Brenda's Tucson Housing Market Report
April 2009

Tucson Markets continue Slow Improvement

February was good, March was a little Better. March figures showed month over month improvements in several categories: Total Home Sales Volume up 24%, Pending contracts up 18%, Active listings down another 1.5% and Total Homes Sold up 35%. Yup, things are starting to move. There were a few dips month over month as we gave back a little in Average Sales Price -8% and Median Sales Price -7%. Overall another good month with more positive signs we are starting to recover.

We've been harping about the economy for the last several months but now our focus is changing to "Public Perception & Confidence" We are definitely starting to see a change in that area as there are more buyers out there. They're almost all saying; "We know Now's the Time To Buy"! This is a big change for us as most of the last year they were saying "We're going to wait and see what happens".

Positive Signs Across the Country. We talk to agents all over the country on almost a daily basis and they're all saying the same thing this last couple weeks. Realtors in San Diego, Las Vegas, Sarasota Florida and Myrtle Beach South Carolina have all told us their markets were picking up.

We're starting to Sense it Coming. We can almost smell it. It's like an old Mariner out at sea saying a storm's coming even though there isn't a cloud in sight. This Market's getting ready to Move!

We still think it's Going To be Gradual, but we're more confident than ever that 2009 will be a better year than 2008 and we'll be on a steady climb up after that.

Key prior month statistics from the Tucson Association of Realtor’s March 2009 Report show:

Total Tucson Home Sales Units: 892, Decreased 4.09% from March 2008. Increased 35.36% from last month.

Total Tucson Pending Sales: 1,204, Decreased 14.61% from March 2008. Increased 18.04% from last month.

Tucson Average Sale Price: $204,181, Down 21.20% from $259,120 in 2008.
Northwest Tucson Average Sale Price: $252,622 Down from $260,531 last month.
Catalina Foothills Average Sale Price: $427,377 Down from $428,753 last month.

Total Tucson Active Listings: 7,415, Down 17.81% from 9,022 in March of 2008.
Northwest Tucson Active Listings: 1,952, Down 77 units from last month.
Catalina Foothills Active Listings: 842, Up 52 units from last month.

Total Tucson New Listings: 1,989, Down 18.62% from 2,444 in March of 2008.
Northwest Tucson New Listings: 464, Up 4 units from last month.
Catalina Foothills New Listings: 194, Up 7 units from last month.

Some quick conclusions we draw from these Tucson home sales statistics are:

Positive Market Indicators this month. Active Listings continue their steady decline, we haven't seen this few listings since back in February of 2006 when there were 7,174 new listings. Slowly declining Average Sales Price is definitely a Positive Factor now as buyers are starting to re-enter the market in search of Value. Interest rates remain at historic lows.

Negative Market Indicators this month. The Economy is still struggling. Average sales prices dipped back down a bit. Foreclosures and Short Sales are still affecting our market.

At the Bottom. We think we're at the bottom, maybe just a hair past it. Buyer Activity is definitely picking up. We are going out with more buyers, and more importantly, the buyers are actually starting to write offers.

The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market.

April 2009 Tucson Multiple Listing Service Report

April 2009 Housing Report - Northwest Tucson

April 2009 Housing Report - Catalina Foothills

2008 (Year in Review) Tucson Multiple Listing Service Report

Brenda's 2008 Year End Tucson Housing Report

Tucson Housing Market Report Archives

Questions about current Tucson Housing Market Conditions?
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