Brenda's Tucson Housing Market Report
February 2016

Solid Market Conditions as we begin our Spring Selling Season

The weather is starting to get nice, Sunny & Warm in the 70's - 80's

Average Days On Market = 66 ~ Sales Price as a % of List Price = 97.18%

Market Activity: The Market started off stronger than last year with January seeing increased sales and prices compared to last year. February is looking very strong with lots of new inventory out there.

The weather's great for home shopping & Golf. Come on down and take a look, February is warming up into perfect spring weather in the 70' & 80's so we're really enjoying that and looking forward to Swim Season. If you want a quick real estate tour, Contact us, we'd love to show you around!

If you've been thinking about selling your home, Now is the Time. We're in the height of our spring season. If you want to catch this spring season, you need to get listed right away. Remember, it usually takes a little time to get going on a new listing. You need to get your home ready for showing, the advertising needs to be created, and all the paper work needs to be completed. The Snow Birds are here and They're Buying Now so don't delay, they'll be leaving soon heading back home. If you're looking for a top producing agent, Please Contact us, we'd love to help you sell your home!

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.

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 February 2016 Report show:

Total Tucson Homes Sold: 965, Increased 19.88% from January of 2015. Decreased 22.61% from last month.

Total Tucson Homes Under Contract: 1,892, Increased 7.26% from January of 2015. Increased 17.52% from last month.

Tucson Median Sale Price: $169,900, Up 6.02% from January of 2015.
Oro Valley Median Sales Price: $271,000, Up 7% from January of 2015.
Catalina Foothills Median Sales Price: $310,250, Down 2% from January of 2015.

Total Tucson Active Listings: 5,095, Down 12.20% from 5,803 in January of 2015.
Northwest Tucson Active Listings: 1,398, Up 47 units from last month.
Catalina Foothills Active Listings: 677, Up 80 units from last month.

Total Tucson New Listings: 2,373 Down from 2,416 New Listings in January of 2015.
Northwest Tucson New Listings: 641, Up 223 units from last month.
Catalina Foothills New Listings: 330 Up 173 units from last month.

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

Positive Market Indicators this month: Total Sales Volume was up 33.27% Year over Year, Average Sales Price was up month over month and year over year, Median Sales Price was up year over year. Total Homes Under Contract was up Month over Month and Year over Year, Average Days on market sits at 66 (4 days less than January 2015).

Negative Market Indicators this month: None, all indicators remain positive as we head into Spring.

Market Outlook: We expect this Spring season to be strong with a continued climb in sales and prices as we head into 2016.

The Election cycle is heating up with early states already voting in the primaries. It's all about the election for the next several months. The Economy is also very much in focus as economic conditions continue slowly improve but with concerns of a recession becoming more prevalent. Interest rates are still historically low although the FED did raise rates very slightly in December. It's about a toss up if they continue to raise rates or not. There are good arguments on both sides of this issue.

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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