The Catalina Foothills

in contract last week, March 29 thru April 4, 2021

From Monday March 29th thru Sunday April 4th - 16 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 5/10/2021)

3 were priced $375,000 to $499,000
7 from $615,000 to $850,000
6 from $1,095,000 to $3,300,000

The lower end of the market, up to about $500k, is hurting from a lack of supply - not enough homes for sale.         From $0 to $500k there is a grand total of 8 homes for sale while, typically, at this time of the year (March/April, the busiest time of year) there are roughly 70 to 100 or more homes for sale in that price range.
 
And it's not because they're selling like crazy this year, they're not - because there's almost nothing to sell.
Here are the # of homes sold from January 1st to April 10th in each of the following years;
2016 - 109 sold
2017 - 147 sold
2018 - 122 sold
2019 - 117 sold
2020 - 100 sold, and this, during the outbreak of the covid-19 in Tucson
2021 -  66 sold, during what is otherwise the hottest real estate market we've ever had

Meanwhile, sales at $1,000,000 & UP are going thru the roof -

with 6 contracts last week at $1,000,000 & UP and 2 of them priced at $3,250,000 & $3,300,000 that makes it 5 homes now in contract priced from $3,250,000 to $3,650,000.
Most years few, if anything, have sold at $3,000,000 
Here are yearly sales at $3,000,000+ since 2016;
2016 - 1 sold 
2017 - 0 sold
2018 - 2 sold
2019 - 0 sold
2020 - 3 sold in the 2nd half of the year when Tucson became the hot ticket for those fleeing more congested places.. 

Take care, stay well

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

The first 3 months / Catalina Foothills Single Family Home Sales for Jan 1 - March 31 2015 - 2021

(Revised-Updated, 4/6/21 to report additional sales, that were not available yesterday and resulting higher sold prices for 2021)

The following charts track the number of single family homes sold, median sold prices (MSP) and days on market (DOM) in the Catalina Foothills of Tucson, AZ for the period of January 1st thru March 31st of each year from 2015 to this year, 2021. 

The home sales, MSP numbers and DOM 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 - which, this year, represents 82% of the Catalina Foothills single family market. Prior to this year sales up to $999k represented about 92% of the foothills market but the big increase this year in sales at $1,000,0000 & UP claimed a bigger piece of the pie for the 7 figure market. 

The $1.0mil+ market made enormous gains so far this year (up165% over last year), gains that started kicking in last summer when the Catalina Foothills became the hot ticket for many of those looking to escape more congested parts of the country.

And of course with all that frothy activity the MSP is going thru the roof,

while DOM disappear

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, from March 22 to March 28, 2021

From Monday March 22nd thru Sunday March 28th -  21 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 5/1/2021)

9 were priced from $350,000 to $595,995
8 from $615,000 to $995,000
4 from $1,100,000 to $3,495,000

And they went quickly, 6 median days on market, including the $3.495 deal, which went in 4 days. 

Let's say a new listing appears in the MLS and on the 1st day as an active listing two or three buyers come to see it.

Then, on day 2, one of those buyers submits an offer, but it comes in late in the day and the sellers aren't able to counter it until the next day, day 3, and upon receiving the sellers counter offer the buyer hems and haws but eventually signs it, and accepts the sellers counteroffer on day 4 - that's the day it goes into contract, the status is changed to Active Contingent, and is calculated in the MLS as 4 days on the market. Even though 3 of those days were spent offering and counteroffering. And sometimes there is more time spent offering and counteroffering before getting to an accepted contract, particularly if there are multiple offers. And sometimes it all comes together on the first day with no waiting. 

Take care, stay well

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

it's tough out there

I was checking out the market at $700,000 to $850,000 to get the latest on what's selling and what are they selling for. Here's what I found, in the last 30 days 18 homes listed from $700,000 to $850,000 sold, here's what they were listed for and sold for. 

Listed	Sold
$700,000	$700,000
$720,000	$720,000
$749,000	$749,000
$765,000	$750,000
$700,000	$751,000
$749,000	$759,000
$769,000	$765,000
$760,000	$775,000
$775,500	$780,000
$790,000	$790,000
$795,000	$795,000
$765,000	$800,000
$775,000	$800,000
$800,000	$825,000
$835,000	$830,000
$790,000	$836,000
$789,000	$852,000
$835,000	$860,000

And most of them sold  quickly too, in 3 MDOM (median days on market)... 

See the 18 sold HERE
(link expires 4/28/2021)

Currently, at $700,000 to $850,000 there are 6 homes for sale, 6 that's it. 

See the 6 for sale HERE
(link expires 4/28/21)

Before going out with a client I often describe the market situation as something like this;

The market is such that buyers - even at $1.0 to $2.0mil - are having to make do, because there's not much to choose from, be more flexible than they would like, often need to write full price (or more) clean as a whistle offers, and do it right away (no sleeping on it, unless it's a dog) and end up paying more than they want to pay, but at the end of the day celebrating that they are one of the lucky ones who got a house.

Take care, stay well

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

 

in contract last week, from March 15 - March 21, 2021

From Monday March 15th thru Sunday March 21st -  17  single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 4/23/2021)

6 were priced from $269,900 to $549,900
9 from $619,000 to $995,000
2 at $1,995,000 & $2,950,000

And that's it, a dip in the action from recent weeks - when there were 31, 26, 26 again and 44 (for 2 weeks) contracts.

Take care, stay well

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

in contract the last 2 weeks, from March 1 - March 14, 2021

From Monday March 1st thru Sunday March 14th -  44  single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 4/14/2021)

23 were priced from $279,000 to $599,995
13 from $620,000 to $915,000
 8 from $1,100,000 to $2,600,000

Another strong showing for Catalina Foothills contracts, and they went quickly, in just 4 MDOM for all 44, including the 8 homes listed from $1.1mil to $2.6 going to contract in 7, 3, 21, 4, 1, 91, 5 and 3 days on the market. 

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

in your favorite Catalina Foothills Subdivision, Now and Then

The following is a snapshot of the current single family home market in a variety of popular subdivisions in the Catalina Foothills of Tucson, AZ .

Starting with the number of homes now for sale, the number in contract and the number sold in the last 3 months - from December 14, 2020 to March 14, 2021 -  followed by the number sold during the same 3 month period one year ago -  December 2019 to March 2020. 

As you will see, from one year to the next sold prices for many homes increased 10 - 20% or more, while, in the majority of sales, homes sold much faster than ever before, many of them in less than 5 or 10 days on market. Meanwhile the number of homes for sale drifted down, down, down to what are now record low numbers of homes for sale. 
Click any of the highlighted subdivision names to see all the homes that are currently for sale. 
MSP = median sold price
MDOM = median days on market

Alta Vista

Now
1 home for sale  // 3 in contract // 3 sold for $843,000 MSP in 5 MDOM

Then   
8 sold for $707,500 MSP in 63 MDOM

Foothills Clusters

Now
0 homes for sale // 2 in contract // 7 sold for  $372,500 MSP in 7 MDOM

Then
3 sold for $370,000 MSP in 60 MDOM

Skyline Bel Air

Now
0 homes for sale // 4 in contract // 3 sold for $550,000 MSP in 2 MDOM

Then   
9 sold for $465,000 MSP in 17 MDOM

Shadow Hills 

Now
0 homes for sale // 3 in contract // 7 sold for $742,000 MSP in 3 MDOM

Then
5 sold for $580,000 MSP in 90 MDOM

Pima Canyon

Now
2 homes for sale // 5 in contract // 5 sold for $1,746,175 MSP in 113 MDOM

Then
5 sold for $1,072,500 MSP in 24 MDOM

Sin Vacas (not including Villa Milano)

Now
0 homes for sale // 1 in contract // 2 sold for $1,217,500 MSP in 124 MDOM 

Then
2 sold for $777,500 in 374 MDOM

La Paloma

Now
3 for sale // 7 in contract // 14 sold for $619,750 MSP in 21 MDOM

Then
11 sold for $505,000 in 54 MDOM

Flecha Caida

Now
1 for sale // 5 in contract // 3 sold for $600,000 MSP in 17 MDOM

Then
6 sold for $489,550 in 129 MDOM

Skyline Country Club

Now
2 for sale // 4 in contract // 5 sold for $1,065,000 MSP in 3 MDOM

Then
3 sold for $762,000 MSP in 29 MDOM

 Catalina Foothills Estates 10 

Now
3 for sale // 2 in contract // 1 sold for $802,000 in 79 DOM

Then
5 sold for $1,072,500 MSP in 92 MDOM

 Fairfield

Now
1 for sale // 5 in contract // 4 sold for $507,950 MSP in 4 MDOM

Then
9 sold for $478,750 MSP in 11 MDOM

Sabino Mountain

Now
1 for sale // 5 in contract // 6 sold for $620,250 MSP in 12 MDOM

Then
4 sold for $668,500 MSP in 35 MDOM

Ventana Country Club

Now
4 for sale // 9 in contract // 15 sold for $835,000 MSP in 14 MDOM

Then
4 sold for $522,500 MSP in 51 MDOM

 

Here's a link to a similar post I did during what was a pretty normal market on October 13, 2019 profiling the same subdivisions as those above - the key bit of info from that post is how many homes were for sale in each of those subdivisions at that time v. the scarcity of homes for sale now. 

Alta Vista - 7 for sale then, 1 now
Foothills Clusters - 3 then, 0 now 
Skyline Bel Air - 8 then, 0 now
Shadow Hills - 5 then, 0 now
Pima Canyon - 10 then, 2 now
Sin Vacas - 10 then, 0 now
La Paloma - 9 then, 3 now
Flecha Caida - 12 then, 1 now
Skyline CC - 16 then, 2 now
Catalina Foothills Est 10 - 7 then, 3 now
Fairfield - 9 then, 1 now
Sabino Mountain - 0, 1 now
Ventana CC - 12 then, 4 now

In mid October 2019 there were 273 single family homes for sale in all of the Catalina Foothills, today there are 72 for sale - 73% fewer homes for sale now than then. That scarcity of homes for sale plus the increased sales from folks moving here from more congested places combined with record low interest rates are all contributing to super quick sales and higher prices. That's the current market in the foothills. 

Take care, stay well

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

in contract last week // Feb 22 thru Feb 28, 2021

From Monday Feb 22 thru Sunday Feb 28 -  26 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 4/6/2021)

9 were priced from $369,000 to $560,000
10 from $650,000 to $999,000
 7 from $1,000,000 to $3,650,000

Another big week for Catalina Foothills Home sales, especially with the $million+ market continuing to shatter sales records.

This year, from January 1st thru March 5th 29 homes have sold for $1,000,000 & UP
During the same period in 2020 12 homes sold for $1,000,000 & UP
During the same period in 2019  8  homes sold for $1,000,000 & UP

And today there are 33 homes listed from $1,000,000 to $3,650,000 in contract and, coincidentally, just 33 in that same price range for sale. A very tight market. 

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

faster & for more $$

That, in a nutshell, describes the Jan/Feb single family home market in the Catalina Foothills this year v. the same 2 months last year. 

this year;
136 homes sold
for $631,500 median sold price
in 13 median days on market

v.

last year
132 homes sold
for $547,500 median sold price
in 32 median days on market

So about the same # of homes sold each year but this year they sold for 15% more $$$ and did it 59% faster than last year.

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills

 

in contract last week // Feb 15 thru Feb 21, 2021

From Monday Feb 15 thru Sunday Feb 21 -  26 single family homes went to contract in the Catalina Foothills of Tucson, AZ  (85718 & 85750) (link expires 3/27/2021)

11 were listed from $295,000 to $590,000
11 from $635,000 to $769,000
 4 from $1,489,000 to $2,195,000

Another robust week for Catalina Foothills Homes Sales!

Take care, stay well. 

see TheFoothillsToday.com 
to easily search all the homes for sale in the Catalina Foothills