Brenda's Tucson Housing Market Report
December 2013

November was Strong & We were Very Busy

Now is the time to List for the Spring Rush! - Call Me!

Average Days On Market = 51 ~ Sales Price as a % of List Price = 96.95%

November was a Very Strong month, one of our best months for sales this year. December is starting off strong with lots of buyers in town. Christmas decorations are going up all over town and the holiday spirit is alive and well in Tucson. It's fun showing homes this time of year with all the decorations on display.

You guys up north will laugh, but we're looking forward to spring here. It's chilly in the morning but it warms up in the afternoons and the golf courses are full with happy folks enjoying the weather. A little cold for us locals though. Folks visiting this time of year realize how wonderful it is here with great weather and lots to do. Our market remains in a gradual upward trend and we see nothing to change that. As we look forward to spring, we still remain low on listings. We have lots of buyers and we need more listings. If you're a seller, the busiest selling of the season starts right after the New Years holiday! To catch the busiest selling season of the year, you need to list Right Now!

If you're a potential seller and want to catch the spring season, Now is the time! Remember, the market picks up again the first week of January and is typically very strong for the first 4 months or so of the year.

This country seems to be loosing it's way and the American Dream is fading as we continue to bury our children and following generations in mountains of debt. All this turmoil will drive up taxes and interest rates so if you're a buyer, now is the time to get your retirement home bought and the still historically low interest rates locked in.

Inventory remains low but it's climbing, The market is heating up with Competing Offers on prime properties. Make good offers and don't mess around or somebody else will be living in your dream home and we don't want that. We can help you with all the data you need to make a good informed decision on what to offer for that home you want.

Heading into winter, our weather is fantastic! temperatures are cooling down and it's glorious out there! If you're shoveling Snow up North, hop on a flight and come on down, we'd love to see you.

This Month's take-away remains the same: The Stock Market has had a fantastic run with the markets are at all time highs and there's lots of paper profit laying around. Congress is a Mess and there's a big fight coming up. Some of the talking heads on TV are starting to talk "Correction" and we concur. Might be time to take some profits off the table and buy that Retirement Home down in the Sunbelt:-)

Tucson Active Listings: Active listings now stand at 5,286, up again last month. If you want to sell this Spring, you need to list Real Quick!

New Listings: There were 1,751 New Listings in November so there's lots of interesting new homes to look at. We expect New Listings to Decrease in December as folks are in full holiday mode. Beat the crowd and get a jump on the January sales rush by Listing NOW!

Average Sales Price: The November average sales price was $191,763, up 5.05% from $182,539 in November of 2012. Another month of year over year price increases. We remain positive and expect this trend will continue throughout the rest of 2013 and throughout most if not all of 2014.

Days on Market: Pegged at 51 this month. Make good offers, lots of competition out there now. Homes are currently selling on average for 96.95% of asking price.

If you're trying to low ball your dream home, you're out of luck, somebody else will be living there! Remember that the really nice properties go for closer to asking price (or even above it) and it's the less desirable homes that you can get the better deals on. Is it really worth loosing your dream home that you're going to spend your golden years in over a few thousand dollars.

Feel free to contact us with your questions. We're easy to talk to and we can answer any questions you might have about current market conditions, interest rates or where home prices are headed. If you're interested in talking about listing your home we'd be happy to provide our recommendations on how best to proceed.

Key prior month statistics from the Tucson Association of Realtor’s November 2013 Report show:

Total Tucson Homes Sold: 933, Increased 6.14% from November of 2012. Decreased 17.43% from last month.

Total Tucson Homes Under Contract: 1,724, Decreased 22.93% from November of 2012. Decreased 2.65% from last month.

Tucson Median Sale Price: $159,500, Up 10.28% from November 2012.
Oro Valley Median Sales Price: $245,000, Down 4% from November 2012.
Catalina Foothills Median Sales Price: $290,000, Down 8% from November 2012.

Total Tucson Active Listings: 5,286, Up 19.32% from 4,430 in November of 2012.
Northwest Tucson Active Listings: 1,521, Up 56 units from last month.
Catalina Foothills Active Listings: 593, Up 87 units from last month.

Total Tucson New Listings: 1,751, Up from 1,591 New Listings in November of 2012.
Northwest Tucson New Listings: 491, Down 37 units from last month.
Catalina Foothills New Listings: 188, Down 41 units from last month.

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

Positive Market Indicators this month: Average Sales price increased 5.05% from last year, Median Sales Price increased 10.28 from same period last year

Negative Market Indicators this month: Sales Volume is down 1.39% from last year, Units Sold decreased 6.14% from last year and average days on market increased by 1 day to 51.

Market Outlook: We are experiencing the best Weather of the year as the Northern tier states are getting hammered by storm after storm. Makes Arizona look pretty nice right now. The first 2 weeks of December were good however the last 2 weeks of the year will be very slow due to the holidays. We expect January should ramp up very quickly and we should be Very busy for the spring months. If you live up north and are tired of shoveling snow, Come On Down, we have Lots of Sun and it's not too hot, The weather's Perfect!

The Economy continues to steadily improve, housing stocks remain on the low side, interest rates are slowly increasing and housing remains in a multi year uptrend.

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

Questions about current Tucson Housing Market Conditions?
Email Brenda or call her Today at 520-918-5968
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