Brenda's Tucson Housing Market Report
MLS Releases Monthly Report Late This Month
Average Days On Market = 91 ~ Sales Price as a % of List Price = 94.54%
Outlook Brightening: Well, we appear to be picking up a little wind now as we head into fall with Unit Sales in August up 11% more than in July. The market is showing signs of improving and the snowbirds will soon be back.
Mid-Term Elections: The mid-term elections are right around the corner and that will hopefully have a positive effect on public confidence as we re-adjust the makeup of the congress. No matter what your political affiliation we believe people are generally dissatisfied with the current economic climate and looking forward to putting some new folks in the congress.
The economy is Slowly Improving, almost all economic statistics point to that, but the man on the street doesn't see it yet. We really need some positive news on the economic front to get this recovery moving.
We introduce a couple of New Statistics this month. At the top of the page we will be posting Average Days On Market data and also the Percentage of Asking Price Homes are Selling For.
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 September 2010 Report show:
Total Tucson Home Sales Units: 882, Decreased 10% from August 2009. Increased 11.36% from last month.
Total Tucson Homes Under Contract: 1,378, Increased 8.16% from August 2009. Increased 39.19% from last month.
Tucson Average Sale Price: $186,562, Down 6.54% from $199,626 in 2009.
Northwest Tucson Average Listing Price: $234,821 Down from $238,101 last month.
Catalina Foothills Average Listing Price: $441,668 Down from $472,803 last month.
Total Tucson Active Listings: 7,170, Up 18.28% from 6,062 in August of 2009.
Northwest Tucson Active Listings: 1,826, Up 152 units from last month.
Catalina Foothills Active Listings: 676, Up 4 units from last month.
Total Tucson New Listings: 1,455, Down 350 units from 1,805 in August of 2009.
Northwest Tucson New Listings: 353, Down 66 units from last month.
Catalina Foothills New Listings: 106, Down 45 units from last month.
Some quick conclusions we can draw from these Tucson home sales statistics are:
Positive Market Indicators this month: Units under Contract up again year over year & month over month. Total Unit Sales up 10% over last month. New Listings down 19% over same period last year.
Negative Market Indicators this month: Active Listings Up to over 7,000 for the first time in a year and a half. Average Sales Price down almost 6.54% from last year.
Market Outlook: As predicted last month, sales did pick up in August (up 11.34% over July). Near term we are expecting sales to continue gathering strength through the fall season.
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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