Brenda's Tucson Housing Market Report
March 2010

Market Is Brisk - Buyers Are Buying

Federal Tax Credits Programs Expire April 30! Buy Now or Miss These Programs

First Time Home buyers Details - Move-Up/Repeat Buyers Details

Despite the weather, Buyers are Buying! February has been another very busy month, just like January. Buyers are out in force and homes are selling. As we continue to bounce along the bottom, buyers are snapping up deals like mad. There are still lots of distressed properties on the market and lots of bargain hunters sorting thru them.

Sellers be aware! It is vitally important to price your home right in this type of market. You absolutely must be priced correctly or your home just will not sell. Get expert help in computing your pricing point. In addition, you home must show like a model! There is just too much competition out there to have a dirty or cluttered home listed and expect it to sell. Leave your home when it is being sold! For showings, turn on every light in the house, open every curtain and make sure all the clutter is picked up.

Interest Rates will rise soon. Rates are going up soon, have no doubt about that! If you're a seller, do everything you can to get your home under contract by April 30 & make sure your buyers have locked their interest rates! There's about 6 weeks left before things are going to get weird in the interest rate arena. Buyers, BUY NOW or you'll be kicking yourselves in the months to come as interest rates ratchet higher.

Warren Buffett sees housing market bouncing back. In a recent USA Today article Warren Buffer said the U.S. will recover from the real estate slump by 2011.... read full article

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 or the Tax Credit Programs.

Key prior month statistics from the Tucson Association of Realtor’s March 2010 Report show:

Total Tucson Home Sales Units: 741, Increased 6.62% from February 2009. Increased 4.07% from last month.

Total Tucson Pending Sales: 1,417, Increased 38.92% from February 2009. Increased 22.68% from last month.

Tucson Average Sale Price: $195,996, Down 11.38% from $221,154 in 2009.
Northwest Tucson Average Sale Price: $256,734 Down from $258,870 last month.
Catalina Foothills Average Sale Price: $392,500 Down from $439,631 last month.

Total Tucson Active Listings: 6,739, Down 10.53% from 7,532 in February of 2009.
Northwest Tucson Active Listings: 1,772, Up 17 units from last month.
Catalina Foothills Active Listings: 753, Up 40 units from last month.

Total Tucson New Listings: 2,104, Up 305 units from 1,799 in February of 2009.
Northwest Tucson New Listings: 516, Down 147 units from last month.
Catalina Foothills New Listings: 102, Down 166 units from last month.

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

Positive Market Indicators this month. Lots of Buyers in the market now, We've been selling 2 homes a week since the first of the year. Total Units Sold up 6% over last year. Pending Sales up 39% over last year. Active listings down over last year by another 10%. Total Volume (total dollars sold) up over last month. Short term we expect (and are seeing) increasing sales until the tax credits expire.

Negative Market Indicators this month. Median Sales Price down 15% over last year, Average Sales Price down 11% from last year. Although these are negative numbers they are actually a positive for future sales as prices continue bouncing along the bottom.

A Picture is Worth a Thousand Words:

Historical Interest Rates

We Can't Stress This Enough: IF YOU WANT TO BUY USING A MORTGAGE, BUY NOW!!!!!

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

Tucson Multiple Listing Service Report - March 2010

Catalina Foothills Housing Report - March 2010

Oro Valley Housing Report - March 2010

2009 (Year in Review) Tucson Multiple Listing Service Report

Brenda's 2009 Year End Tucson Housing Report

Tucson Housing Market Report Archives

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