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8540 N. Oracle Rd. Oro Valley, AZ 85704 Office: 520-918-5968 Toll-Free: 888-825-8251 ext. 5968 Fax: 520-989-6114 email: Brenda@BrendaOBrienTeam.com |
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Brenda's 2006 Year End
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"2006 was interesting, the Market is adjusting but 2006 was still a huge year"
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The Tucson MLS has released their Year End Report for 2006 Key year end statistics from that Report show that 2006 was one of the best years ever for Tucson Real Estate. There was lots of talk about a "crash" or a "bubble" however the data do not support such claims: Tucson Home Sales Volume: The Volume (total dollars) of sales did decrease from $,4.7 Billion in 2005 to $4.3 Billion in 2006. Even so, with sales of $4.3 Billion, 2006 ranked as the 2nd best year for real estate sales in Tucson's history. Tucson Home Sales Units: Total units sold for 2006 were 16,058, which was 2508 fewer than in 2005 and just 958 less than in 2004 making 2006 the 3rd best year in Tucson history for number of homes sold. Tucson Average Sale Price (all residential types): Increased by $14,299 over 2005 and by $62,667 over 2004. Average Sales prices of residential units at the end of 2006 are the highest they have ever been. Tucson Average Days on Market: Increased from 33 days in 2005 to 50 days in 2006. This is mainly due to much larger inventories of homes on the market. This number should begin dropping again as we work through the current excess inventory. Tucson Active Listings: Increased 56.09% from 5,457 in December 2005 to 8,518 in December 2006. Tucson New Listings: Increased 9.29% from the 1,638 listings added in December 2005 to the 1,790 listings added in December 2006. As a Top Tucson Realtor Brenda O'Brien draws some quick conclusions from these Tucson home sales statistics: Prices are continuing to climb! The rate of appreciation has slowed but values are still climbing. We do have an excess of inventory at the end of 2006 as compared to prior years. However this indicator appears to be starting to trend down as we start working our way through this excess. At the end of 2006 Active Listings were under 9,000 for the first time in over 6 months.! Days on market are the highest they have been since April of 2004 at 64 days. We expect this number to begin trending down also as the active inventory continues to shrink and there are less homes available. The 2006 Year End Tucson Market Report below will give you a detailed look inside the 2006 Tucson Housing Market. |
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2006 (Year in Review) Tucson Multiple Listing Service Report
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