32 were priced from $175,000 to $589,000 10 from $600,000 to $950,000 4 from $1,049,000 to $2,175,000
Although a few less contracts than other recent weeks, likely due to people celebrating the Passover and Easter holidays, still a very respectable number of contracts across the very broad spread of Catalina Foothills home prices.The $2,175,000 contract is the first this year at $2mil+.
The following charts track 1st Qtr. single family home sales from 2004 to 2017.
First up, for Homes Sold up to $999,999 Look at that jump in sales this year, more homes sold in the 1st Qtr. of 2017 than any year except 2005.
Next Up are Homes Sold at $1,000,000 & UP, a still struggling segment of the market that appears to be making progress. A less impressive 1st Qtr. than for homes sold for less than $1mil, nevertheless, for the first time in years sales rose, rather then fell, two 1st Qtrs. in a row - 2016 & 2017.
Last year, atypically, more homes sold at $1mil+ from July thru December (in the off season) than during our supposed high season of January thru June, resulting in 2016 racking up more sales at $1mil+ than any year since 2008. Not like way-more, just some more.
And finally, the icing on the cake, rising median sold prices
Again, two consecutive 1st Qtrs. with rising median sold prices. And sold prices this year that are higher than any year since 2008. Yippee!
We may actually, finally, be getting out of the woods.
We just put a new listing in Cat 10 in the MLS today; a warm contemporary designed and built in 1993 by David Tyson, 4446 sf, 5 bedrooms/4 baths including a guest suite with a private entrance, sitting room, kitchenette, bedroom and bath. The main kitchen and master bath have been totally and beautifully remodeled with significant updating to the 3 other baths and throughout the house, 3 car garage on a spectacular 1.6 acre hilltop lot with gorgeous city and mountain views. $1,195,000 ($269/sf)
Jan – Feb 2017 sales were running comfortably ahead of last years’ Jan – Feb numbers but the spike in sales this March has blown the doors off 2016 - 1st Quarter sales are now up 32% over 2016.
And we are finally seeing rising prices along with rising sales - 1st Quarter Median Sold prices are UP 11% over 1st Qtr 2016.
And more good news; the number of homes sold is small but 1st Qtr sales at $1,000,000+ are up 62% over 2016 (8 sold 1st Qtr. last year v.13 this year) – and 2016 was the best year in 8 years, with 53 sold, at $1,000,000+, in the Foothills.
brings the total to 12 sold at $1million+ for 2017 (v. 8 during same period 2016)
6221 E Vista Del Canon, Tucson, AZ 85750 in Finisterra has finally sold. It was first listed in May of 2013 for $1,650,000 and after nearly 4 years and 4 price cuts it got down to $1,150,000 and sold for $1,060,000 ($211/sf). The high points are the great setting and views but with an interior that though very well kept exuded 80’s glamour and would require a big remodel to update – not the kind of project that most buyers are anxious to tackle.
In Cobblestone, 7260 N Cathedral Rock Road, Tucson, AZ 85718 also from the 80’s but a simple contemporary design that held up quite well, and killer city views, it found a buyer in just 11 days and sold for $1,075,000 from a $1,195,000 list.
Also in Cobblestone and with Wow! big city views 7421 N Moon Spirit Lane, Tucson, AZ 85718 was listed for $1,495,000 in November 2015 and after dropping to $1,349,000 it sold the other day for $1,296,500. The sellers paid $1.6mil in 2007. For me this property is all about the views, the house, eh, not so much.
And, my how things change, 4905 N Camino Antonio, Tucson, AZ 85718, listed for $1,385,000 sold in 1 day for $1,325,000.
A beautiful minimalist contemporary spec home it was completed in 2007 and had a helluva time selling back then – after 483 days it finally sold in July 08 for $1,350,000 and then it sold again in 2012 for $1,262,500 after 74 days.
It was one of a set of triplets, 3 contemporaries, built on Camino Antonio by the same architect, Don Kornberg. No pictures in the current listing so here are a few from back then;
If you are interested in ancient history I blogged about this home and its two siblings back in June 2012 - SOLD, a real contemporary
Even with the market as hot as it is (up to about $600 to maybe $700,000) buyers are not wound up in the irrational exuberance that was rampant in 2003 – 2006, when almost everything sold with little regard for price. In those days prices were rising fast and furiously and buyers were afraid they would be left behind, not so these days. Not yet anyway.