Brenda's Tucson Housing Market Report
December 2014

Golf & Sunshine in the Morning - Home Shopping in the Afternoon

Life is Good in Southern Arizona!

Average Days On Market = 58 ~ Sales Price as a % of List Price = 97.04%

Market Activity: November was good, very good. The Market is in our standard shoulder season, ramping up to prime time in January thru April or so. Lots of new listings coming on the market so lots of choices for buyers. Markets are very active but not frantic, it's a great time to shop for a new home right now. If you're looking for the perfect home, We've Got It...Come take a look!.

In The News: Interested in some fun things to do in Oro Valley / Tucson? Here's the current Calendar of Events

If you're looking for a No Hassle-No Pressure realtor to show you around we'd love to help. We specialize in Oro Valley and the Catalina Foothills. We're experts on golf properties, retirement communities, vacation homes and investment properties. We sell about a hundred homes a year so we know what we're doing. We love meeting people and helping them find their Dream Home. Contact us and we can help you too:-)

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 December 2014 Report show:

Total Tucson Homes Sold: 917, Decreased 1.71% from November of 2013. Decreased 13.49% from last month.

Total Tucson Homes Under Contract: 1,465, Decreased 15.02% from November of 2013. Decreased 13.72% from last month.

Tucson Median Sale Price: $165,000, Up 3.45% from November 2013.
Oro Valley Median Sales Price: $236,000, Down 4% from November 2013.
Catalina Foothills Median Sales Price: $365,900, Up 26% from November 2013.

Total Tucson Active Listings: 5,820, Up 10.10% from 5,286 in November of 2013.
Northwest Tucson Active Listings: 1,648, Up 18 units from last month.
Catalina Foothills Active Listings: 653, Up 33 units from last month.

Total Tucson New Listings: 1,809, Up from 1,751 New Listings in November of 2013.
Northwest Tucson New Listings: 489, Down 69 units from last month.
Catalina Foothills New Listings: 197 Down 9 units from last month.

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

Positive Market Indicators this month: Days on Market dropped sharply from 64 to 58 indicating heavy demand, Average sale price was up 7.88% over last year, Average list price was up 7.78% over last year and Median sales price was up 3.45% year over year.

Negative Market Indicators this month: Total Sales Volume decreased very slightly year over year, Total units sold down 1.71% from same period last year, Active listings were up 10.10% over last year (good for buyers, bad for sellers).

Market Outlook: We had a little burst of activity in November as usual which should extend into the first couple of weeks of December. Second half os December will be slow due to the holidays. January will quickly ramp up and should be a strong month for sales. Interest rates remain low and Lenders continue to slowly ease credit standards for home loans. Both Fanny Mae and Freddie Mac have announced pending decreases in down payment requirements expected to kick in very soon.

The National Economy continues to steadily improve with a strong jobs report issued in early December. It now looks lie the 4th quarter will close stronger than expected which should bode well for real estate markets both locally and nationally.

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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