The Catalina Foothills

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