of the 29 sold is $907,000 & they sold in 5 median DOM 

29 homes sold

these 17 sold for over list price

these 5 sold for list price

these 7 sold for under list price

That's it, the current market in the Catalina Foothills, 
 
John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

where home prices are headed

Two articles from Fortune

Where home prices are headed through 2023, as forecast by Bank of America

BY LANCE LAMBERT

March 16, 2022 2:43 AM MST

Federal Reserve Chair Jerome Powell told Congress earlier this month he favors upping rates in order to help rein in runaway inflation. In preparation of the first hike, which is expected today, financial markets are already pricing in higher mortgage rates. As of Friday, the average 30-year fixed mortgage rate sits at 3.85%—up from 3.11% in December.

Spiking mortgage rates should help to cool the red-hot housing market, right? Not so fast, predicts a report due out this week by Bank of America.

While higher mortgage rates would price out some buyers, Bank of America says it won't be enough to stop the housing market from posting strong home price growth this year. Indeed, Bank of America predicts that U.S. home prices will finish 2022 up 10%. That's nearly double the average annual home price growth (4.6%) posted since 1989. However, it would be a bit of a deceleration: Between December 2020 and December 2021, the Case-Shiller U.S. National Home Price Index—the leading measurement of U.S. home prices—jumped 18.8%.

Why the bullish 2022 outlook? While climbing mortgage rates could pour some cold water on the housing market over the long term, Bank of America says it could increase buyers’ urgency—as they rush to lock in rates—in the short term. Rising household incomes, favorable demographics, and "shifting preferences due to remote work" should also put upward pressure on price growth, writes Bank of America. That demand is something the supply side of the market—which is still hovering around four-decade lows for housing inventory—simply can't handle.

Continue Reading

                  -----------------------------------------------------------------

also from Fortune

Falling home prices? It’s only likely in these 13 housing markets, says CoreLogic

BY 

LANCE LAMBERT

March 17, 2022 3:18 AM MST

The housing market isn't just running hot—it's running red-hot. The inventory crisis, which has seen homebuyers outnumber sellers by a wide margin during the pandemic, is worsening. Bidding wars are up to a new all-time high, and every single major forecast model shows home prices rising nationally this year.

That said, there are a few regional housing markets that could buck the national trend and actually post declining home values this year. That's according to an analysis released this week by CoreLogic, a real estate research firm ranked No. 952 in the Fortune 1000.

On Wednesday, CoreLogic provided Fortune the market risk calculation for 385 metropolitan statistical areas. Among those markets, CoreLogic rates 13 markets as having a "high" likelihood (between a 50% to 75% probability) of declining home prices in the coming 12 months. Those 13 markets include Niles, Mich.; Lake Havasu City, Ariz.; Chico, Calif.; Lewiston, Maine; Modesto, Calif.; Muskegon, Mich.; Pittsfield, Mass.; Prescott, Ariz.; Worcester, Mass.; Bend, Ore.; Kalamazoo, Mich.; Merced, Calif.; and Springfield, Mass.

Continue Reading

               --------------------------------------------------------------------

Me, I don't predict the future.
I simply report on what happened in this market in the past and what is happening in the present. If you wish to, use the information I post here as you see fit to help you gauge what is going to happen in the future. 

That said, at this time there are no signs of a slowdown in this market. It is not loosening up, the inventory is not increasing. If anything the market is running tighter, with more buyers who may have lost out on a house before and are now more determined and better prepared to enter the fray. They, the better prepared, are putting desirable homes in contract lickety-split, often in the midst of multiple offers and often at list or over list prices. That is the not-so-new normal of what's happening in this market now.

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

they're squeezing them in where ever they can

New homes, that is.
This one looks like it will have a birds-eye view of Craycroft Rd. click photos to enlarge them

In the foothills homes are being built on lots that for years were passed over and ignored. Not no more, they're squeezing them in where ever they can. 

Other parts of the country talk about building their way out of their housing shortage. Not here, not in the foothills anyway. There's not enough land to build enough homes to make a difference. And whatever there is, be it by the side of this road or another one, are being built on or soon will be. 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

in contract last week, 2/28 - 3/06/2022

From Monday Feb 28 thru Sunday March 6 - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 & 85750)
(link expires 4/12/2022)

 2 at $450,000 & $499,995
13 from $650,000 to $929,900
 4 from $1,295,000 to $2,350,000

and btw, those 19 homes went to contract in 4 median DOM, 2 days or more quicker than recent weeks/months

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

Housing markets tightening across the USA

Barclays Bank surveys 100's of real estate agents in 38 cities across the country about market conditions in their local market. And each month I participate in the survey covering the Tucson housing market. In addition to answering a set of questions Barclays asks agents to leave a short comment about the current market. The Barclays analysts review the market data, put together the report and choose the comment that best describes prevailing market conditions. They produce a report for each of the 38 cities surveyed and send the complete report with all 38 cities to those agents who participated in the survey.

I just received the latest report and the headline is, "Lack of Home Supply Slowing Buyer Traffic"  which sums it up nicely.  
The comment I left was also focused on the low supply of homes but was probably stated less elegantly. 

Click the report to enlarge it

After reviewing the Tucson report I thumbed thru the headlines of the other 37 cities and found that the low supply issue is even more widespread than I realized.

 I chose the following 21 headlines from the 38 cities included in the report. 

Boston, MA –Persistent Inventory Shortage Pushes Prices Higher; Rate Urgency Fuels Traffic Lift

Cincinnati, OH –Housing Supply Outnumbered By Interested Buyers

Denver, CO –Housing Supply Constraints Persist, Especially at More Affordable Price Points

Detroit, MI –Buyers Look to Lock In Lower Rates Across Slim Housing Offerings

Houston, TX –Prices Continue to Rise, Leaving Scarce Inventory Available for Entry-Level Buyers

Kansas City, MO –Limited Inventory Pushes Prices Higher, Buyer Traffic Accelerates

Las Vegas, NV –Demand Slows on Pandemic & Inventory Concerns, Although Prices Appreciate Further

Los Angeles, CA –Sales Pressured By Tight Inventory; Risk of Higher Rates Increasing Buyer Interest

Nashville, TN –Price Appreciation & Strong Traffic Patterns Persist; Buyers Staying Put in Larger Homes

Orlando, FL –Inbound Migration Supports Steady Buying Activity; Prices Climb Against Tight Inventory

Philadelphia, PA-Southern NJ –Short Inventory Levels Stifle Buyer Traffic

Phoenix, AZ –Supply Softness Pushes Prices Higher on Elevated Buyer Traffic

Portland, OR –Prices Jump Against Stable Buyer Traffic & Inventory Pressures

Raleigh, NC –Shortage of Inventory Pressures Purchasing Activity; Buyers Engage in Multiple Offer Bidding

San Diego, CA –Accelerating Prices on Limited Offerings Push Buyers to the Sidelines

San Francisco, CA –Buyer Interest Persists Despite Inventory Shortage

Seattle, WA –Buyer Traffic Outweighs Available Listings

Tampa, FL –Inventory Pressures & High Prices Dampen Purchasing Activity; Multiple Offer Competition Continues

Tucson, AZ –Lack of Home Supply Slowing Buyer Traffic

Virginia Beach, VA –Inventory Pressures Worsen as Buyer Activity Accelerates

Washington, D.C. –Rising Mortgage Rates Incentivize Buyers to Shop Limited Inventory

                           -------------------------------------------

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

54 single family homes sold in the last 30 days

how many sold at, below and above list price?
(MSP-median sold price // DOM-days on market)

14 sold for list price
at $854,500 MSP // in 6 DOM

21 sold for less than list price
at $772,500 MSP // in 38 DOM

19 sold for more than list price
at $660,000 MSP // in 3 DOM

for a visual treat take a moment to lookover the home that sold for $3.0m, probably the most striking contemporary I've ever seen...and apparently the buyer, and the other bidders, felt something like that as well, the house was listed for $1,995,000 and sold, in 2 days, for $3,000,000.  yes, $1,005,000 over list price.

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

Jan - Feb Homes Sales, Now and Then

The following is a snapshot of January - February single family home sales in the Catalina Foothills from 2019 to 2022.
It's pretty much the same pattern we've seen since the 3rd Qtr of 2020; rising prices, quick sales, more cash sales and a dwindling number of homes for sale. 

Year	# Homes Sold	# Sold for Cash	% of Cash Sales	Median Sold Price	% $Rise prior year	Days on Market	# Homes For Sale
2022	116	44	38%	$710,000	12.7%	9	+/- 67
2021	141	46	32.6%	$630,000	15%	10	+/- 80
2020	132	34	25.7%	$547,500	10.6	32	+/- 230
2019	97	34	35%	$495,000	2%	71	+/- 318

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

in contract last week, 2/21 - 2/27/2022

From Monday Feb 21 thru Sunday Feb 27 - 21 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 / 85750)  (link expires 4/01/2022) 

4 were priced from $429,900 to $549,000
9 from $625,000 to $850,000
8 from $1,165,000 to $1,650,000

the numbers say they went to contract in 9 DOM. But in reality when the listing goes into the MLS on 2/17 and it states "... allow time in contract for seller to review and respond to offers on Monday  Monday 2/21 ..." the DOM have been extended by 4 days in order to create a silent auction.
If that wasn't done some of those homes would have gone to contract sooner, on their 1st or 2nd day on market.

and the $Mil+ market, geez, as hot as ever

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

a new low

there are 65 single family homes for sale in the foothills today

End of February, beginning of March is (used to be) the height of the season, with more activity, more showings and more contracts than at other times of the year. But with just 65 homes for sale that is not likely this Feb/March

Feb/March 2019 there were 318 for sale

Feb/March 2020 (on the cusp of covid) there were 232 for sale

Feb/March 2021 there were 72 for sale, and so it goes 

Today there are 65 for sale, see them here
(link expires 3/30/2022)

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

 

Zillow says ...

The spring 2022 housing market will absolutely crush buyers — Zillow says home prices to spike 22%

 Fortune.com

BY 

LANCE LAMBERT
February 17, 2022 3:20 AM MST

 
Heading into 2022, there was a wide consensus among real estate firms that the annual rate of home price growth—which peaked at 20% in August 2021—would steadily decelerate this year as some normalcy began to return to a housing market that had boomed during much of the pandemic. But now some experts aren't so sure.

Back in December, Zillow forecast that the 12-month rate of home price growth would decelerate to 11% by the end of the year. Then in January, Zillow revised that figure—saying that we would finish 2022 up 16.4%. On Wednesday, Zillow once again shifted its forecast upward: It now expects the year-over-year rate of home price growth to peak at 21.6% in May and to close the year at 17.3%. Simply put: Instead of decelerating, Zillow sees the 2022 spring housing market getting even hotter.

What's going on? Instead of inventory levels beginning to normalize this year, the situation is getting worse. In January 2021, the number of homes for sale was 26% below the level hit in January 2020. Last month we were 42% below January 2020. That lack of inventory means buyers will once again be forced to bid up prices if they hope to land a home.  
Continue Reading the Article

                --------------------------------------------------------------------

Speaking only for the Catalina Foothills single family home market the low inventory and high demand that began in the 2nd half of 2020 has not eased or improved at all this year. And I don't see any signs that it will improve anytime soon. With continuing low inventory, high demand and buyers who are not shying away from multiple offer situations I don't see how prices have anywhere to go but up. How far up I have no idea but the experts do. Take your pick, Zillow, Core Logic, Fannie Mae and others are predicting increases ranging from +3.5% to +22%. 

And many headlines and talking heads are predicting that rising mortgage rates will dampen the market - maybe a tiny bit but, in this market in the Catalina Foothills, not much, not a sea change. For me the last sentence in the article nails the negligible effect of rising rates ; There are so many sidelined homebuyers that even if some are priced out by rates, there will be others waiting to replace them. 

We'll soon see.

               ----------------------------------------------------------------------

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

in contract the last 2 weeks, 2/7 - 2/20/2022

From Monday Feb 7 thru Sunday Feb 20 - 36 single family homes went to contract in the Catalina Foothills of Tucson, AZ   (85718 / 85750)  (link expires 3/24/2022)

4 were listed from $479,000 to $579,500
21 from $615,000 to $998,000
11 from $1,190,000 to $1,999,999

they went to contract very quickly, in just 5 DOM, which I'm guessing may have something to do with why 5 other homes that went to contract fell thru
Yes, there were 41 in contract but 5 have fallen thru and, as I mentioned last week, I wouldn't be surprised if at least some them fell thru due to buyer remorse - buyers having to make offers too quickly and perhaps for more $$ than they thought they should, in order to be the winning bidder.. 

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

in contract last week, 1/31 - 2/6/2022

From Monday January 31, thru Sunday February 6, just 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 3/15/2022)

1 was priced at $595,000
6 from $650,000 to $975,000
4 from $1,100,000 to $1,900,000

That's it, and It is the lowest number of weekly contracts that I can recall. Also, there were 15 in contract but 4 of them fell thru - 4 out of 15 is a high percentage (26%) of deals falling thru in one week. Don't know why they fell thru but I wouldn't rule out buyer remorse, due to having to make their offer super quickly and perhaps for more $$ than they reasonably thought they should, in order to be the winning bidder.. 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

January home sales, now and then

As we start the new year here's a snapshot of January single family home sales in the Catalina Foothills;
It's pretty much the same pattern as last year, of rising prices, quicker sales, an increasing percentage of cash sales and a dwindling number of homes for sale, resulting in fewer sales this January. 

Year	# Homes Sold	# Sold for Cash	Median Sold Price	Days on Market	# Homes for Sale
2022	64	23	$710,000	12	70
2021	86	22	$638,000	17	82
2020	55	12	$577,000	30	228
2019	50	15	$508,000	62	310

 

 

 

 

 

To add some perspective to those numbers, here's a piece from MarketWatch:
These 2 numbers sum up why the housing market won't get back to normal for a long time.

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

in contract last week, 1/24 - 1/30/2022

From Monday January 24, thru Sunday January 30,  20 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 3/6/2022)

 5 were listed from $505,000 to $599,000
10 from $625,000 to $925,000
 5 from $1,395,000 to $4,900,000

Of this group of 20 homes, 8 of them were listed and structured with the expectation that they would receive multiple offers - the listings contain language in the Agent Only section of the listing providing the date (usually 2 - 4 days from when it first appears in the MLS) when offers need to be submitted by and when the seller will respond to those offers. Thereby allowing a few days for multiple buyers to view the property and multiple buyers to submit offers, setting up a competitive silent auction scenario. A what are you willing to pay for this home, put your best foot forward.  

This is becoming more common, and why not, there are more buyers than there are desirable homes for sale, is there a better, more fair way to do it. And, an unintended consequence, since it delays by a few days the acceptance of the winning offer it also increases the number of days on market (DOM) that will be showing up in the data. 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

real estate 2022 / hopes, dreams, expectations

Following are a few articles from Bloomberg and FORTUNE addressing the big question, what to expect from the 2022 residential real estate market. 

Dwindling inventory

From Bloomberg Wealth
Available Homes Shrink More Than 30% in Hottest Housing Market
It would take less than a week to sell all the inventory in Seattle, and about 9 days for San Jose and Denver at current prices, according to Redfin.

By Allison McNeely

January 18, 2022, 10:35 AM MST

 

The time it would take to sell all available homes in some of the hottest U.S. housing markets continued to shrink in December as active listings fell. 

Seattle had the fewest months of supply, with San Jose and Denver close behind. Active listings in those markets fell by more than 30% in December compared to the previous month, according to data from Redfin Corp. It would take less than a week to sell all the inventory in Seattle, and about 9 days for San Jose and Denver at current prices.
Continue Reading Here

-----------------------------------------------------------------------------------------------------------------

From Me:

A comment about the 30% figure - there's a seasonal effect that comes into play in December ((hello Holidays, jingle jingle) that causes some would-be sellers to not list their homes in December + the surging Omicron virus may have given some sellers cause to pause. 30% drop, sure, but due to what?

 

In the foothills our current months of inventory varies from -1 to 1.5 months for homes priced up to $1,999,999 and jumps to 9 months for those priced $2M & UP.

In the foothills our inventory is way down;
January 2018  / 308 homes for sale
January 2019  / 310 
January 2020 /  228 
January 2021 /  82 
January 2022 /  70 
In 2021 the inventory bounced around from the mid 60's up to the mid 80's for most of the year. 

Check out the Catalina Foothills Market Snapshot for the number of homes for sale, in contract and sold + months of inventory broken down into 8 price ranges

 

_____________________________________________________________________________________________________

 Prices still rising 

From Bloomberg Wealth

A Typical U.S. Home Is Now Valued at $320,662 — 20% More Than a Year Ago

Low inventory and unrelenting demand are continuing to fuel price growth in the American real estate market. 

By Claire Ballentine

January 21, 2022, 9:48 AM MST

Mortgage rates are creeping higher, yet the U.S. real estate market is still breaking records. 

Home values on average jumped almost 20% in the past year, the most ever, according to a new report from Zillow. A typical house is now worth $320,662 — an increase of more than $50,000 from December 2020. 

After two years of surging prices for homes across the country, anxious buyers had hoped 2022 would bring some relief, as policy makers plan interest rates hikes that could cool down the market. That’s yet to happen though, with strong demand from millennials and a shortage of available homes still propping up prices. Mortgage rates just reached their highest level since the pandemic began, but at 3.56% are still historically low.
Continue Reading Here

      ----------------------------------------------------------------------------------------------------------------------

From Me;
The Catalina Foothills median sold price for Q4 2021 was $700,000, up 21.7% over Q4 2020 at $575,000. 

And, for what it's worth, the median sold price so far this January is $736,250, $710,000 (updated 2/5/22)
More sales will close on Monday the 31st and others that have already closed but have not yet been turned in to the MLS will likely bring that figure up or down.

______________________________________________________________________________________________________

will it ever get back to normal

From FORTUNE
Homebuyers: Buckle up for another brutal spring housing market

BY LANCE LAMBERT

January 18, 2022 4:31 AM MST

It's usually around this time of year, with the holiday season firmly in the rearview mirror, that homebuyers and sellers alike begin to make their way back into the market. That will continue to pick up each week until March arrives. At that point, the industry's busy season—known as the spring real estate market—will be off to the races.

But this year there is more unease than excitement coming from the home shopper side of the equation. For one thing, last year's spring housing market, which was arguably the fiercest in history, is still seared into the collective memories of unsuccessful 2021 home shoppers. To understand how far the deck was stacked against buyers last year, just look at the data. The number of homes for sale last spring hit the lowest level in more than 40 years. Bidding wars hit an all-time high—with 72% of homes getting multiple offers in April 2021. And that frenzy saw home appreciation climb to the highest level in tabulated history.

That raises a question: Should homebuyers expect to find a spring housing market in 2022 that is friendlier when compared with 2021? After all, the rate of home price growth over the past year—up 19.1% between October 2020 and October 2021—just can't be sustained forever.
Continue Reading Here

          ----------------------------------------------------------------------------------------------------------------------------------
From Me

I see no signs of a more normal market coming anytime soon. There's been no meaningful increase in listings, nothing that comes even close to beginning to satisfy the demand. Meanwhile buyers have gotten into the swing of things and are participating in the silent auctions that have become more common these days. And when 8, 10 or 12 buyers bid on a property it's a pretty sure bet that that property is going to sell for over list price and that the 7 or 8 buyers that didn't get it this time are probably going to up their game the next time they make an offer.                            And up-up go prices. 

And there's also no way to build our way out of the lack of homes for sale. 
Why? Because there are very few lots available (33 currently for sale from $19,500 to $1,450,00 scattered all across the foothills) and no big chunk of land to build a sizable number of homes, 40, 100 or more homes, in one spot. The foothills is pretty much built out.
Recently a few builders that years ago had built 40 or 50 or more homes on what large tracts of land remained in the foothills have acquired a lot here or a few lots there to build homes. But that's not nearly enough to make even dent in the demand. Currently there are 13 new homes listed for sale from $693,900 to $4,595,000 that are not yet built and that may not be built until a buyer comes along who is willing to wait a long time for the finished product. 

That's it.
Thank you for stopping by, I look forward to your comments, questions and suggestions. 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

in contract last week, 1/17 - 1/23/2022

From Monday January 17 thru Sunday January 23,  12 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 3/1/22)

3 were priced from $525,000 to $599,000
6 from $625,000 to $995,000
3 from $1,150,000 to $2,650,000

a pretty slow week, hmmm ?, could it be, little or nothing for buyers to choose from, meanwhile, the 12 that did go to contract went fast, in 5 median DOM

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

more buyers, fewer listings = more competition

With winter visitor/snowbird season in full bloom it's no surprise the real estate market in the Catalina Foothills is now even more busy, more competitive and more frustrating for buyers than it was last year. And, to put it politely, last years market was very challenging.

In the last few weeks there have been a constant stream of buyers at showings that I've attended. Constant. And the number of offers being tossed at anything that's halfway decent combined with a dearth of new listings is making it very difficult to buy a home. 

And the 22% increase in median sold prices for the 960 homes that sold last year does not appear to be putting even a dent in buyers enthusiasm to further bid up the price of homes. Also we're seeing more new listings that are structured to create a silent auction. They contain specific information as to when the seller will review and respond to offers. Yes, increasingly it is now assumed that the listing will receive multiple offers.

For instance; a new listing appears in the MLS on Thursday March 10th with the following information;
Please submit your offer by Sunday March 13 and allow adequate time for the Seller to review and respond to offers on Monday March 14.  

They're setting up the conditions for a silent auction and inviting a bidding war. And because there are more buyers than there are homes for sale it is becoming more commonplace to do so. And since there are more buyers out there with cash, more sellers are looking only at CASH offers. They don't want to and don't have to deal with the contingencies and uncertainties of an offer that comes with a mortgage.

In those circumstances it boils down to making the best offer you are willing to make for that home, period. Because it is likely you will get just one shot at it. And if your offer isn't the best offer the house is going to go to someone else. And if you don't get it, with so few homes for sale, how long will it be before you find another home that you like as much. And if and when you do find another one, is it going to be less $$ or more, than this one. Harsh, grim, yep kinda, but that's the market. 

Checkout the Market Snapshot for the latest numbers on what's for sale, in contract and sold 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see my website TheFoothillsToday.com 
to find your Catalina Foothills Home

 

in contract last week, 1/10 - 1/16/2022

From Monday January 10th thru Sunday January 16th,  19 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 2/20/22)

5 were listed from $455,000 to $599,000
9 from $625,000 to $975,000
5 from $1,029,000 to $2,499,000

 all 19  went to contract in 9 median DOM - while 8 of them went in 3 days or less

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see TheFoothillsToday.com 
to find your Catalina Foothills Home

 

2021 was an Extraordinary Year for Catalina Foothills Upper-End Home Sales

182 homes sold from $1,000,000 to $4,063,564 - way more sold than in any other year, ever.
Where did most of them sell
the following were the top 11* subdivisions + unsubdivided sales for high-end sales in 2021
(*based on # of homes sold)
Click any subdivision name to see all the homes that are currently for sale = Active + Active Contingent = 1st stage of in-contract. 
if you get 0 results it is because there is nothing for sale at this time. 

Catalina Foothills Estates (1 - 9)
16 sold $1,047,098 to $2,610,000
$1,422,500 MSP / 7 DOM / @  $334/sf 

Catalina Foothills Estates 10
12 sold $1,100,000 to $1,695,000
$1,399,520 MSP / 12 DOM / @ 280/sf

La Paloma (including Ridge, Estates)
9 sold $1,200,000 to $2,500,000
$1,294,300 MSP / 6 DOM / @ $304/sf

Pima Canyon
25 sold $1,020,000 to $3,175,000
$1,595,000 MSP / 8 DOM / $383/sf

Ventana Canyon (including CC, Estates, Mountain Est, Whaleback)
11 sold $1,000,000 to $4,063,564
$1,371,000 MSP / 24 DOM / $270/sf

Skyline CC
10 sold $1,000,000 to $3,337,500
$1,525,500 MSP / 32 DOM / $348/sf

Flecha Caida
5 sold $1,104,700 to $1,400,000
MSP  $1,225,000 / 45 DOM / @ $288/sf

Alta Vista 
6 sold $1,050,000 to $1,400,000
MSP  $1,087,500 / 10 DOM / $282/sf

Sabino Mountain
4 sold $1,280,000 to $1,590,000
MSP  $1,335,000 / 2 DOM / $347/sf

Canyons (The)
5 sold $2,600,000 to $3,795,000
MSP  $3,200,000 / 28 DOM / @ $470/sf

Finisterra
5 sold $1,325,000 to $2,950,000
MSP  $1,895,000 / 137 DOM / @ $335/sf

last but not least,
Unsubdivided 
foothills homes that are not located in a subdivision, no ccr's, no hoa, no hoa meetings, fees. Unsubdivided homes are located in different areas throughout the foothills. 
Unsubdivided    (link will expire 2/17/22)
13 sold $1,025,000 to $3,250,000
MSP  $1,535,000 / 17 DOM / @ $399/sf

That should be 121 of the 182 homes sold at $1,000,000+ last year, the remaining 61 are located here and there in a variety of subdivisions throughout the foothills.

To sum it up,
182 sold $1,000,000 to $4,063,564
MSP  $1,347,400 / 10 DOM / $320/sf

Wow!

Best year for upper-end sales before 2021?,  long time ago, 2006

Have a look, this first chart is 2005 to 2020

and this one is 2015 thru 2021, POW out of the park

 

Take care, stay well

John Schneider, Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
(520) 271-4164
johnschneiders@gmail.com

see thefoothillsToday.com 
to find your Catalina Foothills home

what’ll it be, 85718 or 85750

THIS IS A RE-POST OF A BLOG POST I WROTE IN 2015, 
this new version is updated here and there, the graphs and the numbers, the # of homes for sale, in contract, sold etc, 

The Catalina Foothills is divided into two zip codes, 85718 and 85750, with Craycroft Rd the east/west dividing line between the two. 

Most of the buyers I meet have a preference for one or the other or they quickly develop a preference as they investigate the two areas.  And aside from the homes that are for sale in each zip their preference is often based on the look, feel, geographic, topographic, tempo and convenience features of the two areas - which are fairly distinct.

85718 is more developed, with more plazas, restaurants, bars, boutiques, shopping and, some would say, more pizzazz.  718 is also closer to downtown Tucson, to Banner Medical Center and to the University of Arizona.  And if you’re looking for an older adobe home or a Joesler, you are, with some exceptions, talking about 718. 718 is where John Murphey and Josias Joesler first established the Catalina Foothills Estates, the very first development in the Catalina Foothills in the 1930’s. 85750 came much later. And though not to everyone’s taste, 718 also has many more gated communities than 750.

But 85750 has its charms as well. With its main shopping, restaurant and retail plaza at one location, at Kolb & Sunrise, it’s less developed, less busy with fewer vehicles coming and going and has a calmer, more tranquil atmosphere than 718. For recreation and rejuvenation 750  is home to the hard to beat combination of  Sabino Canyon, Canyon Ranch and Ventana Canyon Golf & Racquet Club.

And beyond that there are also price differences between the two zips, with more higher priced homes in 85718. And, in general, you probably get a bit more home  for your money in 750. Though, with the current crazy market, who knows. 

Below on the left side is 85718 with a grand total of 42 single family homes for sale – bordered on the north by the Coronado National Forest, Craycroft Rd on the east - River Rd on the south and 1st Ave on the west.

And on the right is 85750 with an equally meager selection of 38 single family homes for sale –  bordered on the north by the Coronado National Forest then Sabino Canyon and Sabino Creek on the east, River Rd on the south and Craycroft Rd on the west.

When this post originally appeared in 2015 there were 206 homes listed for sale in 718 and 192 in 750... those were the days when you could find a home that you liked and sleep on it and it would still be there in the morning. Now, not so much.

For you number crunchers, 85718 v. 85750 by the numbers.
The number of homes for sale, in contract and the number sold in the last 6 months, along with median list and sold prices and DOM.

85718
42 homes for sale
$1,237,500 - Median List Price

44 homes in contract
$774,500 - Median List Price

239 homes sold in the last 6 months
$750,000 - Median Sold Price
8 - DOM  

85750
38 homes for sale
$1,299,000 - Median List Price

38 homes in contract
$699,500 - Median List Price

194 sold in last 6 months
$635,000 - Median Sold Price
5 - DOM

Why are the median list price numbers so much higher than median sold prices.

There are more homes listed for sale at $1Mil+ (44 ) than there are listed for up to $999k (35), which puts the median list price up in the $1Mil+ range.
In terms of sales though, homes listed for up to $999k sell many more (53 in the last 30 days) than sell at $1Mil+ (20 in last 30 days), which puts the median sold price at well under $1Mil. 

Check out the Market Snapshot for a closer look at the number of listings, contracts and sales by price range.

85718 & 85750, they’re both in the Catalina Foothills but the look, feel and tempo of each are  different. If you’re new to town be sure to check out both areas.

 

Take care, stay well

John Schneider, Realtor®
Tierra Antigua Realty
Catalina Foothills Homes
(520) 271-4164
johnschneiders@gmail.com

see thefoothillsToday.com 
to find your Catalina Foothills home

 

in contract the 1st week of 2022, 1/3 - 1/9/2022

From Monday January 3rd thru Sunday January 9th,  19 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 2/10/2022)

5 were listed from $525,000 to $595,000
9 from $600,000 to $879,000
5 from $1,089,000 to $1,850,000

and, as has been the case for the last 12 months or so, the 19 homes went to contract in a flash, in 5 MDOM (median days on market)

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

see TheFoothillsToday.com 
to find your Catalina Foothills Home

a rip roaring start to the New Year

9 new listings in last 3 days and 5 of them, priced from $799,000 to $1,300,000, are already in contract - and 4 of the 5 went to contract on the same day they were listed. 

Take care, stay well. 

John Schneider, Realtor®
Catalina Foothills Homes
(520) 271-4164
johnschneiders@gmail.com

see thefoothillsToday.com 
to find your Catalina Foothills home

Catalina Foothills Home Sales Data 2015 thru 2021

Hello and welcome

If you've been following my monthly sales reports from previous months, this one is pretty much the same. A continuation of the same hectic, low-supply / high-demand, fast moving market we've seen for all of 2021. The only difference here is that this report includes the sales data for the full years from 2015 thru 2021. 

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 each year from 2015 thru 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 about 80% of all the homes sold in the Catalina Foothills. It's a market that had been fairly stable and slowly improving in recent years, that is, 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 2020 and has continued and worsened since then. The drop in sales in 2021 was not due to lack of motivated buyers. No. There were and still are plenty of buyers. There are not nearly enough homes for sale to satisfy those buyers.

On the other hand sales at $1,000,000 & UP are Way UP. Huh?  How? Why? After peaking in 2006 at 126 homes sold, followed by the devastating market crash of Sept. 2008, by 2009 $Mil+ sales had dropped 68%, to 40 homes sold that year. Upper-end sales continued to bounce along the bottom - averaging about 46 homes sold/year from 2009 to 2019 - until 2020 when things perked up in the 2nd half of the year with 86 sold. As you might imagine, there were a lot of high-end homes unsold and left over from those stagnant years. And many of those homes, and others that recognized the opportunity, came back on the market in time for 2021 when the market really took off with a record shattering 182 homes sold from $1,000,000 up to $4,063,564. 

Next up, median sold prices for all homes sold. Prices are also Way UP. They're up 22.5% over 2020 and up 40% over 2019

Some of that price jump is due to the big increase in the number of homes sold for $1,000,000 & UP in 2021.
If we include only homes sold for up to $999,999 the 2021 price increase is 16% over 2020 and 32.8% over 2019. 

Next, DOM.. Homes sold faster, by a wide margin, in 2021 than in any other year

at the risk of beating it to death ...
The supply of homes is both very skimpy and also lopsided. 959 total homes sold in 2021
As I noted up above, home sales up to $999,999 comprise about 80% of the market - 777 sold in 2021
while home sales at $1Mil and Up comprise about 20% of the market - 182 sold in 2021

yet, of the overall skimpy supply, just 77 homes for sale at all prices
33 of them (43%) are listed for up to $999,999
while 44 of them (57%) are listed at $1Mil and UP

Which makes for a very tight market across the board, but even more so at under $1Mil.

Check out the Market Snapshot for a more detailed look at current supply and demand

Contact me if you have a question or would like my help navigating the market.  Thanks for stopping by.

Take care, stay well. 

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

 

in contract last week, 12/20 - 12/26/2021

From Monday December 20 thru Sunday December 26,  13 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 1/28/2022)

 2 were priced at $349,000 & $475,000
10 from $629,000 to $880,000 
  1 at $1,300,000

 

Wishing you a happy, healthy New Year

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

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

10 hidden gem housing markets

and Tucson is one of them. 

According to a recent article in Market Watch
         -------------------------------------------------------------------------

These 10 ‘hidden gem’ housing markets are poised for major growth in 2022, Realtors predict

By
Jacob Passy

Home-price appreciation is expected to slow next year — but some markets will continue to stand out

Next year may not see the runaway home-price growth of 2021, but certain markets are set to see prices rise considerably in the new year.

The National Association of Realtors conducted a survey of more than 20 economic and housing experts to gauge their expectations of home-price growth, inflation and interest-rate movements in the year ahead. The group predicted that median home prices will rise by 5.7% in 2022, compared with a 4% rate of inflation overall.

Meanwhile, these experts projected that the Federal Reserve would opt to hike interest rates twice by 0.25%. On Wednesday, the Central Bank said it was projecting three interest-rate hikes next year, as well as three in 2023 and two in 2024.

Depending on whether the Fed’s current projection holds true, the rate of home-price growth could be even lower next year.

“Slowing price growth will partly be the consequence of interest rate hikes by the Federal Reserve,”

Lawrence Yun, chief economist at the National Association of Realtors, said. Higher rates will tamp down the pace of home sales, which Yun projects will fall to 5.9 million from the annual rate of 6 million estimated for all of 2021.

Some undervalued housing markets could attract buyers in 2022

Amid this backdrop, though, the National Association of Realtors expects some housing markets to see bumper price growth. The organization’s economists came up with a list of 10 “hidden gem” markets where price appreciation will outpace the national average. These markets include,
in alphabetical order:

• Dallas-Fort Worth, Texas
• Daphne-Fairhope-Farley, Ala.
• Fayetteville-Springdale-Rogers, Ark.-Mo.
• Huntsville, Ala.
• Knoxville, Tenn.
• Palm Bay-Melbourne-Titusville, Fla.
• Pensacola-Ferry Pass-Brent, Fla.
• San Antonio-New Braunfels, Texas
• Spartanburg, S.C.
• Tucson, Ariz.

              ---------------------------------------------------------------------------------

Continued from Market Watch

I agree, Tucson is a gem. But a hidden gem?, it sure doesn't seem like it to those of us trying to help buyers find a home. For the last 18 months buyers have been coming here from all over the country in greater numbers and with bigger appetites to find a home to buy. And with the market as hot as it's been, with homes selling faster than ever before and at much higher prices it is hard to see how anyone could/would call Tucson hidden. But maybe, we'll soon see. January, traditionally the beginning of our snowbird busy season is right around the corner.

Take care, stay safe

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164 

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

 

in contract the last 2 weeks, 12/06 thru 12/19/2021

From Monday December 6 thru Sunday December 19 , 31 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 1/20/2022)

 8 were priced from $395,000 to $598,000
15 from $600,000 to $925,000
 8 from $1,065,000 to $1,495,000

and with no let up for the Holiday Season many of them they flew off the shelf and went to contract in 6 median DOM (days on market)

 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

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

64 single family homes sold in the last 30 days ....

what did they sell for ?
MSP = median sold price  // DOM = days on market

16 sold for list price
at $670,000 MSP in 5 DOM

26 sold for less than list price
at $687,500 MSP in 20 DOM

22 sold for more than list price
at $600,250 MSP in 4 DOM
(links will expire on 1/13/2022)

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

search TheFoothillsToday.com 
to see all the single family homes for sale in the Catalina Foothills, and only in the Catalina Foothills

Catalina Foothills Rental Home Market

I don't do rentals, I handle only buyers and occasionally sellers of single family homes in the Catalina Foothills.

But Foothills Management specializes in rental property and they approached me about doing a guest blog post. And I thought why not, given the short supply of homes for sale it may be just the right thing at the right time. So without further ado, here's a blog post from Foothills Management

Catalina Foothills is a community located in the southern foothills of the Santa Catalina Mountains, north of Tucson in Pima County, Arizona. The area has an elevation of 785m and includes some of the most expensive lands and houses in Arizona. This small region of 41.92 mi² offers the best sights and recreational experiences to be found in Arizona.

Catalina Foothills is one of the most affluent communities in the state of Arizona. Here you will find some of America’s most celebrated art galleries, breath-taking golf courses, memorable dining experiences, and lots of great places to shop. Located on the doorstep of the Sonoran Desert, Catalina Foothills offers easy access to the most satisfying natural landscape in Tucson.

The best place To live and retire in Arizona

As Foothills Management says, Catalina Foothills location gives residents the best view of the spectacular Santa Catalina Mountains. A chance to  connect with nature is one reason this community is consistently voted as the number one suburb to live in Arizona. The presence of several excellent schools makes Catalina Foothills even more attractive to families with young children.

Also, family-friendly community spaces and energetic suburban lifestyles create that rare combination of serenity and economic opportunities. The area is just twenty-minute drive from downtown Tucson. Its above-average healthcare, soothing weather, and abundant leisure activities make it one of the best places to live and retire in the USA.

For owners and operators of rental properties, Catalina Foothills offers one of the best housing markets to invest in. The average rent in the Foothills is $1,127 for an 807 sq. ft. apartment. This figure is more accurate for one-bedroom apartments since they are closer in size to the quoted average. Two-bedroom and three-bedroom apartments rent for a lot more than the average rent. Apart from size, rental rates are also affected by location and the quality of the apartment. If you are a property investor thinking of buying a rental property in the Catalina Foothills, or a renter thinking of moving to the area, here is what you can expect to pay or earn as rent. The figures quoted should be used only as a guide.

Here is a sample of the rental homes we found

Single-family houses
Homes with four bedrooms and square footage of between 1,569sqft - 3,716sqft, and two to four bathrooms, rented for between $2,000 - $4,500 a month. Three-bedroom homes of between 1,400sqft - 2,400sqft, and two bathrooms, were slightly lower at $1800 - $4,500 a month. Apart from the location of the houses, the number of floors also mattered.

Townhomes
Most of the townhomes were of the three-bedroom variety with two bathrooms, on average. The size of the homes ranged from 1,400sqft to 2,500sqft. The monthly rent for a townhome is between $1,500 and $4,000 a month. Though we did find a townhome that rented for $9,000/month, this is an exception; it probably costs that much because of its location.

Condominiums
The monthly rental for condos varied from $1,600 to $2,700 a month. Most were two to three bedroom homes with one to two bathrooms, and square footage of 1,409sqft - 2,395sqft (three bedrooms) or 1,077sqft - 1,258sqft (two bedrooms). Meanwhile, three-bedroom condos may rent for as high as $3,800/month but the average rent hovered at $2,500/month.

Studio apartments
Expectedly, studio apartments were the most affordable at $635 - $955 a month. Some studio apartments cost more to rent than one-bedroom apartments, possibly because of their location. Average rent for a one-bedroom apartments is $690 - $1,907 a month. The one-bedroom apartments we looked at ranged in size 418sqft – 759sqft.

The biggest factor in how much a home rented for is the subdivision where it is located. Some of the luxury subdivisions in the area include Pima Canyon, Cobblestone, and Sin Vacas. Homes in these places, along with those located near the golf courses like Ventana Canyon, Skyline Country Club, and La Paloma attract the highest rents.

 Foothills Management can help with all your rental needs

in contract the last 2 weeks, 11/22 - 12/05/2021

From Monday November 22 thru Sunday December 5, 35 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(85718 / 85750)  (link expires 1/08/2022)

12 were priced from $349,000 to $597,000
12 from $617,500 to $950,000
11 from $1,199,000 to $4,000,000

That is a lot of activity for 2 weeks in middle of the holiday season, particularly for the 1$mil+ market. The market used to slow down, take a break at this time of year and upper-end buyers would show up and start kicking tires after the holidays, in Jan/Feb of the new year. 

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

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

 

 

Catalina Foothills Home Sales / January thru November 2021

Hello and welcome

If you've been following my monthly sales reports for previous months, this one is pretty much the same, a continuation of the same hectic, low-supply / high-demand, fast moving market we've seen for most of this year. 

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 November 30th 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, that is, 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 continued and worsened since then. The drop in sales is not due to lack of motivated buyers. No. There are plenty of buyers, there are not nearly enough homes for sale to satisfy demand.
 

today, there are just 84 single family homes for sale
For perspective, in December of previous years there were;
320 for sale Dec 2017
307 in Dec 2018 
258 in Dec 2019 
and by Dec of 2020 we were down to around 120 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 $$Mil+ homes from the luxury building/selling frenzy of 2003 - 2006 that quickly fizzled in 08 (like everything else did) and remained fizzled from then to 2019. Sales perked up in 2020 and then really took off this year - and with no signs of stopping - contracts at $$Mil+ remain strong. 

                       ------------------------------------------------------------ 

With high demand and very short supply homes are selling quickly

                                 ------------------------------------------------------------

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

higher than ever
                        ------------------------------------------------------------

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

Take care, stay well

John Schneider /Realtor®
Tierra Antigua Realty
johnschneiders@gmail.com
520 271-4164

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

 

the latest numbers, November sales

November sales were strong, 77 single family homes sold in the Catalina Foothills of Tucson, AZ (85718 / 85750)

77 79 Sold at $720,000 MSP in 7 median DOM (updated 12/5)

                       V.

November 2020

67 Sold at $585,000 MSP in 4 median DOM

 It is likely there are at least a few sales that have not yet been entered into the MLS for November 2021,  I will check and update the numbers in a few days. 

Take care, stay well

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

in contract last week, 11/15 - 11/21/2021

From Monday November 15th thru Sunday November 21st, 15 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 12/24/2021)

4 were priced from $460,000 to $525,000
8 from $624,950 to $935,000
3 from $1,095,000 to $1,375,000

And that's it. 
Happy Thanksgiving, Enjoy it!

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

in your favorite Catalina Foothills Subdivision, November 2021

Rather than looking at the entire Catalina Foothills real estate market, which is quite diverse, the following snapshot focuses on a variety of popular individual subdivisions across the Catalina Foothills. It includes the key data, the number of homes currently for sale, number in contract and the number sold from Jan 1 to Nov 15 in 2019, 2020 and 2021 along with median sold prices and days on market. Which makes for a more focused comparison of the market in different subdivisions in different areas of the foothills and at different price points. 

Also, Click any highlighted subdivision name to see all the homes currently for sale + those that are Active Contingent (the first stage of a property going to contract) – from the MLSSAZ (Multiple Listing Service of Southern Arizona).
MSP = median sold price / DOM = days on market

The sold numbers include all single family home sales from Jan 1 - Nov 15 of each year noted.

Alta Vista
1 home currently for sale at $1,285,000
2 in contract $989,000 & $997,500

2021 - 15 sold / $856,929 MSP /  5 DOM
2020 - 14 sold / $745,000  MSP / 91 DOM
2019 - 19 sold / $784,500  MSP / 41 DOM

Foothills Clusters
2 homes for sale $575,000 & $645,000
3 in contract $478,000 to $549,000

2021 - 12 sold / $428,500 MSP / 8 DOM
2020 - 10 sold / $420,000 MSP / 4 DOM
2019 - 17 sold / $354,500 MSP / 20 DOM

Skyline Bel Air
2 homes for sale $597,000 & $850,000
0 in contract

2021 - 20 sold / $734,500 MSP / 3 DOM
2020 - 25 sold / $580,000 MSP / 30 DOM
2019 - 22 sold / $525,434 MSP / 60 DOM

Shadow Hills 
1 home for sale at $1,200,000
4 in contract $750,000 to $900,000

2021 - 26 sold / $757,500 MSP /  4 DOM
2020 - 21 sold / $608,000 MSP / 45 DOM
2019 - 23 sold / $582,000 MSP / 19 DOM

Pima Canyon
0 homes for sale
2 in contract $1,349,000 & $1,475,000

2021 - 23 sold / $1,595,000 MSP /  8 DOM
2020 - 16 sold / $1,362,500 MSP / 35 DOM
2019 - 19 sold / $1,250,000 MSP / 121 DOM

Sin Vacas 
1 for sale $765,000
1 in contract $785,000

2021 -  7 sold / $925,000 MSP /  5 DOM
2020 -12 sold / $706,500 MSP / 40 DOM
2019 -10 sold / $682,500 MSP / 190 DOM

Foothills II
0 for sale
0 in contract 

2021 - 6 sold / $956,000 MSP /  8 DOM
2020 - 4 sold / $704,638 MSP /  5 DOM
2019 - 4 sold / $797,000 MSP / 45 DOM

La Paloma 
3 for sale $535,000 to $2,750,000 
5 in contract $525,000 to $795,000

2021 - 59 sold / $625,000 MSP /  6 DOM
2020 - 55 sold / $532,530 MSP / 25 DOM
2019 - 43 sold / $447,800 MSP / 29 DOM

Flecha Caida
4 for sale $650,000 to $1,475,000
3 in contract $500,000 to $1,050,000

2021 - 21 sold / $750,000 MSP /  8 DOM
2020 - 26 sold / $566,050 MSP / 35 DOM
2019 - 19 sold / $475,000 MSP / 26 DOM

Skyline Country Club
4 for sale $800,000 to $1,399,000
2 in contract $1,275,000 & $1,700,000

2021 - 16 sold / $895,500 MSP /   7 DOM
2020 - 26 sold / $785,000 MSP /  37 DOM
2019 - 12 sold / $635,000 MSP / 124 DOM

Coronado Foothills Estates
6 for sale $750,000 to $1,475,000
3 in contract $700,000 to $900,000

2021 - 20 sold / $767,500 MSP / 5 DOM
2020 - 26 sold / $615,000 MSP /12 DOM
2019 - 14 sold / $543,000 MSP / 65 DOM

Cimarron 
2 for sale $749,000 & $1,497,000
4 in contract $675,000 to $874,900

2021 - 18 sold / $841,500 MSP / 4 DOM
2020 - 18 sold / $675,000 MSP / 22 DOM
2019 - 24 sold / $538,500 MSP / 56 DOM 

Catalina Foothills Estates 10 
1 for sale $1,500,000
0 in contract

2021 - 12 sold / $1,299,500 MSP / 12 DOM
2020 - 10 sold / $1,100,000 MSP / 71 DOM
2019 -   6 sold / $874,000    MSP / 13 DOM

 Fairfield
1 for sale $624,950
3 in contract $375,000 to $540,000

2021 - 25 sold / $672,500 MSP / 5 DOM
2020 - 23 sold / $532,500 MSP/ 11 DOM
2019 - 27 sold/ $488,000 MSP / 12 DOM

Sabino Mountain
0 for sale 
3 in contract $460,000 to $1,350,000

2021 - 19 sold / $530,000 MSP /  6 DOM
2020 - 17 sold / $425,000 MSP / 15 DOM
2019 - 19 sold / $370,000 MSP / 19 DOM

Ventana Country Club
0 for sale
3 in contract $895,000 to $1,595,000

2021 - 40 sold / $890,000 MSP / 12 DOM
2020 - 24 sold / $730,000 MSP / 18 DOM
2019 - 24 sold / $644,500 MSP / 39 DOM

  --------------------------------------------------------------------------------------------------------------------------------------------------

In October 2018 I posted a blog similar to this one which, if you're interested, may help provide further perspective on the market as it has evolved over the last few years. Notice in particular, the number of homes that were for sale back then.

That's it for now
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
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

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

in contract the last 2 weeks, 10/25 thru 11/07/2021

From Monday October 25th thru Sunday November 7th, 33 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 12/10/2021)

11 were priced from $362,500 to $540,000
16 from $600,000 to $997,500
  6 from $1,100,000 to $1,700,000

 ... another active 2 weeks for contracts across a broad range of prices is again a promising start to our upcoming winter-spring season. 

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
johnschneiders@gmail.com
520 271-4164

 

Take care, stay well

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

October Market Data for Catalina Foothills

The following  is a snapshot of real estate activity in the Catalina Foothills single family home market for October 2021.

(sold #'s updated 11/5)
62 single family homes sold at $685,000 median sold price in 7 median days on market
Lowest sale price was $380,000 / highest was $1,950,000...
Keep in mind that closed sales are a lagging indicator. Sales that took place in October are the result of deals that were made and the market as it was approximately 20 to 60 days ago - so, in this case, from August thru early October. 

86 new listings in October, listed at $717,500 median list price.
Lowest list price was $360,000 / highest was $4,000,000

83 homes went to contract in October (including 56 of the homes that were just listed in October)
median list price of the 83 in contract is $700,000 and they went to contract in 8 median days on market.

There are just 95 single family homes for sale in the Catalina Foothills (85718 & 85750) and they're priced from $386,000 to $9,995,000 which, as you might imagine, results in a very thin selection of homes in almost all price ranges and makes for a challenging time to be a home buyer.  

Check out the Market Snapshot to quickly see the number of homes for sale, in contract and recently sold in 8 price ranges.

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
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract last week, 10/18 - 10/24/2021

From Monday October 18th thru Sunday October 24th -- 27 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 11/25/21)

 8 were priced from $360,000 to $599,900
11 from $645,000 to $900,000
 8 from $1,100,000 to $3,795,000

WoW! a big week, lots of contracts and so many at big $$$$..
During the same week last year there were 17 contracts with just 1 at 1$mil+
During a similar 2 week period in 2019 there were 33 contracts over 2 weeks with just 2 at 1$mil+.

Even more so than the impressive contract numbers from the previous week this is a very auspicious start to our busy season for home sales in the Catalina Foothills. 

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
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

in contract the last 2 weeks, 10/04 - 10/17/2021

From Monday October 4th thru Sunday October 17th -- 44 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 11/19/21)

20 were priced from $405,000 to $599,995
19 from $625,000 to $975,000
 5 from $1,375,000 to $2,400,000

The beginning of October is typically the soft opening of our busy season for home sales in the Catalina Foothills. The season begins now and builds thru the fall and thru winter into spring. Ending, typically, in late May. 

The number of contracts and the broad range of prices for the recent 2 week period suggests a healthy start to our upcoming in-season.

Though, like so many things that are in short supply these days, in order to satisfy home buyers needs we need more homes listed for sale.

At this moment (10:46am, Oct. 20) there are just 99 single family homes listed for sale from around $400k up to $9million or so - which, as you might imagine, results in a very thin selection of homes in almost all price ranges.

Check out the Market Snapshot for a glimpse of the current Catalina Foothills single family home market, showing how many homes are for sale, in contract and recently sold in 8 price ranges. 

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
johnschneiders@gmail.com
520 271-4164

Take care, stay well

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

Catalina Foothills list & sold prices // 10/12/2021

The following are list and sold prices for the 31 single family homes that sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) from September 27 - October 10, 2021 thru the Tucson Association of Realtors® MLSSAZ (Multiple Listing Service of Southern Arizona)

 

Listed	Sold
$400,000	$389,000
$465,000	$450,000
$450,000	$463,000
$450,000	$465,000
$497,300	$470,000
$525,000	$515,000
$550,000	$550,500
$595,000	$590,000
$599,900	$595,000
$569,000	$600,000
$629,000	$610,500
$650,000	$635,000
$675,000	$645,000
$725,000	$670,000
$675,000	$675,000
$659,000	$695,150
$697,000	$695,500
$700,000	$715,000
$725,000	$725,000
$749,000	$739,000
$799,000	$755,000
$789,000	$840,000
$900,000	$915,000
$975,000	$925,000
$991,000	$950,000
$875,000	$964,500
$1,075,000	$1,050,000
$1,100,000	$1,050,000
$985,000	$1,100,000
$1,749,000	$1,690,000
$1,795,000	$1,795,000

 

A noticeable change (drop, that is)  from the last Listed/Sold report (posted 9/17/21) when 15 out of 20 homes (75%) went for list price or more. For this group of 31 homes 12 homes (39%) went for list price or more. 

And an even bigger change from where things were earlier this past summer.

Of course it's still a very strong buyers market, just a little less strong than it was. Also, these sold numbers are based on deals that were made 3 to 6 or more weeks ago. And therefore they are informative of what the market was then. Not necessarily what it is now.

Now what? Does the market continue to soften or will it pick up as we enter our traditionally busy fall, winter and spring market and leave behind our traditionally slower (haha) summer market.  
Stay tuned

Take care, stay well.

see TheFoothillsToday.com 
to see all the homes for sale in the Catalina Foothills

in contract last week, September 27 thru October 3, 2021

From Monday September 27th thru Sunday October 3rd, -- 14  single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 11/10/2021)

4 were priced from $475,000 to $535,000
7 from $618,000 to $899,000
3 from $1,049,000 to $1,400,000

not great, but not a bad week. though it will be hard to beat (or match) the frenzied enthusiasm of last years fall market.

Take care, stay well

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

Catalina Foothills Single Family Home Sales January thru September from 2015 to 2021

Hi,

The following charts track the number of single family homes sold, median sold prices (MSP) and days on market (DOM) in the Catalina Foothills of Tucson, AZ for the period of January 1st thru September 30th 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 the chart showing the number of homes sold for up to $999,999, which represents nearly 80% of all the homes sold in the Catalina Foothills single family home market. A market that has been fairly stable in recent years. I attribute the slight decline in sales this year to an all-time low supply of homes for sale, a predicament that began in the spring of 2020 and has worsened this year. Though, for the last few weeks the supply of homes for sale has inched UP a teeny bit... there are now 105 for sale. 
For perspective, in October of previous years there were:
Oct 2017 - 293 for sale
Oct 2018 - 287 
Oct 2019 - 272
and then Oct 2020 - 130


        -----------------------------------------------------------------------------------

Meanwhile,  sales of homes at $1,000,000+ are thru the roof and selling more quickly than ever.

Why this year after so many years of pretty-poor sales. My experience in the last few months of 2020 and so far this year is that many affluent people are moving to the Catalina Foothills from more congested cities to steer clear of covid-19 while enjoying a more relaxed lifestyle.  

          ---------------------------------------------------------------------------------

High demand and low supply have contributed to sharply rising home prices at nearly all price ranges.
The current median sold price is $690,000, that's up 24% over last year at this time and up 39% over where it was at this time in 2019.

          ----------------------------------------------------------------------------------

 

And median DOM is still a lightning fast 5 days.

              ------------------------------------------------------------------------------

I hope the market info is helpful.
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
johnschneiders@gmail.com
520 271-4164

 

Take care, stay well

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