The Catalina Foothills

in contract last week, 9/16 - 9/22/2019

From Monday September 16th thru Sunday September 22nd - 16 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 10/27/2019)

13 were priced from $340,000 to $579,999
  3 from $800,000 to $925,000

And that's it!

Now that the weather has finally cooled it will be interesting to see where our market goes, up, down, sideways. Who knows. 
Stand by, we'll soon see and we'll be reporting it here. 

Tidbit - from June 1st thru August 31st more homes sold this summer than in any other summer for the last 13 years.
263 homes sold this summer, the last time more sold was when 306 homes sold in 2005. The low was 2008 with 146 sold. 

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

What'll it be, 85718 or 85750

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

That's 85718 below, on the west side of Craycroft Rd

And on the east side of Craycroft is 85750

Size-wise the 2 zips are quite similar but there are also quite a few differences. 

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

85718 is more developed, with more plazas, restaurants, bars, boutiques, shopping and, dare I say, more pizzazz.  And it’s closer to downtown and to the University of Arizona. And if you’re looking for an older adobe home or a Joesler, you are, with very few exceptions, talking about 85718. Because 718 is where John Murphey and Josias Joseler first established the Catalina Foothills Estates, the very first development in the 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 also has its charms. With its main shopping, restaurant and retail plaza at one location, at Kolb & Sunrise, it’s less developed, less busy with fewer cars on the road and a quieter atmosphere than 718. It also has the fantastic Sabino Canyon in its backyard. 

And beyond that there are also price differences between the two zips, with more higher priced homes in 85718. And, in general, you can get a bit more house for your money in 85750.

The following stats are for single family homes sold from January 1st 2019 thru today September 22, 2019. 

	85750	85718
# of Homes Sold	342	323
DOM  (Days on Market)	27	40
Median Sold Price	$450,000	$548,868
$/sf Sold Price	$179	$201
Total $$ Value of homes Sold	$177,162,564	$205,880,236
Median Sq Footage of Homes Sold	2,568 sf	2808 sf
# of homes sold at various price ranges	85750	85718
$0 - $299,999	33	7
$300,000 - $499,999	172	129
$500,000 - $749,999	91	116
$750,000 - $999,999	35	37
$1,000,000 & UP	11	34

As always, I look forward to your comments, questions and suggestions. 

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

in contract in Catalina Foothills last week, 9/9 - 9/15/2019

From Monday September 9th thru Sunday September 15th - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 10/20/2019)

8 were priced from $279,000 to $599,900
4 from $730,000 to $995,000
1 at $1,299,000

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

in contract last week, 9/02 - 9/08/2019

From Monday September 2nd thru Sunday September 8th - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 10/14/19)

12 were priced from $379,000 to $569,000
  6 from $625,000 to $849,000
  1 at $1,199,000

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

Single Family Home Sales and Sold Prices in the Catalina Foothills of Tucson, AZ

The following charts show the number single family homes sold and sold prices in the Catalina Foothills of Tucson, AZ during the first 8 months of 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)

First up is the number of single family homes sold for up to $999,999 - with almost 94% of all the homes sold
in the foothills this price range is by far the bulk of the foothills market 

The market up to $999,999 is doing well.


And while the same can't be said for the market at $1,000,000 & UP, and so far this year sales are down, 
there has been some improvement in recent years from the dreadfully low lows of 2009 - 2015.
PS, sales at $1,000,000 & Up are just a tad over 6% of the foothills market. 

And median sold prices, which have risen slowly since hitting bottom in 2012 (at $387,000),
have been holding steady (at $495,000) since last year. 
Yet they are still 11% below where they were in 2006 - $560,000 then / $495,000 now. 

That's it, from where the market was to where it is today. 

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

in contract the last 2 weeks, 8/19 - 9/01/2019

From Monday August 19th thru Sunday September 1st - 32 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 10/4/2019)

23 were priced from $280,000 to $595,000
 8 from $620,000 to $999,900
 1 at $1,549,000

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

 

13 years later and we’re still not there yet

Overall, median sold prices in the Catalina Foothills market peaked in 2006 at $570,000 and bottomed out in 2012 at $380,000 - a 33% drop.  And now, thru July of 2019, median sold prices are at $495,000 - UP 30% from 2012, but still 13% below where they were 13 years ago. 

But the foothills market is large and varied and prices in individual subdivisions perform differently, often wildly different, from the overall market. See for yourself, I've pulled the numbers for a selection of popular  Foothills subdivisions; 

As shown below, the median sold prices are for January – July of each year. 
The +/- % reflects the drop in median sold prices from 2006 to 2012 and the change, up or down, from 2012 to 2019. (click any subdivision name to see all the homes currently for sale – continuously updated)

Shadow Hills 
2006 – $646,500 
2012 – $420,000 (-35%) 
2019 – $530,000 (+26%)

Catalina Foothills Estates 1 –9 
2006 - $665,000 
2012 - 529,250 (-20%) 
2019 - $630,000 (+19%)

Catalina Foothills Estates 10 
2006 - $1,092,500
2012 - $843,500 (-23%)
2019 - $956,250 (+13%)

Sin Vacas 
2006 - $895,000 
2012 - $675,000(- 24%) 
2019 - $727,500 (+8%)

Pima Canyon 
2006 -  $2,050,000 
2012 - $1,075,000 (- 47%) 
2019 - $1,250,883 (+16%)

Cobblestone 
2006 – 0 sales 
2012 - $1,004,965 (1 sale) 
2019 - $896,250 ( -11%)

La Paloma 
2006 - $625,000 
2012 - $400,000 (- 36%) 
2019 - $425,000 (+6%)

Hacienda del Sol Est 
2006 - $1,550,000  
2012 - $800,000 (- 48%) 
2019 - $850,000 (+6%) - 1 sale

Pinnacle Ridge 
2006 - $1,005,000  
2012 - $651,000 (- 35%) 
2019 - $710,000 (+ 9%)

Skyline CC Estates 
2006 - $1,082,500 
2012 - $641,000 (- 41%) 
2019 - $625,000 (-2.5%)

Skyline Bel Air 
2006 - $597,250 
2012 - $350,000 (- 41%) 
2019 - $548,868 (+57%)

Cimarron 
2006 - $745,000 
2012 - $478,000 (-36%) 
2019 - $567,000 (+18%)

Fairfield/Sunrise 
2006 - $543,750 
2012 - $335,000 (- 38%) 
2019 - $497,500 (+48%)

Ventana CC 
2006 - $1,036,250 
2012 - $425,000 (- 59%) 
2019 - $665,000 (+56%)

Sabino Mountain 
2006 - $914,250 
2012 - $268,400 (-70%) 
2018 - $403,750 (+ 50%)

Every subdivision took a hit – some bigger than others. And though prices in a few are getting pretty close to where they were in 2006, it's just a few that are. And while overall foothills median sold prices have improved fairly steadily over the last 5 or 6 years, sold prices in individual subdivisions are more erratic, particularly subdivisions with a wide range of home values (like Ventana or Skyline CC).

CLICK HERE to see median sold prices for the same subdivisions from Jan - July 2018. 

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

in contract the last 2 weeks, 8/5 - 8/18/2019

From Monday August 5th thru Sunday August 18th - 41 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(link expires 9/25/2019)

28 were priced from $251,000 to $599,000
10 were priced from $625,000 to $999,900
  3 from $1,220,000 to $1,400,000

41 contracts at the low, middle and upper-end of the market during 2 very hot and still very dry weeks in August - usually the slowest month of the year. 

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

last July v. this July

the following is a snapshot of the July market for single family homes in the Catalina Foothills of Tucson Arizona

Criteria	July 2018	July 2019
# of homes sold at all prices	57	89
median sold price	$525,000	$497,900
median $$/sf sold price	$188	$191
days on market	77	59
$$ value of homes sold	$35,558,250	$51,150,078
# of homes sold at $1,000,000 & UP	8	4
most popular price range	$300k to $399k - 12 homes sold	$300k to $399k - 26 homes sold
least popular price range	2 each at $700 to $799k & $800 to $899k	1 home sold at $0 to $299k

56% more homes sold this July than last July and they sold in 30% fewer days on the market but they sold for 5% less than they did last July , bearing a nearly 44% increase in $$ value of homes sold this July. And this July the market for home sales at $1,000,000 & UP is down a mighty 50% from last July. 

More telling and important than just one months data, the market so far this year (Jan thru July) is doing very nicely;
single family home sales are up 5% from last year - 541 v. 515 - and the median sold price, which was $495,000 last year, is holding steady at $495,000 this year. 

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

in contract last week, July 29th - August 4th 2019

From Monday July 29th thru Sunday August 4th - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(link expires 9/11/2019)

16 were priced from $260,000 to $554,900
 3 from $660,000 to $945,000
  and that's it

A pretty typical HOT DRY summer week with a fair amount of activity in the Catalina Foothills single family home market. 

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

in contract last week, July 22nd - July 28th 2019

From Monday July 22nd thru Sunday July 28th - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(link expires 8/31/2019)

8 were priced from $355,000 to $589,000
5 from $649,000 to $900,000
and that's it,

A very different week from the one before, this one more of a typical hot summer nothing spectacular kinda slow week. 

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

in contract last week, July 15th - July 21st 2019

From Monday July 15th thru Sunday July 21st - 24 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(link expires 8/28/2019)

11 were priced from $310,000 to $595,000
11 from $620,000 to $929,000
and 2 biggies at $1,975,000 & $2,500,000

A very big week for the middle of summer. Frankly, with that many contracts from $600k to $2.5m, that would be a very good week at any time of the year. 

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

10 Big Ones in Pima Canyon

So far this year there have been 32 sales at $1,000,000 & UP in the Catalina Foothills - that's 32 homes sold from $1,022,500 to $2,110,000 throughout the Catalina Foothills. 

And get this, 10 of them sold in Pima Canyon, 10.  And nowhere else was even close. 

The next closest is Ventana Country Club  with 5 sales at $1,000,000 & UP
then Catalina Foothills Estates #10 - with 3 sales 
then Catalina Foothills Estates - 2 sales
along with Sin Vacas - 2 sales
and 2 sales in unsubdivided areas of the foothills
and then a bunch of subdivisions with 1 sale each at $1,000,000+  - Alta Vista, Catalina Ridge Estates (aka Cobblestone), La Paloma, Catalina Foothills Est #2, Pontatoc Uplands, Skyline Country Club Estates, Ventana Overlook, Village on Hacienda del Sol. 

 that's it, 32 sales at $1,000,000 & UP, with 10 big ones in Pima Canyon 

And while Pima Canyon doesn't always come out on top, more often than not it does. 
Why? Short answer - more newer upper-end homes than other Foothills communities. 

If you want to read more about the real estate market in Pima Canyon over the last 10 years or so, just enter Pima Canyon in the search box to the right and you will get a slew of my past blog posts.  

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

the very stable Catalina Foothills single family home market

With one exception, the Catalina Foothills single family home market has been very stable for the last few years - with none of the wild gyrations in sales and sold prices that we've experienced in the past. 

The one exception was a pretty big jump (not huge) in median sold prices from $452,000 in 2017 to $495,000 in 2018. An almost 10% increase in one year. But that was it, the market put the brakes on prices and so far this year (2019) median sold prices remain at $495,000. 

Jan 1 - July 20th 2017
509 single family homes sold
476 sold up to $999,999
 33 sold at $1,000,000 or more
Overall median sold price = $452,000

Jan 1 - July 20th 2018
486 single family homes sold
450 sold up to $999,999
36 sold at $1,000,000 or more
Overall median sold price = $495,000

Jan 1 - July 20th 2019
498 single family homes sold
466 sold up to $999,999
32 sold at $1,000,000 or more
Overall median sold price = (still) $495,000

For most buyers a stable market is an attractive market because there's less concern that they will be left holding the bag when sales suddenly tank and prices go along with them. (like they did in 2009 when prices dropped almost 22% in one year) Likewise, in a stable market sellers are more confident that by selling now they are not missing an imminent golden opportunity to make a bundle when prices suddenly go thru the roof next .......

That said, stable markets are also boring markets with none of the wild swings, drama and theatrics of more unpredictable times. More to the point than the theatrics are the opportunities and occasional screaming deals that pop up during unpredictable times. Though for every screaming deal that's made there's usually someone else on the other end who's losing their shirt. In real estate, I'll take stable, boring. 

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

in contract last week, July 8th - July 14th, 2019

From Monday July 8th thru Sunday July 14th - 24 single family homes went to contract in the Catalina Foothills of Tucson, AZ 
(link expires 8/16/2019)

17 homes were priced from $259,900 to $559,950
 4 from $689,987 to $895,000 
 3 from $1,249,000 to $2,750,000, 

WOW! another impressive week of real estate action here in the Catalina Foothills - with the lower end still (eternally) on fire while homes listed from $600,000+ into the $$millions are shrugging off the usual summer doldrums.

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

in contract last week, July 1 - July 7, 2019

From Monday July 1st thru Sunday July 7th - 19 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 8/11/2019)

13 were priced from $305,000 to $595,000
  4 from $618,000 to $695,000 
  2 at $1,000,000 and $1,675,000

Still a very decent market for the dead of summer. 

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

in contract the last 2 weeks, June 17th - June 30th 2019

From Monday June 17th thru Sunday June 30th - 39  single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 8/1/2019)

28 were priced from $258,000 to $579,500
 7 from $650,000 to $995,000
 4 from $1,179,950 to $1,675,000

The dead of summer and we're still seeing a robust market here in the Catalina Foothills, even at the high-end.  
And a special WOW! for Pima Canyon, leading the way for high-end home sales with 12 homes sold so far this year and another 5 currently in contract.

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

Catalina Foothills, Tucson, AZ, Single Family Home Sales and Sold Prices

The following charts show the number single family homes sold and sold prices in the Catalina Foothills 
during the first 6 months of each year from 2004 thru 2019.
The 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 Realtors® in the Catalina Foothills of Tucson, AZ (zips - 85718 & 85750)

First up is the number of single family homes sold for up to $999,999 - by far the bulk of the market. 
A few less sold this year than last year and even fewer than the year before but we're talking very small numbers - 11 fewer than
last year and 20 fewer than 2017.  And there's good news - sales have improved since the 1st Qtr - when sales were down 
more than twice as much as they are now. 

Meanwhile, though they have improved somewhat in the last few years, sales at $1,000,000 & UP more or less continue at the tepid pace they have maintained for the last 10 years.
At this rate home sales at $1,000,000+ command a meager 6.5% share of the single family home market in the Catalina Foothills.

Median Sold prices actually rose, but by just a hair, ($500 bucks) from the same period last year.
And we are still 13% below 2006 sold prices - $569,500 then / $495,000 now. 


That's it, all good, not great, we're not killing it but the market is solidly hanging in there. 

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

Our Fabulous New Listing in the Catalina Foothills

7148 E Cathedral Rock Pl
Tucson, AZ 85718

3741 Sq Ft, 4 Bedrooms/3 Baths, 3 Car Garage, Pool, Spa, Single Story
Extraordinary Mountain, City and Sunset Views, 
$965,000

Click HERE to See The Listing

High in the Catalina Foothills on a Large Private lot at the end of a cul-de-sac : 2 minutes from Skyline/Campbell - Short Walk to Manzanita School : Adjacent to the Giant Campbell Wash : Extraordinary Mountain, City & Sunset Views, truly Extraordinary! : An Attractive and Very Comfortable Sante Fe with Gorgeous Areas for Easy Enjoyment of Indoor-Outdoor Living : Large Kitchen Open to Spacious Family Room- both are adjacent to Large Covered Patio for All Day - All Night Recreation, Relaxation, Fun & Dining : Spacious Master Suite - Large Bedroom with Fireplace + Extra Room that could be Exercise, Office, or... + Private Bath with Mountain Views & Large Walk-in Closet : 3 Additional Bedrooms & 2 Baths : 3 Car Garage : Gorgeous Pool & Grounds: Move-in ready. 

Listed by;
John Schneider- Realtor®
johnschneiders@gmail.com
520 271-4164
Tierra Antigua Realty
Tucson, AZ 

Caroline Freedman - Realtor®
caroline@ok4u.com
520 405-1749
Tierra Antigua Realty
Tucson, AZ

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

in contract the last 4 weeks, May 20th - June 16th 2019

From Monday May 20th thru Sunday June 16th - 88 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 7/20/2019)

57 were listed from $280,000 to $599,900
24 from $625,000 to $995,000
7 from $1,199,000 to $2,500,000

There were 12 more contracts during that period but for one reason or another all 12 fell out of contract. 
Nevertheless, the figures as they are are pretty good, nothing to be ashamed of, for mid May to mid June - especially for the  upper end. 

I have been absent from these pages for the last few weeks due to a vacation followed by a very busy realestate schedule.

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

 

Catalina Foothills Home Sales - January - May 2018 - 2019

The following figures are for single family homes sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) 
for the first 5 months (January - May) of 2018 & 2019;

2018

342 homes sold from $0 to $999,999
168 sold in 85750  - 174 in 85718

all 342 sold in 32 median days on the market

29 sold at $1,000,000 & up 
10 sold in 85750 - 19 in 85718

they sold in 112 Median Days on the Market 

the median sold price for all homes sold was $488,000

2019

330 homes sold from $0 to $999,999  (down -3.5% from last year)
170 sold in 85750 - 160 in 85718

they sold in 30 median days on the market

21 homes sold at $1,000,000 & up (down -27.6% from last year)
6 sold in 85750  - 15 in 85718

yet, they also sold in 30 median days on the market 

the median sold price for all home sold is $482,000 (down  -1.2% from last year)

not much to write home about, aside from a pretty big drop in sales at $1.0mil+, 

For January thru April sales figures CLICK HERE

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

in contract the last 2 weeks, 5/6 - 5/19/2019

From Monday May 6th thru Sunday May 19th - 52 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 6/20/2019)

37 were priced from $263,000 to $599,900
11 from $600,000 to $995,000
  4 from $1,150,000 to $1,700,000

Contrary to what I said two weeks ago, contracts rose rather than dwindle. And, with this amazing May weather, why wouldn't they. 

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

in contract last week, 4/29 - 5/05/2019

From Monday April 29th thru Sunday May 5th - 21 single family homes went to contract in the Catalina Foothills of Tucson, AZ.
(link expires June 11, 2019)

16 were priced from $256,000 to $599,000
  4 from $650,000 to $997,000 
  1 at $1,270,000

And that's it.
The market is entering its normal seasonal slowdown - over the next few weeks the number of contracts will likely continue to dwindle. 

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

so far this year, home sales are down a tad from last year

The following figures are for single family homes sold in the Catalina Foothills of Tucson, AZ (85718 & 85750) 
for the first 4 months, Jan - April;

2018

260 homes sold from $0 to $999,999

17 sold from $1,000,000 & up 

they sold in 35 Median Days on the Market 

Median sold prices were $475,000

 

2019

235 homes sold from $0 to $999,999  (down 9.6%)

15 sold from $1,000,000 & up  (down 11.7%)

they sold in 43 Median Days on the market  (up 22.8%)

Median sold prices are $476,000 (up hardly at all)

For a longer term perspective check out Catalina Foothills, 1st qtr. Single Family Home Sales and Sold Prices   
- sales thru April are more or less a continuation of how sales performed thru March. 

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

in contract the last 2 weeks, 4/15 - 4/28/2019

From Monday April 15th thru Sunday April 28th - 59 single family homes went to contract in the Catalina Foothills of Tucson, AZ.
(link expires 5/29/2019)

36 were priced from $279,000 to $579,900
18 from $639,000 to $999,000
  5 from $1,125,000 to $1,995,000

An impressive 2 weeks, with contracts at all price points,

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

 

in contract last week, 4/8 - 4/14/2019

From Monday April 8th thru Sunday April 14th - 28 single family homes went to contract in the Catalina Foothills of Tucson, AZ.
(Link expires 5/17/2019)

14 were priced from $270,000 to $490,000
 13 from $600,000 to $875,000
  1 at $1,350,000 

A big week for homes priced $600k to $999,9999. 

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

in contract the last 2 weeks, 3/25 - 4/7/2019

From Monday March 25th thru Sunday April 7th - 55 single family homes went to contract in the Catalina Foothills of Tucson, AZ
(link expires 5/9/20219)

36 were priced from $210,000 to $599,000
16  from $619,000 to $998,500
 3 from $1,100,000 to $3,595,000 

A fairly normal 2 weeks for this time of year. And in case you are wondering the $3,595,000 contract is in Canyon Ranch where homes often command much higher prices than they do in the rest of the Catalina Foothills. 

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

 

Catalina Foothills, 1st qtr. Single Family Home Sales and Sold Prices

The following charts show the number single family homes sold and sold prices in the Catalina Foothills
during the 1st Qtr. of each year from 2004 to 2019.

Our numbers are down this year; was it the stock market, uncertainty about the economy, political turmoil, the cold wet winter weather, or all of the above.

First up is the number of single family homes sold for up to $999,999
As you can see sales have dropped for the last two years -
this year sales are down 5.6% from last year and 14.6% from 2017

 

Meanwhile,
sales at $1,000,000 & UP continue, more or less, at the tepid pace they have maintained for the last 10 years
At this rate home sales at $1,000,000+ command a meager 6.6% share of the single family home market in the Catalina Foothills

And Median Sold prices rose a titch from the same period last year - they're up 0.64%, a titch.

Not terrible, but nothing to write home about either.

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

in contract last week, 3/18 - 3/24/2019

From Monday March 18th thru Sunday March 24th - 24 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 4/27/2019)

19 were priced from $212,000 to $599,900
  3 from $720,000 to $785,000
  2 at $1,455,000 & $1,750,000  

the $1,750,000 ($366/sf) listing, an impressive masonry stucco territorial on a spectacular mountain view lot in Pima Canyon , is the first home listed at $300 or more /sqft - that is NOT A CONTEMPORARY - to go to contract or sell in the last 6 months in Pima Canyon. Hurrah!!

Meanwhile, 3 Pima Canyon contemporaries sold for $342, $343 & $344/sf in the last 60 days - two in March and one in February. 
Contemporaries, in housing, they are the new black.  

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

Remember Robert Schiller, he's still around and still thinking about housing

Nobel Prize winner Robert Shiller: Housing market ‘not as exciting’
CNBC
PUBLISHED WED, MAR 27 2019 • 10:18 AM EDT | UPDATED WED, MAR 27 2019 • 11:05 AM EDT
Tala Hadavi

Nobel Prize winner Robert Shiller told CNBC that despite a strong housing market since 2012, homebuyers do not seem as excited.  Low unemployment is helping drive the market up.

Shiller also says President Donald Trump and his family’s lifestyle might be contributing to people feeling like, they too, can live in extravagant homes.

However, the Yale University economist says, “There could be a change in sentiment toward housing which could bring prices down.”

Shiller also addresses housing affordability as a global issue.

CLICK HERE FOR CNBC VIDEO

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

in contract the last 2 weeks, 3/4 - 3/17/2019

From Monday March 4th thru Sunday March 17th - 32 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 4/18/2019)

22 were priced from $243,100 to $575,000
 6  from $600,000 to $950,000
 4 from $1,095,000 to $1,739,000 

32 contracts over 2 weeks, it's not terrible but it's not what it should be for this time of year - many fewer contracts this March than during the first two weeks of March 2018 and March 2017 and .... yep March 2016 too.

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

a quick snapshot of the current Catalina Foothills single family home market

So far this year, (thru 3/10/19);

110 single family homes have sold
at a median sold price of $476,000
in 65 median days on the market

During the same period last year;

140 single family homes sold
at a median sold price of $497,000
in 42 median days on the market 

The numbers reflect a 21% drop in home sales - a 4% drop in median sold prices - and a 55% increase in market time. 
All signs of a weaker market.

And we're in good company;
An article in Bloomberg covering the hottest housing markets states, "For the first time in years, the U.S. is entering its key spring house-hunting season with buyers holding the upper hand. Nowhere is the shift more pronounced than in once-hot areas such as Seattle, San Francisco and Denver, where bidding wars are vanishing, time-on-market is climbing and prices are flattening, or even falling. These western cities, the center of the recent housing boom, are now leading the slowdown"

Granted, a key reason for the slowdown in those formerly hot markets is the insane price increases they've had in the last 6 or 8 years - with prices doubling in Seattle since 2012. While our price increases have been much more sane, and much more modest - Catalina Foothills median sold prices are up just 25% since 2012. 

Nevertheless, we are also experinencing a slowdown this year - Unless, of course, it's a contemporary home. If so those numbers go out the window. 

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

in contract the last 2 weeks, 2/18 - 3/3/2019

From Monday February 18th thru Sunday March 3rd - 42 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 4/5/2019)

27 were priced from $355,000 to $599,900
14 from $600,000 to $995,000
1  at $1,169,000
                                          

   On March

Traditionally, March is one of the busiest months for Catalina Foothills single family home sales - and judging by the first 6 days this March is no exception. So far, 18 19 homes have gone to contract in just the first 6 days,

16 contracts are for homes priced from $285,000 to $599,900 + 3 from $624,995 to $950,000. 

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

people ask, how's the market doing?

well, that depends - there are a few different markets here in the Catalina Foothills, which one are you interested in?

Is it the market for homes listed for up to under $600,000? If so, the answer is the market is strong, it's doing very well -  the inventory is low and activity, contracts and sales are high. 
124 homes for sale - 76 in contract - 36 sold in the last 30 days = a skimpy 3.4 month supply of homes for sale

Above $600k the market is weaker. 

from $600,000 to $999,999 it's a very different picture;
there are 111 for sale (nearly as many as the homes listed up to $599k) but with just 30 in contract - and just 9 sold in last 30 days = a fat 12 month supply of homes for sale. 

at $1,000,000 to $1,499,999 the market is even slower;
46 homes for sale - 2 homes in contract - and just 2 homes sold in the last 30 days = 23 month supply of homes at the current rate of sales. 

Contracts are a more accurate picture of currrent market activity than sales, because current sales are the result of deals that were made 30 - 60 days ago while contracts are more recent. 

If we compare the relationship of the number of homes for sale to the number in contract at each price range, it looks like this;
$0 - $599,999 - 124:76 (76 in contract = 61% of the number of homes for sale)

$600,000 to $999,999 - 111:30 (30 in contract = 27% of the number of homes for sale)

$1,000,000 to $1,499,999 - 46:2 ( 2 in contract = 4% of the number of homes for sale)

At $1,500,000 & UP it's pretty much the same, slow, there are 37 homes for sale - 4 in contract - 1 sold in the last 30 days. 

That is the market at this time. 

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

another record for contemporary homes

In a post last month I talked about how well contemporary homes are selling here in the Catalina Foothills - "... they are selling well. Better, for more $$ and faster than anything else in the same price range" 

And now a home that was recently remodeled (to flip) in the contemporary style in Catalina Foothills Estates 7 - just sold for list price, $729,000, at $259/sf - the highest $$/sf sold price of the 123 homes that have sold in Cat 7 in the last 10 years. 

And it sold quickly too -  just 18 days from listing to contract.
While - during the last 6 months - the average/median days on market in Cat 7  is 110 & 95 days on market. 

Contemporaries, they're hot and they're scarce. 

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

in contract last week, 2/11 - 2/17/2019

From Monday February 11th thru Sunday February 17th - 20 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link will expire 3/26/2019)

11 were priced from $329,000 to $575,000
6  from $650,000 to $945,000
3  from $1,095,000 to $1,975,000

20 contracts, that's more like it.

First it was political turmoil accompanied by a deep plunge in the stock market. And when that dropped off February greeted us with unusually cloudy, wet and cold weather, none of which sits too well with home buyers here in the Catalina Foothills. But it looks like, maybe, we are now getting back on track. Stand by, we'll soon see. 

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

Contemporary homes are hot

I'm talking pure contemporaries and better yet new or recently built pure contemporaries. Or homes that have been recently renovated and remodeled in the contemporary style. Not Southwestern contemporaries. 

like this. With simple, clean lines 

and this

(the homes pictured above are purely for illustration, they are not homes for sale in Catalina Foothills)

Here in the Catalina Foothills we're seeing more contemporaries, mostly at the upper price ranges, from about $900,000 and UP. And they are selling well. Better, for more $$ and faster than anything else in the same price range. 

Of the 4 homes in contract in pima canyon, 3 are contemporaries. There was a 4th contemporary in contract but it fell out. 
I pick Pima Canyon because it is the subdivision most likely to have newer contemporaries because it is the subdivision that had and probably still has more buildable lots than any other high-end gated subD in the Catalina Foothills. 

A brand new contemporary sold in Pima Canyon last September for $2,331,000 ($420/sf) before it even hit the market. 
A contemporary sold last month after just 11 days on the market in Skyline CC for $1,450,000 ($437/sf) - I saw that and thought WOW! $437/sf. So I went back to 1995 and since then 346 homes have sold in Skyline and $437/sf is the highest $/sf sold price in 23 years. The next highest is was a sale in 2006 for $393/sf.

A contemporary in a non-gated area located on a lot that is, in my opinion, way too close to a busy road, went to contract recently. 

last year a contemporary located in Flecha Caida Ranch Estates sold for $1,250,000 ($312/sf) - the most expensive home sold in Flecha in the last 8 years. And at $1,250,000 it's head and shoulders above the $395,000 median sold price and $154/sf median sold price of the 197 homes sold in Flecha in the last 8 years. 

Contemporaries, they're hot and they are scarce. 

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

 

 

Reuters says, "...existing home sales fall sharply ..."

Uh oh, ... existing home sales fall sharply ..., say it isn't so. 

That's the headline, in the body of the story Reuters goes on to say ".... The National Association of Realtors said on Thursday existing home sales dropped 1.2 percent to a seasonally adjusted annual rate of 4.94 million units last month."

Dropped 1.2%, geeewhiz, I didn't realize that a 1.2% drop is a... fall sharply .... drop. Did you.

Oh well, it makes for a catchy headline.

The home sales story for January here in the Catalina Foothills is not quite as dramatic 

50 homes sold last January and 50 homes sold this January. Boring but true.

Though there is a difference in sold prices and days on market between last Jan and this Jan. 

Last Jan 50 homes sold for a median sold price of  $539,500 in 35 DOM
This Jan 50 homes sold for a median sold price of  $508,000 in 62 DOM

My opinion; one month is much too short a time period to draw any conclusions about the ups and downs of sold prices. Give it 3 or 4 months and a more accurate and reliable picture of the market will begin to emerge.  

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

in contract last week, 2/4 - 2/10/2019

From Monday February 4th thru Sunday February 10th - JUST 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/19/2019)

7 were priced from $299,900 to $500,000 -   after 38 average & 46 median 'days on market' DOM
5 from $618,000 to $650,000 -  after 21 average & 8 median DOM 
1 at $1,550,000 -   after 673 DOM

I say JUST 13 single family homes ... because 13 is unusually low for this, usually busy, time of year. On the other hand the long run of cold, cloudy, damp weather we've been having is also unusual and may have something to do with the lack of activity. Imagine you are a snowbird here for a few weeks to find a warm roost for the winter, and instead you encounter the cold, cloudy, damp weather that we've been having. Could it possibly cause you to reconsider or at least wait to see if the weather breaks and improves. 

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

Catalina Foothills Sold Prices, from peak to trough to now

If you read this blog you have very likely heard that Catalina Foothills single family home prices dropped 31% from their peak in 2006 to their bottom in 2012. And since then (6 years lateer)  prices have risen 25%, resulting in a drawn-out and tepid price recovery.  ($570,000 in 2006 dropped to $390,000 in 2012 rose to $488,000 in 2018)

But the good news is prices rose more in the last 2 years than they did in the previous 4 years - up 6.6% in 2017 & up 9.6% in 2018  v. a total rise of 7% for the years 2012 thru 2016. So the pace of price increases has incresed. 

And those numbers are accurate, but they represent all the homes sold in all areas and subdivisions throughout the Catalina Foothills. And as I’ve also mentioned before, ‘…prices across the foothills do not march in lockstep. Some areas, price ranges and even individual homes, perform better or worse than others’.

So here’s a look at how much better or worse individual subdivisions performed during the peak year 2006 to the bottom in 2012 and then in 2018. The following figures are median sold prices for all single family homes sold in each subdivision during the full year shown.

Under the sold price is the % change from 2006 to 2012 and from 2012 to 2018.      
Click any of the highlighted subdivision names to see all the homes currently for sale. 
** indicates just one home sold

Subdivision	2006	2012	2018
All Foothills Sales	$570,000	$390,000 -31%	$488,000 +25%
Shadow Hills	$633,750	$425,000  -33%	$583,700 +37%
Pima Cyn	$1,766,500	$1,082,500  -39%	$1,150,000 +6%
Sin Vacas	$915,000	$625,000  -32%	$670,000 +7%
Catalina Fthls 1-9	$677,500	$530,000 -22%	$638,500 +20%
Catalina Fthls 10	$1,200,000	$992,500 -17%	$905,000 -9%
La Paloma	$675,000	$417,500 -38%	$522,402 +25%
Cobblestone	no sales	$1,004,965**	$887,500 -12%
Canyons	no sales	2,100,000	$1,550,000** -26%
Hacienda del Sol	$1,200,000	$767,500  -36%	$932,500 +21%
Foothills ll	$1,062,000	$979,750 -8%	no sales
Pinnacle Ridge	$952,500	$651,000 -32%	$779,000 +20%
Skyline CC	$1,000,000	$641,000 -36%	$851,500 +33%
Skyline Bel Air	$597,250	$345,500  -42%	$481,000 +39%
Alta Vista	$1,050,000	$845,000  -19%	$791,250 -6%
Cimarron	$722,500	$435,000 -40%	$490,500 +13%
Coronado Fthls Est	$608,750	$390,000 -36%	$569,000 +46%
Flecha Caida	$528,500	$343,000 -39%	$562,500 +82%
Fairfield	$560,000	$360,000 -35%	$444,500 +23%
Villages of Ventana	$485,000	$341,500  -19%	$398,500 +17%
Ventana CC	$1,036,250	$569,500 -45%	$694,500 +22%
Sabino Mountain	$839,250	$319,950 -62%	$541,500 +69%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold prices sure didn't march in lockstep, they’re all over the lot, both in how far they fell and how much they’ve recovered.
This has been a painfully slow recovery, it's been six years since prices hit bottom and we still haven't gotten back to where prices were 12 years ago. 

One thing is for sure, buyers are much more price conscious these days than they were in 2004 - 2007, much more. Back then, because prices were rising so quickly, buyers were afraid  not to buy. Which lead to rampant price increases that are so far proving to be impossible to attain. 

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

in contract last week, 1/28 - 2/03/2019

From Monday January 28th  thru Sunday February 3rd - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/12/2019)

18 were priced from $218,000 to $525,000
4 from $629,000 to $725,000
and that's it!

hmmm, nothing above $725k

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

 

 

did Catalina Foothills January 2019 home sales suffer from the economic/political & stock market volatility of the 4th Qtr 2018

January home sales are the result of deals made (contracts signed) in November & December and possibly a few in October too. 
So, hmmm, let's see.

49 single family homes sold in the Catalina Foothills in January 2019
(link expires 3/6/19)

They sold - at  median sold price of  $510,000 - at median sold $/sf of $197 - in 58 median days on market

compared to;

50 single family homes sold in the Catalina Foothills in January 2018

They sold - at median sold price of $539,500 - at median sold $/sf of $189 -  in 35 median days on market

compared to;

58 single family homes sold in the Catalina Foothills in January 2017

They sold - at median sold price of  $443,000 - at median sold $/sf of $161 - in 63 median days on market

January 2019 home sales are nothing to be ashamed of, (and are better than I anticipated) but who knows how much better they would have been without the market volatility. 

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

in contract last week, 1/21 - 1/27/2019

From Monday January 21st  thru Sunday Jan 27th - 22 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 3/2/2019)

17 were priced from $218,000 to $550,000
 3 from $619,000 to $725,000
 2  at $1,249,000 & $1,595,000

With the 2 new contracts at $1,249,000 & $1,595,000 there are now 9 homes in contract listed at $1,000,000 & UP - and 3 of them are located in Pima Canyon - and all 3 are contemporaries. 

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

in contract last week, 1/14 - 1/20/2019

From Monday January 14th  thru Sunday Jan 20th - 26 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/24/2019)

19 were priced from $274,000 ti $599,900
7 from $675,000 to $995,000
and that's it

26 contracts is more  contracts than usual for middle of January. Because while January is the beginning of our high season for home sales, buyers often want to hold off on making deals until February or even March, when more new listings have come to market and they are confident that they've seen everything they need to see before making a deal. 

So, with buyers jumping in like this, I hope it's a sign of good things to come in 2019!


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

in contract last week, 1/7 - 1/13/2019

From Monday January 7th  thru Sunday Jan 13th - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/18/2019)

7 were priced from $355,000 to $525,000
4 from $675,000 to $847,225
1 each at  $1,149,000&$1,599,000

During that same week 34 single family homes were listed for sale; lots of new listings is what it's all about at this time of year, the time when the Catalina Foothills real estate market gets into full swing with more buyers and more homes listed for sale.

Today, there are 307 single family homes listed for sale in the Catalina Foothills - see them all at TheFoothillsToday.com

TheFoothillsToday.com 
to find your very own Catalina Foothills Home

a snapshot of $/Sq Ft Sold Prices in the Catalina Foothills

$/sf sold prices peaked in 2006 at $270 gated and $213 non-gated, and bottomed out at $184 gated and $140 non-gated in 2012.
Since then they have risen 18.5% gated and 27% in non-gated areas.
Yet, after 6 years they are still well below their 2006 prices; 19% below  in gated and 16% below in non-gated areas. 

I squeezed in too much stuff, click the chart to expand it

I squeezed in too much stuff, click the chart to expand it

However, $/Sq Ft Sold Prices rose more in 2018 than in any other year since bottoming out in 2012 -
up 7.4% in Gated areas
up  8.5% in non-gated areas

And while that seems hopeful, if the current political/economic turmoil and uncertainty continues it is sure to have a negative affect on our real estate market. Though, does anyone doubt that it hasn't already.

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

in contract during the 1st 6 days of 2019

From Tuesday January 1st  thru Sunday January 6th - 9 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (link expires 2/11/2019)

6 were priced from $249,900 to $599,000
3 from $699,000 to $845,000
and that's it for contracts.    

During that same period 35 homes were listed for sale in the Catalina Foothills and they ranged in price from $243,100 to $2,195,000, including 5 homes listed from $1,119,900 to the aforementioned $2,195,000. 
As of today there are 305 single family homes listed for sale in the Catalina Foothills of Tucson, AZ  
See them all HERE

And away we go!

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

 

2018, by the numbers

817 single family homes sold in the Catalina Foothills of Tucson, AZ in 2018;
that's -9% less than the 898 homes sold in 2017.
Nevertheless, median sold prices rose 9.6% in 2018 (to $488,000) over 2017s median sold of $445,000.

Most Popular Price Range
The most popular price range for single family home sales in the Catalina Foothills was $300,000 to $399,999 - with 186 sales, and those 186 sales equal just under 23% of all the homes sold in the Catalina Foothills single family home market.

The 2nd most popular price range was $400,000 to $499,999 with 171 sales – which equals 21% of the market. So that small slice of the market, from $300,000 to $499,999, represented 44% of all the single family homes sold in Catalina Foothills in 2018.

Most Popular Subdivision
With a whopping 41 single family homes sold in 2018, La Paloma was, hands down, the most popular subdivision. The 41 sales were priced from $265,000 to $1,040,000 and just about every price range in between.

Most Sales at $1,000,000 & UP
It was practically a photo finish
Pima Canyon came in 1st with 10 sales from $1,045,000 to $1,500,000
meanwhile, Ventana CC, with 9 sales from $1,100,000 to $3,250,000, was nipping at Pima Canyon's heels
and Skyline CC came in 3rd with 8 homes sold from $1,025,000 to $2,152,700

And Now, Even More Exciting Data
486 homes sold had private  pools – 331 did not
198 homes sold in gated communities – 619 sold in non-gated areas 
670 homes sold were single story – 147 were 2 or more stories

17 of the homes sold were built from the beginning of time to 1960  (about 2% of all sales)
306 were built from 1961 to 1980   (37% of all sales)
376 were built from 1981 to 2000   (46% of all sales)
118 were built from 2001 to 2019    (14% of all sales)

239 homes sold were cash sales
493 were conventional financing
 9   were FHA loans
53  were VA loans
 6 were owner carryback sales
17 sold with some other creative form of payment

 2 of the homes sold were short sales
10 were foreclosures
                            

That's it for now,
Have a Happy, Healthy and Prosperous 2019                        

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

 

Catalina Foothills Home Sales & Sold Prices, January - December 2018

The following charts track single family home sales and sold prices in the Catalina Foothills of Tucson, AZ for each year from 2004 thru 2018. 

First up, the number of Homes Sold up to $999,999
Home sales in 2018 fell from where they were in 2017 - and the pace of falling sales has recently accelerated;
thru June sales were down just 2.3%; - thru November they were down just under 9%;
Now they're down 10.6%. 

Next up, Catalina Foothills home sales at $1,000,000 & UP
With 62 sales in 2018 more homes have sold for $1,000,000 & UP than in every other year since 2007.
But still a long way from the 92 sales in 2007 and eons from the 126 in 2006.

Sold prices this year are UP 9.6% over last year -
and have held fairly steady all year long with just a teeny drop (-0.34) in the last few months.

Repeating what I said last month - As we look at sales in the months ahead we are very likely to see some weakness in our market as a result of the recent and continued volatility in the stock market. The two go together like PB & J, particularly at the upper-end, though the results are not always as sweet. 

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

in contract the last 8 days of 2018; 12/24 - 12/31/2018

From Monday December 24th  thru Monday December 31st - 13 single family homes went to contract in the Catalina Foothills of Tucson, AZ (link expires 2/01/2019)

7 were priced from $299,000 to $574,900
6 from $600,000 to $845,000  
and  that's it for 2018

Happy New Year!

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