Brenda's Tucson Housing Market Report
September 2014

Autumn Lull Drags On - Market should wake up this month

Weather is Fantastic and we're all looking forward to Fall

Average Days On Market = 65 ~ Sales Price as a % of List Price = 97.19%

Market Activity: August was a good steady month although sales did decrease slightly over same period last year. We at the Brenda O'Brien Team continue to remain well ahead of where we were at this time last year. We seem to be busy year round and each year we seem to sell more homes than the prior year. We saw SNOW on the news this week up in the Dakota's, YIKES! Come on down, we'll find you a nice warm home here in Arizona.

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. Contact us and we can help you too:-)

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 2014 Report show:

Total Tucson Homes Sold: 1,158, Decreased 3.90% from August of 2013. Decreased 1.53% from last month.

Total Tucson Homes Under Contract: 1,655, Decreased 19.82% from August of 2013. Decreased 9.5% from last month.

Tucson Median Sale Price: $163,000, Up 1.56% from August 2013.
Oro Valley Median Sales Price: $260,000, Down 4% from August 2013.
Catalina Foothills Median Sales Price: $327,000, Up 10% from August 2013.

Total Tucson Active Listings: 5,155, Up 21.32% from 4,249 in August of 2013.
Northwest Tucson Active Listings: 1,398, Down 96 units from last month.
Catalina Foothills Active Listings: 555, Up 5 units from last month. done

Total Tucson New Listings: 2,024, Up from 1,819 New Listings in August of 2013.
Northwest Tucson New Listings: 518, Up 58 units from last month.
Catalina Foothills New Listings: 200, Up 25 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 3% from last year, Average sale price was up 7.21% over last year, Average list price was up 7.47% over last year and Median sales price was up 1.56% year over year.

Negative Market Indicators this month: Total units sold continue to slow as we head into fall. Active listings were up 21% over last year (good for buyers, bad for sellers).

Market Outlook: This years annual end of summer lull seems to be a little longer than normal but we expect the market to start picking up rapidly as we head into fall. Despite all predictions, interest rates remain low, (although they appear to be waking up as this is written). Lenders continue to slowly ease credit standards for home loans and there's lots of housing inventory currently available.

The National Economy continues to slowly improve and interest rates appear to be ticking up. We now expect to see stronger economic numbers for the 3rd and 4th quarters which should further stimulate the real estate market both locally and nationally.

The FED continues on track to end QE3 in October. Most economists predict the FED will begin slowly increasing rates sometime in mid 2005, although any robust economic indicators in the next quarter or two could move that rate increase forward into the first half of next year. We monitor this closely as it is a precursor to increased mortgage rates.

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

Tucson Multiple Listing Service Report - September 2014

Catalina Foothills Housing Report - September 2014

Oro Valley Housing Report - September

2013 (Year in Review) Tucson Multiple Listing Service Report

Brenda's 2013 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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