Brenda's Tucson Housing Market Report
June 2015

Summer is the Best Time To Buy in Tucson

Summer's Arrived, the weather's warm and the market's HOT

Average Days On Market = 62 ~ Sales Price as a % of List Price = 97.02%

Market Activity: May was another very strong month. The market remained Hot throughout the month. Inventory is starting to drop a little, but there's new listings every day so plenty of great homes to take a look at. If you're a buyer, the summer is a great time to buy as some sellers are more motivated having missed the spring season. Buyers, If you want a quick real estate tour, Contact us, we'd love to show you around!

If you're a seller, this is a great time to sell! If the buyers are out in this heat, they're Serious Buyers. Running around looking at homes all day is hard work. Treat every showing as serious and make your home sparkle! Sellers, If you want a top notch agent to list your home, 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 June 2015 Report show:

Total Tucson Homes Sold: 1,388, Increased 14.24% from May of 2014. Increased .36% from last month.

Total Tucson Homes Under Contract: 2,252, Increased 8.9% from May of 2014. Decreased 3.6% from last month.

Tucson Median Sale Price: $171,250, Up 2.54% from May of 2014.
Oro Valley Median Sales Price: $283,000, Up 14% from May of 2014.
Catalina Foothills Median Sales Price: $326,500, Up 2% from May of 2014.

Total Tucson Active Listings: 5,250, Down 2.67 from 5,394 in May of 2014.
Northwest Tucson Active Listings: 1,488, Down 118 units from last month.
Catalina Foothills Active Listings: 628, Down 33 units from last month.

Total Tucson New Listings: 2,108, Up from 1,974 New Listings in May of 2014.
Northwest Tucson New Listings: 551, Down 86 units from last month.
Catalina Foothills New Listings: 216 Down 67 units from last month.

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

Positive Market Indicators this month: Total Unit sales were up year over year and month over month. Average Sales Price was up year over year and month over month. Median sales price was up year over year and month over month. Total Sales Volume was up 20.92% year over year and up 3.11% over last month. Basically all price metrics are steadily increasing as we move through the year.

Negative Market Indicators this month: None, Market continues strong as we transition into our summer season.

Market Outlook: The 1st quarter was amazing, the second quarter is just as good so far with one month (June) to go so we are expecting to see a stronger than usual Summer Season. Interest rates are beginning to creep up but so far that has not impacted sales. We expect buyers may get a little more motivated as they become more aware of the changing interest rate environment. We expected May to slow down slightly, but missed the call on that one as May was a Very Strong month.

Interest rates remain very low however we are starting to see little upward creep in rates. Lenders continue to slowly ease credit standards for home loans. The Fed is getting closer and closer to raising interest rates this year so the trend in rates remains up.

The National Economy continues to improve, particularly on the jobs front. Almost all economic data points continue to slowly grind upward continuing to support improving real estate markets across the nation.

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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