Here look. There are 565 for sale and 187 have sold Jan 1 – May 31. So doing the math, (565/187 = 3.02 X 5 = 15+) we’re left with a 15 month supply of homes as we head into summer. And unless some miracle happens, summer will surely be a slower season for sales than Jan – May.
But, that aside, in doing a little research for some buyer clients, looking at, amongst other things, homes for sale vs. homes sold in a bunch areas across the Foothills, I didn’t find one subdivision where the supply of homes is 15 months. That’s also a fact.
Not in Shadow Hills or Pima Canyon or Cimarron, or anywhere. Because the averages are just that, averages, and don’t begin to tell the story of what’s really happening in one area vs. another.
And once I got started I got a little carried away, trying to find the one subdivision that equals the 15 month Foothills average.
| area | # for sale | # sold | moi | Avg list $$ |
| Shadow Hills | 14 | 3 | 23 | $628,754 |
| Pima Cyn | 19 | 2 | 47 | $2,333,250 |
| Sin Vacas | 8 | 2 | 20 | $906,190 |
| Cobblestone | 7 | 3 | 11 | $1,377,400 |
| La Paloma | 43 | 8 | 27 | $688,792 |
| Hacienda del Sol | 8 | 1 | 40 | $1,034,267 |
| Cat 10 | 15 | 0 | ?? | $1,407,527 |
| Coronado Fthls | 12 | 6 | 10 | $761,133 |
| Skyline CC | 20 | 2 | 50 | $1,239,973 |
| Alta Vista | 16 | 4 | 20 | $1,113,140 |
| Finisterra | 4 | 2 | 10 | $1,623,250 |
| Casas de Ventana | 5 | 3 | 8 | $482,150 |
| Cimarron | 8 | 5 | 8 | $552,100 |
| Flecha Caida | 11 | 3 | 18 | $686,793 |
| Fairfield | 9 | 10 | 4 | $416,882 |
| Villages Ventana | 6 | 5 | 6 | $424,455 |
| Encanto Cyn | 7 | 3 | 11 | $315,130 |
| Sabino Mtn | 10 | 4 | 12 | $976,500 |
| Ventana CC | 20 | 3 | 50 | $1,434,191 |
And these numbers don’t tell the whole story either.
Take Finisterra. 4 for sale, 2 sold = a 10 month supply. That’s not too bad you’d think. Yes but, the 2 that sold, sold for $565,000 or less and the 4 for sale are all over $1.0, 2 of them are over $3.0.
Or Coronado Foothills Estates. 12 for sale, 6 sold = a 10 month supply. Again, not terrible. But of the 12 for sale, 7 are priced $849 to $1.499. And of the 6 sold, 5 sold between $330 to $655K and just 1 sold over a million, at $1.4.
Or, gee-whiz, Ventana CC. 20 for sale, 3 sold = a 50 month supply.
If that’s not discouraging enough, the 3 that sold, sold from $525 to $725. And of the 20 for sale, 15 of them are priced from $1,150,000 to $3,595,000.
And so, of course, a lot of it has to do with cost. High priced homes are not selling too well, low priced homes are. But still there are differences and, more to the point, nothing is 15 months.
see thefoothillsToday.com
to search for Tucson Foothills Homes
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