Brenda's Tucson Housing Market Report
May 2015

Spring is almost over, Summer's right around the corner

Best weather of the year, 70's & 80's Perfect for home shopping, Come On Down!

Average Days On Market = 66 ~ Sales Price as a % of List Price = 96.79%

Market Activity: We got slammed in April. Our best month in years. Our Team was on fire and everything was selling. The market was Hot! There's a ton of exciting new inventory out there right now so it's a great time to go house shopping. The weather's fantastic and rates are still low so now's a great time to grab that second home or retirement home you've been thinking about. If you want a quick real estate tour, Contact us, we'd love to show you around!

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 May 2015 Report show:

Total Tucson Homes Sold: 1,383, Increased 6.30% from April of 2014. Increased 8.47% from last month.

Total Tucson Homes Under Contract: 2,336, Increased 9.83% from April of 2014. Increased 1.83% from last month.

Tucson Median Sale Price: $167,000, Up 1.58% from April of 2014.
Oro Valley Median Sales Price: $242,000, Down 5% from April of 2014.
Catalina Foothills Median Sales Price: $345,000, Up 9% from April of 2014.

Total Tucson Active Listings: 5,487, Up .38% from 5,466 in April of 2014.
Northwest Tucson Active Listings: 1,606, Down 79 units from last month.
Catalina Foothills Active Listings: 661, Down 37 units from last month.

Total Tucson New Listings: 2,161, Up from 2,021 New Listings in April of 2014.
Northwest Tucson New Listings: 637, Down 47 units from last month.
Catalina Foothills New Listings: 283 Up 34 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. Total Sales Volume was up 9.55% over last month.

Negative Market Indicators this month: None, Market continues strong as wind down our Spring Season.

Market Outlook: We are finishing our Spring Selling Season on a high note with one of the strongest years in recent history. This bodes well for a stronger than usual Summer Season. Interest rates are beginning to creep up so that may create a little stimulus for those who have been waiting to buy. We expect buyers may get a little more motivated as they become more aware of the changing interest rate environment. We expect May to slow down slightly as we begin transitioning from Spring to Summer.

Interest rates remain very low (however there we are starting to see little upwards twitches in rates) and 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 is up.

The National Economy continues to improve, particularly on the jobs front. Unemployment now stands at 5.4% which is an improvement over last month and continues the downward trend in unemployment that's been going on for the last several months. Wage growth is starting to pick up slowly as the jobs market tightens and nears full employment levels. Oil prices are starting to rebound upwards which will tend to increase inflation slightly putting more pressure on the FED to raise interest rates. All these positive economic signs continue 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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