for single family homes in the Tucson Foothills
priced at $0 to $599,999 there are 48 homes in contract and 256 remaining for sale. So 19% of the homes for sale are in contract
at $600,000 to $999,999 there are 18 in contract and 107 for sale. that’s about 17% of the number for sale in contract
and, drum roll please,
at $1,000,000 & up there are 2 in contract and 99 remaining for sale.
so, uh, 2% of the number for sale are in contract.
And it should be noted that those 2 are listed at $1.3 or less. So nothing, nada, zip, zilch, in contract above $1.3. While those for sale run to $6.5 and from there take a giant leap to $13,500,000.
Now, just for fun, if those contracts were sales and we were computing months of inventory by price range, it would look like this;
inventory at $0 to $599k would be a nice lean 5.3 months
while at $600 to $999k we’d be looking at a perfectly normal 6 month supply. And for our high-end homes, at a 49 month supply, we’d have more than enough to go around and around again and again
Of course, while all the homes in contract won’t make it to COE, current contracts are an awfully good indication of where the money is going and where it’s not, at this very moment.
see thefoothillsToday.com
to find your Foothills home
