the pulse of the market, as we head into the stretch

With just 35 shopping days ‘til June, here’s a glimpse of what’s gone on in the Foothills home market during the past 14 days.

New Listings- 48
Avg list price - $963,425
Med list price - $659,950

The 48 new listings are evenly split, with 24 priced below the overall Foothills median list price of $649,000, and 24 above it, with 10 of those above it at $1.0mil+.

Under Contract – 32
Avg list price - $535,427
Med list price - $427,000

However, with the 32 under contract, 25 are priced below the median, and just 7 above it. And interestingly,yeah, 5 of those 7 are priced at $1.0mil+. 

Sold – 13
Avg Sold price - $537,500
Med Sold price - $440,000

Here’s where the rubber meets the road. Of the 13 sold, 10 are priced below the $649k median (in this case 10 at $585k or less). And just 3 above it, with 2 of the 3 priced at $1.0mil+.

Price Reductions – 64
Reduced Avg list price - $684,273
Reduced Med list price - $574,900

In this popular category, 35 price reductions were on homes listed for $649k or less, and 29 above that, with 7 $1.0mil+ being reduced.

So the beat goes on, and on - with a big gap between the price of homes that are selling vs those being listed for sale, which mirrors the gap between the average/median list ($925,265/$649,000) of all 585 Foothills homes for sale, vs all that have sold this year -
($516,130/$425,000)