The Catalina Foothills

in contract last week, 10/19 - 10/25/2020

From Monday October 19th thru Sunday October 25th - 17 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 11/30/2020)

10 were priced from $280,000 to $579,000
 6  from $689,000 to $859,900
 1 at $1,069,000

In recent weeks the contract numbers are down a tad from where they were, not drastically, but they are down. The question is, is this just a brief pause in the market or is the market slowing down, and if so why is it slowing. Is it because there are fewer buyers in the market or is it that there are not enough homes for sale for buyers to choose from.
Hmmm, I think it's the latter, here's why. 

134 single family homes for sale in the Catalina Foothills today
      v.
273 for sale at this time (late October) last year
293 for sale at this time in 2018
333 for sale at this time in 2017

Take care, stay well.

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

in contract last week, 10/12 - 10/18/2020

From Monday October 12th thru Sunday October 18th - 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 11/20/2020)

 7 were priced from $385,000 to $580,000
10 from $600,000 to $950,000
 1 at $1,350,000

the other day I mentioned that the reason the supply of homes is so low this year, is largely due to fewer homeowners listing their homes during this time (of covid-19). And it was not due to way more homes selling this year v. last year - and I showed the number of homes listed for sale this year v.  last year 
130 listed for sale in mid October 2020
272 listed for sale in mid October 2019

But (for some reason) I did not complete the picture by showing the number of homes sold this v. last year, so here it is;
735 homes sold this year (Jan 1 - October 18)
726 homes sold last year (Jan 1 - October 18)

And, incidentally, the small increase in sales this year is entirely due to more homes selling at $1.0mil & up -- 62 this year v. 49 last year, (Jan 1 -  October 18). 

Take care, stay well.

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

 

in contract the last 2 weeks, 9/28 - 10/11/2020

From Monday September 28th thru Sunday October 11th 45 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 11/13/2020)

23 were priced from $295,000 to $595,000
13  from $630,000 to $997,500
 9  from $1,090,000 to $2,250,000

A stellar couple a weeks for buyers and sellers at all price ranges.
This diverse group of 45 homes went to contract in just 9 median days on market. 
And 20 of them, priced from $328,000 to $2,000,000, went to contract in 0 to 4 days. 

On the flip side, homes that have been on the market for a while (let's say 90 days or more) are now finding buyers; 12 homes in this group were on for 90 days or more. And now they're gone too. 

The reason for the quick sales is simple supply and demand, the supply is low, largely due to fewer home owners wanting to list their homes during this time, while  the demand remains strong. So if you find the one you want you may have to move quickly, maybe very quickly. 

Currently, there are 130 single family homes for sale in the Catalina Foothills. That's it, 130..
In mid October 2019 there were 272 for sale
 "    "     "           2018  there were 287 for sale
 "    "     "           2017 there were  293 for sale

And the low number of listings is not because of way high sales this year, no. Sales this year are about the same as last year. It's due to too few homes  getting listed for sale this year.

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

Catalina Foothills Home Sales Jan 1 - Sept 30, 2005 - 2020

The following charts track the number of single family homes sold, median sold prices and days on the market in the Catalina Foothills of Tucson, AZ for the period of January 1st thru September 30th of each year from 2005 to this year, 2020. 

The home sales, sold price numbers and days on market are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the number of homes sold for up to $999,999 - the lions share of the Catalina Foothills market.
Sales are doing well this year, a few more sales one year and a few less the next, they've been bouncing around within a normal narrow range. 
But I believe, no, I have no doubt, that more homes would be selling this year if there were more homes for sale, more homes for buyers to choose from - the supply is very thin. How thin? 
Last year at this time there were 196 homes for sale priced from $1 to $999,999 - this year there are 73. 

 

Sales at $1,000,000 and UP are having a banner year, they're up more than 25% over last year and with more sales than any year since 2006. And they're going fast, 42 median days on market this year v. 72 in 2019 v. 144 in 2018. 

And record breaking fast sales this year for all Catalina Foothills single family homes sold - just 23 median DOM

Bingo! Sold prices this year are now, finally, higher than in 2006 - and up 14% over last year - that's huge. 

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

in contract the last 2 weeks, 9/14 - 9/27/2020

From Monday September 14 thru Sunday September 27th 51 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires on 11/1/2020)  

30 were priced from $309,500 to $589,000
16  from $649,000 to $985,000
 5 from $1,095,000 to $1,750,000

30 of the them, priced from $309,500 to $1,750,000 went to contract in from 0 to 8 days on market. And overall, all 51 homes went to contract in 6 (six) median days on market. That's quick.

Is it any surprise that they're flying off the shelf?  No, not really, there are buyers out there and currently only 136 single family homes for sale to choose from in the Catalina Foothills. And with 51 going to contract in just 2 weeks that's 37% of the total # homes for sale under contract and off the market in just 2 weeks. Now of course the shelf is being restocked every day with new listings but the number of contracts v. # of new listings has for the last few months kept the number of homes for sale down at around 150 or less. 

Take care, stay well. 

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

in contract the last 2 weeks, August 31st - September 13th, 2020

From Monday August 31st thru Sunday September 13th 37 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 10/19/20)

27 are priced from $279,900 to $595,000
 8 from $685,000 to $999,995
 2 at $1,400,000 & $1,425,000

4 other homes went to contract during those 2 weeks but they have since fallen out. At times like this, when the supply of homes is low and the demand is high, one of the unfortunate results is that buyers sometimes rush to put homes in contract before they've had time to carefully consider their choices and decisions.  And some of those hasty decisions result in buyers canceling their contract once they've had time to look things over more carefully. It's the market we're in. 

Take care, Stay well

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

Faster and for More $$$ - Catalina Foothills Home Sales Jan 1 thru August 31st 2020

The following charts track the number of single family homes sold, median sold prices and days on the market in the Catalina Foothills of Tucson, AZ for the period of January 1st thru August 31st of each year from 2005 to this year, 2020. 

The home sales, sold price numbers and days on market are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the # of homes sold for up to $999,999, which represents about 92% of the Catalina Foothills Single Family Home Market. No significant increase or decrease in sales, pretty much on par with the last few years.

Next up is the # of homes sold for $1,000,000 and UP - so far, more sold this year than any year since 2007. 
And the $1.0mil+ market is still going strong, there are 17 homes listed at $1,000,000 and UP in contract. 

Breaking all records, single family homes at all prices are selling faster this year than at any time in the last 15 years  - faster even than during the real estate boom of 2004 - 2006. 



And median sold prices are up %12.5 over last year -
and at $557,000 they are within a hairs breadth of the all time high of $560,000 in 2006.

The only thing this market is lacking is more listings, more homes for sale. 
For a closer look at the Foothills market, broken down into 8 price ranges, check out the Market Snapshot, 

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

in contract last week, August 24th - August 30th, 2020

From Monday August 24th thru Sunday August 30th - 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ
Worth noting, 23 homes went to contract that week, but 5 of them fell out - I don't include homes that go to contract and fall out before I post the numbers - not sure what caused it but 5 homes falling out of contract in 1 week is more than usual.

 9 were priced $365,000 to $555,000
 7 from $649,000 to $858,000
 2 at $1,050,000 & $1,295,000

Stay well, Take care,

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

in contract the last 2 weeks, August 10th - August 23rd, 2020

From Monday August 10th thru Sunday August 23rd - 42 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/24/2020)

22 were priced from $325,000 to $599,999
16 from $600,000 to $997,500
 4 from $1,099,000 to $2,100,000

Take care, stay well.
 
see TheFoothillsToday.com 
to find your very own Catalina Foothills Home

the Catalina Foothills real estate market then & now

Lately I've been going on about the very low supply of homes for sale coupled with the still strong demand - still being, in this difficult time. And also for this time of year (summer is usually our slowest time).  So I thought it might be helpful and add some perspective to look back at how the numbers for this summer compare with summers from past years.

And because it captures a  moment in time I thought the Market Snapshot would be a good way to do it. I started posting the Market Snapshot in 2013 and I save each one as screen shot so that  I can look back and see exactly what the market was doing during almost any month and year from 2013 to now.

The following screen shots are of the Market Snapshots that I posted on the date noted in the upper left corner of each screen shot. Also, prior to this year the Market Snapshot included 5 price ranges, and starting this year I upped it to 8 price ranges - hence August 2020 is more detailed that the others. 

Across the board the MOI (months of inventory) is startlingly low this year --- (6 MOI is considered a normal, balanced market. Much less than that and it veers into a sellers market - whereas, with much more it becomes a buyers market) ---  at 1 to 2 MOI we are in a red hot sellers market. In August ...no less.

Why?, not because so many more homes are selling this year, nope, they are not. They're selling faster and for more $$$ but  just about the same number of homes are selling this year as sold in 2019, 2018 and 2017 - the issue is there are many fewer homes listed for sale this year. YTD 568 sold this year, 576 sold 2019, 564 sold 2018, 582 sold 2017,

Why so many fewer listings ... well, I can't answer that absolutely. But I think it's a pretty good guess that many would-be sellers are not listing because they don't want strangers walking through their homes at this difficult time. And, also, if their foothills home is a second home and their primary residence is in a more crowded and congested place they may be thinking about trading places and making Tucson their primary residence.  

And away we go, Market Snapshot data from past August/Septembers

 

Take care, stay well.

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

in contract last week, 8/3 - 8/9/2020

From Monday August 3rd thru Sunday August 9th - 27 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/13/2020)

11 were priced from $270,000 to $579,000
11 from $600,000 to $899,900
 and get this, 5 from $1,095,000 to $1,999,000 

an extraordinary number of  $$million++ contracts for any time of the year, but unheard of for August
and all 27 went to contract very fast - just 16 MDOM - median days on the market 

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

they're selling faster and for more $$$ - Catalina Foothills home sales this year

The following charts track the number of single family homes sold, median sold prices and days on the market in the Catalina Foothills of Tucson, AZ for the period of January 1st thru July 31st of each year from 2005 to this year, 2020. 

The home sales, sold price numbers and days on market are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the # of homes sold for up to $999,999, which represents about 93% of the Catalina Foothills Single Family Home Market. No real increase or decrease, pretty much on par with the last few years.

Next up is the # of homes sold for $1,000,000 and UP - same thing, more or less holding its own with recent years. 

Days on the Market -
they're selling faster this year than at any time during the last 15 years. 
The chart is based on median days on market from Jan 1 - July 31 of each year. 

And finally median sold prices of single family homes sold in the Catalina Foothills, with a big jump this year - UP 11.6% over last year and UP 45% since hitting bottom in 2012.

If you have a question or would like my help navigating the Catalina Foothills real estate market, I look forward to hearing from you.

Take care, stay well.

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

in contract last week, 7/27 - 8/02/2020

From Monday July 27th thru Sunday August 2nd - 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 9/3/2020)

 
8 were priced from $314,000 to $599,900
7 from $614,000 to $885,000
3 at $1,495,000 and another $1,495,000 & a biggie at $3,495,000

If this keeps up the $$million+ market may finally pull out of its slump this year, imagine, this year, of all years...

this slump


Take care, stay well.

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

in contract last week, 7/20 - 7/26/2020

From Monday July 20th thru Sunday July 26th - 15 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 8/28/20)

5 were priced from $375,000 to $599,000
8 from $625,000 to $909,000
2 at $1,150,000 & $1,325,000

this is the lowest number of weekly contracts since the week of April 20th when just 11 homes found buyers
Hmmm?

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

Catalina Foothills Home sales this year, last year and the year before

The following sales numbers are for single family homes sold in the Catalina Foothills of Tucson, AZ from January 1st thru July 20th of 2018, 2019 and good old 2020.

First up is homes that sold from $1 up to $999,999

Year	# Homes Sold	Median Sold $$	Median CDOM
2018	450	$475,000	35
2019	467	$475,000	35
2020	444	$534,750	22

Median CDOM = Median Cumulative Days On Market

Sales this year are down just -5% from last year - did anyone expect sales to hold up that well - I sure didn't.
And, even more unexpected, prices are UP 12.5%, and no one I know claims to have seen that coming either.
Other than this years big jump in sold prices and drop in days on market it is also remarkable (to me) that everything else is so similar, nearly the same, across the last 3 years - with all that has and is happening this year. 

And then there's the $1,000,000 & UP niche market - also holding its own thru thick and thin. 

YEAR	# Homes Sold	Median Sold $$	Median CDOM
2018	36	$1,267,000	105
2019	32	$1,324,383	55
2020	32	$1,232,500	47

Coincidentally, this morning in Bloomberg I saw the following chart showing declining sales in various locales around the world.

Take care, stay well.

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

in contract last week, 7/13 - 7/19/2020

From Monday July 13th thru Sunday July 19th - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 8/19/2020)

10 were priced from $399,900 to $598,000
  9 from $620,000 to $825,000
  3 from $1,495,000 to $1,925,000

Wow, not bad for the middle of July ...

Take care, stay well.

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

 

in contract last week, July 6th - July 12th, 2020

From Monday July 6th thru Sunday July 12th - 20 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires  8/13/20)

10 were priced from $348,000 to $530,000
  8   from $665,000 to $992,000
  2   at $1,200,00 & $1,395,000

Fewer contracts than in recent weeks, so hang in and we'll see where that goes, 

Take care, stay well.

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

in contract the last 2 weeks, June 22nd - July 5th, 2020

From Monday June 22nd thru Sunday July 5th - 54 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 8/07/2020)

29 were priced from $310,000 to $599,000
18 from $620,000 to $999,000
7 from $1,099,000 to $3,500,000

YIKES, what a haul for the middle of summer in the middle of everything ...
If this keeps up the $million+ market may finally pull out of its 10 year slump.

And how prescient of Realtor.com, who last December predicted that in 2020 Tucson would be one of the 10 hottest real estate markets in the entire USA.  I don't know about the other 9 contenders but, here we are.

Take care, stay well.

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

 

January - June Catalina Foothills Single Family Home Sales Numbers

The following charts track the number of single family homes sold and median sold prices in the Catalina Foothills of Tucson, AZ for the period of January 1st thru June 30th of each year from 2005 to this year, 2020. 

The home sales and sold price numbers are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is sales up to $999,999, which represents the lion's share, about 93%, of the Catalina Foothills Single Family Home Market.
We're not breaking any records this year, not for home sales anyway. But, hey, considering the situation here on the ground I think sales have done exceedingly well - because, come hell or high water, people want to be here..

Sales at $1,000,000, well, they're holding their own, even if 'their own' is somewhat less than it used to be.  

The star of the show is sold prices.
After years of a long, slow climb topped off by a nearly a 13% jump this year (of all years) sold prices are finally within 2% of where they were in 2006.


If you have a question or would like my help, I look forward to hearing from you.

Take care, stay well, and have Happy 4th. 

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

June sales slip as sold prices rise

Here's a look at key sales numbers for single family homes sold in the Catalina Foothills Tucson, AZ, this June 2020 v. last June 2019.  June 2020, the most troubling and tumultuous June in memory ....

	June 2019	June 2020	+/- v. 2019
# of Homes Sold	100	73	-27%
Median Sold Price	$508,500	$580,000	+14%
Median DOM	34	22	-35%

 

 

 

 

 

 

 

Even with all the tough stuff that occurred in June the sold numbers are still OK.
But keep in mind that most of the homes that sold in June are trading on deals that were made in May or April. And while the median sold price looks awfully nice - wow! way up there, even higher (by $20k) than it was in June 2006, our tiptop peak year for sold prices - it's just one month (30 days), not bad but not long enough to reset the bar on sold prices. Though, they are up this year...

And if I can pull it together today I will gather the YTD sales numbers and post them along with the usual charts, etc., hopefully? by end of the day today. Ha!

Take care, stay well.

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

 

in contract last week, June 15th - June 21st, 2020

From Monday June 15th thru Sunday June 21st - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 7/27/20)

10 were priced from $295,000 to $495,000
 7 from $615,000 to $925,000
 2 at $1,300,000 & $1,750,000

that's 19 contracts in the middle of June and with everything that's going on, and 7 of them were new listings that went to contract in 7 days or less.

And listings are at an all-time low, with just 185 homes listed for sale today - last year at this time there were 275 homes listed.  Strong demand, low supply ....

Take care, stay well

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

Thru June 21st Single family home sales in the Catalina Foothills are down 8% from last year. 

Not terrible, considering .... though as recently as mid May sales this year were up over last year - not hugely, but they were up.

And with the large number of contracts in May  it looked like, and I was anticipating, that June sales would be higher - though we still have 9 days to go so maybe a lot of those May contracts are closing in late June, or early July. We'll soon see. 

Take care, stay well

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

in contract last week, June 8th - June 14th, 2020

From Monday June 8th thru Sunday June 14th - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 7/18/2020)

10 were priced from $300,000 to $550,000
11 were priced from $675,000 to $949,000
 1 at $2,795,000

Another week of very strong contract activity for Catalina Foothills homes. And because it's June (which normally is not a blockbuster month for contracts) and with all that's going on in the world, in Arizona and in our own backyards, the market continues to exceed my expectations and that of a number of others.  

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

in contract last week, June 1st - June 7th, 2020

From Monday June 1st thru Sunday June 7th - 23 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 7/13/2020)

11 were priced from $310,000 to $599,000
11  from $600,000 to $899,000
  1 at $1,400,765

Like the week before, 11 of the homes that went to contract last week - priced from $310,000 to $1,400,765 - were brand new listings that were listed last week, and on the market just 1 to 6 days before going to contract. 

It was also the week the fire started in the Catalina's, on Friday June 5. I was up there this morning and, at least on this side of the Catalina's, it looks like the fire is completely out. And there were no signs of fire personnel or equipment. A big thank you to everyone who contributed to getting it done. 

Take care, stay well.

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

Catalina Foothills Homes Sales and Sold Prices January - May / 2005 - 2020

The following charts track the number of single family homes sold and median sold prices in the Catalina Foothills of Tucson, AZ for the period of January 1st thru May 31st of each year from 2005 to this year, 2020. 

The home sales and sold price numbers are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

As I have mentioned before, this year started off with a Bang, with many homes going to contract, that is, until mid-March thru April, when everything changed and contract activity dried up and shrank. And with fewer contracts from March and April we end up with fewer sales in May. Yet, while sales were down in May contract activity perked up and steadily increased and will be reflected in  higher sales for June. 
Bottom line, sales this year (322 sold) are down a tad from same period 2019 (331 sold) and 2018 (342 sold) and 2017 (352 sold).
So, even with all that's been going on, home sales in the Catalina Foothills held up pretty OK

Have a look;  
First up is sales up to $999,999, which represents about 93% of the Catalina Foothills Single Family Home Market.

 

And the $$million+ market, hanging in there, but, after all these years, still no big gains.Though, by now, I should probably realize and accept that this is it, the not-so-new-normal for this market. 

And, most unexpected, median sold prices shot up and are now, finally, within
$20k (96.5%) of their all time high in 2006.

Take care, stay well.

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

 

in contract last week, 5/25 - 5/31/2020

We have very quickly moved from a market that was sputtering from slow to slower to one where homes are now flying off the shelf.

Of the 27 homes listed for sale last week, 13 of them, priced from $244,500 to $1,125,000,  went to contract before the week was out - actually, all 13 went to contract in 3 days or less. 

In addition to the 13 new listings that went to contract, another 13 homes that were already on the market also went to contract last week. Median days on market for all 26 contracts was very quick 16 DOM. 
So 26  homes to contract last week in the Catalina Foothills of Tucson, AZ
(link expires 7/4/2020)

15 were priced from $244,500 to $595,000
 9 from $640,000 to $895,000
 2 at $1,125,00 & $1,500,000

Check out the Market Snapshot figures, with varying degrees of low MOI (months of inventory) it is apparent that up to about $1,250,000 we are deep into a sellers market. And even at $1.5  and up the inventory is leaner and the resultant MOI is lower than I can ever recall. 

 

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

it looks like a turnaround for Catalina Foothills home sales

We started off the year with a BANG, right off the bat a lot of homes went to contract in January - a month when buyers usually take their time looking around, kicking a few tires and trying to get a feel for what's what. But not this January, this January they jumped right in.

And then, uncharacteristically, the numbers started to slip in February, rather than go up. And that pattern continued, down, down until May, when suddenly the contract numbers shot way up. So far up that there are the same number of contracts in May as there are from March and April combined. 

A pretty quick turnaround. Let's hope it lasts.

 

Take care, stay well.

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

 

in contract last week, 5/18 - 5/24/2020

From Monday May 18th thru Sunday May 24th - 26 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 6/26/2020)

17 were priced from $195,000 to $575,000
 7 from $639,900 to $969,900
 2 at $1,095,000 & $1,345,000

This is now the 4th week in a row that our Catalina Foothills single family home market has risen from the depths it sunk to in late March into April.

For 3 weeks in a row in late March/April the number of contracts sunk to 11 contracts/week. And then for the following  3 weeks contracts jumped to 19 to 21 contracts/week. And now, last week, we're up to 26 contracts. Which puts the market in normal activity range for this time of year. Fingers crossed.

Take care, stay well.

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

 

in contract last week, 5/11 - 5/17/2020

From Monday May 11th thru Sunday May 17th - 21 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 6/20/2020)

11 were priced from $325,000 to $565,000
10 from $600,000 to $975,000
 and nothing with 7 figures

This is now the 3rd week in a row that our Catalina Foothills single family home market has risen from the depths it sunk to from late March into April.

For 4 weeks in a row in late March/April the number of contracts sunk to 11 contracts/week. And now, for the last 3 weeks, we're getting 19 to 21 contracts/week. 
Normally for this time of year we expect to get somewhere around 24 - 29 or more contracts/week. Is this a recovery in motion, are we getting back on track, already? Is it pent up demand? Sure, why not, we'll see. Whatever it is let's hope it continues and grows.

I did not see this coming this soon. 

 And even though it's only Thursday May 21st at 11am (just 3 days and a few hours into this week) I couldn't wait,  I had to take a look at this weeks contract numbers  - and it looks like we're in for another good week. Why? Since Monday, May 18th, 14 homes have gone to contract and we still have 3 1/2 more days to go. Hang in there.

Take care, stay well.

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

 

Catalina Foothills Home Sales during what has been, so far, the brunt of the Coronavirus

It ain't over but even with the coronavirus more homes sold this year (243 sold) than during the same period last year (219 sold). Though, if the virus hadn't hit, we were on track to have the busiest year since 2005, which was huge. See post of home sales for Jan - Feb 2018, 2019, 2020

 Take care, stay well. 

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

 

 

in contract last week, 5/4 - 5/10/2020

From Monday May 4th thru Sunday May 10th  -- 20 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 6/13/2020)  

11 were priced from $300,000 to $585,000
 9 from $620,000 to $975,000
and that's it.

A pretty good haul considering ...

Take care. Stay well.

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

on the bright side

As reported by Forbes, Moody's Analytics ranks Tucson as one of the 10 US cities positioned to have the best coronavirus recovery. 

Read all about it,

Laura Begley Bloom  Senior Contributor

ForbesWomen

Ranked: The 10 US Cities Best Positioned To Recover From Coronavirus (And The 10 Worst)

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

in contract last week, 4/27 - 5/3/2020

From Monday April 27th thru Sunday May 3rd  -- 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ  
(link expires 6/9/2020)

 
10 were priced from $378,500 to $599,000 
 8 were from $625,000 to $959,000
 1 at $1,200,000

Finally, a break from a 4 week run, that started March 30th, of just 11 contracts each week. So not only was that a big drop in the number of contracts/week, it was also such a coincidence to get exactly 11 contracts each week, for 4 weeks in a row.. 

19 contracts is still on the low side for this time of year but a big improvement from 11. 

Take care, stay well. 

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

 

Catalina Foothills Single Family Home Sales from Jan 1 to April 30, 2005 - 2020

The following charts track the number of single family homes sold and median sold prices in the Catalina Foothills of Tucson, AZ for the period of January 1st thru April 30th of each year from 2005 to this year, 2020. 

The home sales and sold price numbers are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

The charts clearly show that the real estate market priced up to about $1,000,000 in the Catalina Foothills was doing quite well. While sales over $1,000,000 have seen some slight improvement they continue to disappoint. 

I say 'was doing well' because the market has slowed considerably, with fewer contracts each week since the middle of March  - which will, increasingly, translate into fewer sales. Most of the sales that took place in this 4 month period are the result of deals that were made before mid March, before the virus really hit home here in Tucson. 

And eventually sold prices are bound to take a hit though it may (and I think it will) be more due to  fewer upper-end discretionary purchases than it is to actual falling home prices. At least at first. 

First up is sales up to $999,999, which represents about 93% of the Catalina Foothills Single Family Home Market.
And it was doing nicely.  

a very different story though, and it has been for years, at $1,000,000+, where the market is the most vulnerable.

and sold prices are up a whopping 14% from the same period last year. 
But thru the end of March they were up a more-whopping 16% over the same
period last year. 

we are just beginning to witness the damage the coronavirus is going to wreak on our real estate market. Where we go from here, I won't even guess, we will have to wait and see. Weekly contracts are where it's at in gauging the current market and predicting what sales will look like in the weeks ahead. 

Take care, stay home, stay well. 

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

in contract last week 4/20 - 4/26/2020

From Monday April 20th thru Sunday April 26th -- 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 5/31/2020)

4 were priced from $385,000 to $575,000
7 from $606,000 to $929,000
and that's it! nothing with 7 figures. 

About half as many (or less) contracts than is usual for this time of year but at least we're consistent, this is the 4th week in a row with 11 contracts each week. 

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

in contract last week, 4/13 - 4/19/2020

From Monday April 13th thru Sunday April 19th -- 11 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 5/21/2020)

8 were listed from $285,000 to $564,000
2 at $662,000 & $929,000
1 at $1,099,000

Skimpy, though par for the course for this ugly time we're in ..., but hey, buyers are still buying and many homes are going to contract quickly, median Days On Market for these latest contracts is 15 DOM. 

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

 

in contract the last 2 weeks, March 30th - April 12th, 2020

From Monday March 23rd thru Sunday March 29th -- 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 5/14/2020)

17 were priced from $313,500 to $590,000
 4 from $695,000 to $995,000
and that's it, bottom heavy and nothing with 7 figures...

 

Now that we are in the thick of it' (it' being coronavirus) contracts for homes in the Catalina Foothills are down by more than 50% from what we normally expect at this time of year. 

Take care, stay home, stay well. 

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

and now for some good news

Home sales so far this year in the Catalina Foothills have been exceptionally strong. 
Sales are UP, sale prices are UP and days on market are down.

Here's a look at single family home sales for January - March for each of the following years. 

2018 
191 homes sold ---- @$465,000 median sold price ---- in 37 median days on market

2019
184 homes sold --- @$475,000 median sold price --- in 56 median days on market

2020
217 homes sold --- @$550,000 median sold price --- in 29 median days on market

That is an 18% increase in the # of homes sold, a 16% increase in sold prices and a 48% drop in days on market. 
WOW!

Yeah but ...  keep in mind that a typical escrow is between about 25 to 45 days from contract to closing. So most of the deals for the 217 homes sold in this 1st Qtr. were made starting from sometime in December, or maybe even November, of 2019 up until about 30 days ago, so around early March.

And, sadly and unfortunately, things have changed drastically since then and it's a pretty sure bet that 2nd Qtr. sales will not look so rosy. But hopefully by then the virus and it's path of destruction will have been beaten back and life around the world will be returning to a safer and more normal state for everyone. 

Take care, stay home, stay well. 

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

 

in contract last week, March 23rd - March 29th, 2020

From Monday March 23rd thru Sunday March 29th -- 17 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 5/2/2020)

6 were priced from $250,000 to $534,000
9 from $600,000 to $785,000
1 each at $1,175,000 & $1,199,000

Not bad, considering ...

Take care, stay well & stay home

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

in contract last week, March 16th - March 22nd, 2020

From Monday March 9th thru Sunday March 15th --- 18 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 4/24/2020)

10 were listed from $300,000 to $575,000
 6  from $615,000 to $975,000
 1  each at $1,100,000 & $1,750,000

A week in the middle of March with contracts for Foothills homes in all price ranges, but also with a noticeable drop in the number of overall contracts from previous weeks - down 25% from the week before last. 

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

in contract last week, March 9 - March 15, 2020

From Monday March 9th thru Sunday March 15th --- 24 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 4/17/2020)

11 were priced from $399,900 to $599,000
12 from $600,000 to $935,000
 1 at $1,050,000

Very pleased to see that homes in the Catalina Foothills continue going to contract at a good clip.

Take care, stay well. 

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

Catalina Foothills Single Family Home Sales January 1st thru February 29th, 2020

Usually, at this time of year when we look at the sales numbers for the first couple a months it helps us get a feel for how the next few months, the big spring market months, are going to go. But with the virus numbers now rapidly ramping up as the stock market plunges to new depths we are now in a new and different reality - one that we have not experienced before. Therefore these sales numbers for Jan/Feb may be just that, a snapshot of the way it was in Jan/Feb rather than a window to what homes sales will look like over the next few months. 

In any case, here they are;
single family home sales numbers for January 1st thru February 29th for each of the following years;

2018 
116 homes sold --- @ $487,500 median sold price ---  in 40 median days on market

2019 
97 homes sold --- @ $495,000 median sold price ---  in 71 median days on market

2020
130 homes sold --- @ $550,000 median sold price --- in 31 median days on market
(link expires 4/14/2020)

There you have it, with more homes sold and sold more quickly and for higher prices, 2020 was shaping up to be an exceptional year for home sales in the Catalina Foothills. 

What happens next, I have no idea. We will have to wait and see.

Take care, stay well.

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

 

in contract last week, March 2 - March 8, 2020

the week the stock market continued to plunge
From Monday March 2nd thru Sunday March 8th --- 25 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 4/08/2020)

14 were priced from $225,000 to $595,000
11  from $615,000 to $994,000  
and that's it, nothing with 7 figures

Still, other than nothing at $1mil+, contracts for the first week of March were robust, seemingly unfazed by the stock market plunge. 

But after today, Dow −2,013.76 (7.79%) to 23,851.02, I expect that a number of discretionary home purchases are going to be put on hold. 

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

in contract the last 2 weeks, Feb 17 - March 1, 2020

In the interest of trying to get a handle on how the virus and resulting stock market plunge may have affected real estate contract activity here in the foothills let's look at the two weeks separately. 

During the first week, the week before the market plunged, Monday Feb 17 - Sunday Feb 23, 2020 -- 28 single family homes went to contract - (there were 32 in contract but 4 of them fell out, 3 of them during the following week when the market plunged)     (link expires 4/02/2020)

14 were priced from $224,900 to $595,000
12 from $615,000 to $990,000
2 from $1,295,000 to $1,595,000

No doubt, a strong week for contracts. 

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

During the second week, the week the market plunged, Monday Feb 24 - Sunday March 1, 2020 -- 24 single family homes went to contract - (there was 1 more in contract but it fell out yesterday)    (link expires 4/02/2020)

10 were priced from $383,500 to $595,000
13 from $615,000 to $969,000
 1 at $1,250,000

So, a few less contracts but by no means a wholesale bailing out of the market, not hardly. And with 53 homes going to contract, the last 2 weeks compare favorably with the prior two weeks, Feb 3 - Feb 16, when I noted what a very healthy market it was with 56 homes going to contract. 

However, that's just for now, the foothills markets immediate reaction. One way or another there's more to come. 

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

 

in contract the last 2 weeks, Feb 3 - Feb 16, 2020

From Monday February 3rd thru Sunday February 16th --- 56 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 3/21/2020)

31 were priced from $309,900 to $590,000
19 from $620,000 to $949,000
 6 from $1,095,000 to $1,495,000

- a very healthy haul with a wide price range of homes going to contract, and they went quickly too, in just 27 median days on the market

- during the same period last year 33 homes went to contract - that's 41% less than this year

PS; 5 other homes also went to contract in the last 2 weeks but for one reason or another they fell out of contract. And I suspect that one of the reasons they fell out may be that buyers are finding that they have to act quickly, sometimes too quickly, with little or no time to 'sleep on it', if they hope to put a house in contract before someone else beats them to it. 

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

 

so far this year ...

... see how this years Catalina Foothills single family home market is outperforming recent years, by a bunch;

Following are the Catalina Foothills top line single family home sales numbers for January 1st thru February 14th for each of the following years;

2018 
68 homes sold --- @ $508,00 median sold price ---  in 48 median days on market

2019 
70 homes sold --- @ $502,500 median sold price ---  in 68 median days on market

2020
89 homes sold --- @ $570,000 median sold price --- in 32 median days on market. (updated 2/19/20 & again on 2/24/20)

So far in 2020 more homes have sold and they sold at much higher prices and in many fewer days on market - than in 2018 & 19.
And 2018 & 19 were not slouchy years either.  However, keep in mind these numbers reflect sales for only 6 weeks - so while they are encouraging we will have to wait and see how the market does in the next couple months. 

 

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

in contract last week, 1/27 - 02/02/2020

From Monday January 27th thru Sunday February 2nd --- 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 3/10/2020)

14 were priced from $325,000 to $549,900
 5 from $630,000 to $949,000
and that's it! a rare week with no contracts at $$$million+

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

 

 

in contract last week, Jan 20 - Jan 26, 2020

From Monday January 20th thru Sunday January 26th --- 28 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 2/29/2020)

19 are priced from $349,000 to $599,000
  7 from $629,000 to $975,000 
  2  at $1,065,000 & $1,500,000

A bountiful catch and further evidence the Catalina Foothills real estate market is hot. 

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

in contract from Jan 1, 2020 - Jan 19, 2020

From Wednesday January 1st thru Sunday January 19th ---- 57 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 2/19/2020)

29 were priced from $230,000 to $599,000
21 from $625,000 to $950,000
 7 from $1,100,000 to $2,650,000 

This is a very healthy start to the 2020 market year, very. Usually it's kinda quiet at this time of year - with buyers taking their time, moseying around doing more tire kicking than actual buying. But this year there's an urgency to buy that I have not seen since the glory days of 2004 - 2005 - 22 of the homes that went to contract, including a couple at $1,000,000+, went  in 10 days or less, and 21 of them in 6 days or less, and 7 went to contract in 1 ONE day or less - and the 7 weren't all low priced homes, they were  listed at $725k, $950k, $950k, $665k, $595k, $599k and $1,695,000. 

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

Yearly Catalina Foothills Home Sales and Sold Prices / 2004 thru 2019

Happy 2020!

The following charts track the number of single family homes sold and median sold prices in the Catalina Foothills of Tucson, AZ for each year from 2004 thru 2019.
The home sales and sold price numbers are based on sales thru the Tucson Association of Realtors® Multiple Listing Service and represent all the homes sold by all Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

The charts below clearly show that the real estate market that is priced up to about $1,000,000 in the Catalina Foothills is doing well and continues to improve. Sales at over $1,000,000 have also improved but more cautiously and more slowly.

First up is the number of single family homes sold for up to $999,999 - a  market that represents 93% of all the homes sold in the Catalina Foothills and a market that has improved in 9 of the last 11 years.  

On the other hand, though it has improved incrementally in the last few years, the performance of the $1,000,000+ market pales by comparison. 

 

And Median Sold Prices, they're UP UP UP over every year since 2008  

 

And, perhaps with more to come, Realtor.com predicts that Tucson will be the 3rd Hottest real estate market in the entire USA in 2020. 

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