10445 N. Oracle, Suite 121
Tucson, AZ 85737 Office: 520-918-5968 Toll-Free: 888-825-8251 ext. 5968 Fax: 520-989-6114 Brenda@BrendaOBrienTeam.com 
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Brenda's Tucson Housing Market Report
October 2008 Tucson Home Sales
The Election is Finally Over! Now What?
The Election is Finally Over! Thank Goodness, now finally, maybe we can start getting back to normal. Our Nation has been so two blocked over this election and the economic woes facing the country we were just all bound up and nothing was happening. Now that we are past the election and there are several stimulus packages in the works we hope things will start to loosen up and people will begin to start stirring around. We're not out of the woods yet, but at least there is some light at the end of the tunnel. We see the current caution and reluctance to take action continuing through the end of the year as the public settles down and gets through the holidays. We are hoping for some improvement in early 2009 as public confidence begins to improve and all these new stimulus packages start working into the system. All that being said, We are seeing a little spike in buyer interest. There seems to be more buyers out looking around in the first 2 weeks of November than there was in all of September and October. Yes, October was rough, and we probably have a few tough months ahead of us but we believe we are over the hump and it's downhill from here with things gradually improving. Key current month statistics from the Tucson Association of Realtor’s October 2008 Report show: Total Tucson Home Sales Units: 823, Decreased 6.9% from October 2007. Decreased 11.88% from last month. Total Tucson Pending Sales: 755, Decreased 23.97% from October 2007. Decreased 9.69% from last month. Tucson Average Sale Price: $226,435, Down 12.76% from $259,557 in 2007.Northwest Tucson Average Sale Price: $257,001 Down from $264,560 last month.
Catalina Foothills Average Sale Price: $577,227 Up from $374,440 last month. Total Tucson Active Listings: 7,988, Down 14.23% from 9,313 in October of 2007.
Northwest Tucson Active Listings: 1,966, Up 17 units from last month.
Catalina Foothills Active Listings: 764, Up 24 units from last month. Total Tucson New Listings: 2,032, Down 13.3% from 2,399 in October of 2007.
Northwest Tucson New Listings: 465, Down 34 units from last month.
Catalina Foothills New Listings: 182, Up 23 units from last month. Some quick conclusions we draw from these Tucson home sales statistics are: Positive Market Indicators this month. New Listings continue to decline. Total inventory continues to decline. Average sales price ticked up 4% over last month. Negative Market Indicators this month. Total Unit Sales, Pending Sales and Average Price are all down over last year. We are still bouncing along the bottom. The reports continue to show lack of buyer confidence and a reluctance to move into real estate at this time. It's still about the economy and we just have to wait it out. The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market.
