Brenda's Tucson Housing Market Report
January 2016

A New Year is once again upon us, Market remains Strong!

Heading into our busy season everything seems primed for a blockbuster year

Average Days On Market = 61 ~ Sales Price as a % of List Price = 97.29%

Market Activity: the market has picked up again after a very brief slow down in November. Things are buzzing as we head into 2016. December did turn out to be very strong this year, much stronger than prior years which we take as a good sign. We continue to be very busy with new listings coming in every week so there's a good selection of nice new homes for buyers to look at.

The weather's great for home shopping & Golf. Come on down and take a look, It's a little cold in January (well cold to us) in the 50's and 60's but February should start warming up into perfect spring weather in the 60's and 70's so we're looking forward to that. 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. Get your home Listed very soon or you'll miss the spring season. 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 now and they're buying now so don't delay. 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 January 2016 Report show:

Total Tucson Homes Sold: 1,247, Increased 15.89% from December of 2014. Increased 37.18% from last month.

Total Tucson Homes Under Contract: 1,610, Increased 23.47% from December of 2014. Decreased 11.73% from last month.

Tucson Median Sale Price: $176,000, Up 6.67% from December of 2014.
Oro Valley Median Sales Price: $257,475, Up 3% from December of 2014.
Catalina Foothills Median Sales Price: $323,000, Down 4% from December of 2014.

Total Tucson Active Listings: 4,888, Down 12.44% from 5,577 in December of 2015.
Northwest Tucson Active Listings: 1,351, Down 39 units from last month.
Catalina Foothills Active Listings: 597, Down 21 units from last month.

Total Tucson New Listings: 1,614, Up from 1,470 New Listings in December of 2015.
Northwest Tucson New Listings: 418, Down 46 units from last month.
Catalina Foothills New Listings: 157 Down 36 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 38.64% from prior month, Average Sales Price was up month over month and year over year, Median Sales Price was up month over month and year over year. Total Homes Under Contract was up year over last year, Average Days on market remain low at 59.

Negative Market Indicators this month: None, all indicators positive heading into the new year.

Market Outlook: We expect this Spring season to be stronger than last year. All systems are go for a continued climb in sales and prices as we head into 2016.

The focus is changing slowly from economic conditions to the current election cycle. I think people are getting bored with the slow improvement in the National Economy and the drama of the election is now taking center stage. 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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