Market Conditions for Catalina Foothills in Catalina, Arizona
Reported by Cathy Porterfield, REALTOR, Associate Broker, Buyers Broker
Updated September 15, 2008.
Current Market Rating: 2
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 2
1
2
3
4
5
Falling
Rising
Tucson market conditions remain lower than usual, but continue to stabilize. According to the Tucson Association of Realtors the number of acitve listings has dropped from a high of over 10,000 to less than 8,000 at 7,763 for the first time in many months. Though still high it is on its way downward and the gap is consistently decreasing month to month.
Though the Tucson conditions are better than many other areas, Short Sales and Foreclosures are affecting the median sales price, though not dramatically. Although we seem to be at the bottom of the market there may still be some bumps ahead in this recovering market.
The average sales price in 2007 was $273,815 and is $238,504 for the same month in 2008. Average sale prices also vary intensely on the area in Tucson. For instance, the average sales price in the North is $462, 500, the Northeast is $376,861,and the average sales price in the Northwest in $264,766 in contrast to many of the other area's which fall well below the average sales price of $200,000.
The largest growth and sales area can be found in the Northwest in both housing and infrastructure.
There are some great opportunites due to the Days of Inventory on the market which has gone from 13 months to 8 months making it a Buyers Market.
ZIP Code: 85718 Approximate Location Boundaries: Northern Foothills of the Santa Catalina Mountains
Location Characteristics: Open Feeling, where the homes are primarily on Acre Parcels with Natural Desert surrounding all the area. Rolling Hills with Saguaro, Desert Mesquite, and Palo Verde. Looking up at the majestic Catalina Mountains and out toward the City and Nighttime City Lights. The area is known as the Beverly Hills of Pima County drawing the affluent to Luxury Custom Homes, The states most exclusive resorts and Guest Ranch's. Despite the Reputation of opulence, the Foothills is home to many looking for apartment, town homes and more affordable homes that makes the community more egalitarian than it would seem.
About Cathy Porterfield:
Cathy Porterfield, Realtor, Associate Broker , and Buyers Broker with Eleven years of experience in Tucson Az. My business has been built on Referrals with wonderful clients touting my expertise to friends and family. As a people person, my goal is to help them to find the right home at the right price. Negotiate to their best interests, and follow through to the end with the Buyers/ Sellers, Lenders, as well as, Title and Escrow .
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
