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10445 N. Oracle, Suite 121 Tucson, AZ 85737 Office: 520-918-5968 Toll-Free: 888-825-8251 ext. 5968 Fax: 520-989-6114 email: Brenda@BrendaOBrienTeam.com |
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Brenda's Tucson Housing Market Report
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"February was very busy as Pending Contracts rose to 1094."
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Below is a summary of key Tucson Real Estate Market indicators from Top Tucson Realtor Brenda O'Brien. The full detailed reports are available at the bottom of the page. Although the number of sold (closed) units decreased this month, the number of Pending Contracts increased to 1,094 which is the highest number of Pending's since June of 2006. This indicates that there are lots of buyers out there and they are buying! Homes that are priced appropriately and show well are selling! The Key to selling your home in this market is to price it appropriately, make it easy to show and make sure it shows like a model. Key current month statistics from the Tucson Association of Realtor’s February 2007 Report show: Tucson Home Sales Volume: Decreased 18.99% from $290,894,840 in February 2006 to $235,639,830 in February 2007. Tucson Home Sales Units: Decreased 13.80% from 1058 in February of 2006 to 912 in February 2007. Tucson Average Sale Price (all residential types): Decreased 6.03% from $274,948 in February 2006 to $258,377 in February 2007. Tucson Average Days on Market: Increased 44.44% from 45 days in February 2006 to 65 days in February 2007. Tucson Active Listings: Increased 37.26% from 7,174 in February 2006 to 9,847 in February 2007. Tucson New Listings: Decreased 20.08% from the 2,973 listings added in February 2006 to the 2,376 listings added in February 2007. Some quick conclusions we draw from these Tucson home sales statistics are: New listings may be slowing. Although 2376 new listings came on the market this February in a seasonally strong pattern, that number is 1375 less than what came on the market last month and 597 less than what was listed in February of 2006. Active Listings continue at over 9,000. This continues to be a buyers market with lots of inventory and lots of choices for buyers. Prices are down but still strong. The Average Sale Price is down $16,571 from February of 2006 but is up $24,147 from February of 2005. Bargains, Yes! Steals, No! With all the homes currently for sale there are indeed bargains to be had out there. However we are not seeing sellers caving in and giving their homes away. Most sellers are holding out for a reasonable offer and are willing to wait. The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market. |
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February 2007 Tucson Multiple Listing Service Report
Brenda's 2006 Year End Tucson Housing Market Report 2006 (Year in Review) Tucson Multiple Listing Service Report | |
