Brenda's Tucson Housing Market Report
April 2015

We're Moving Through Spring, Looking forward to Swim Season

Spring in Arizona, The weather's Fantastic, Sunny & Warm. Market's Hot, Come on down!

Average Days On Market = 68 ~ Sales Price as a % of List Price = 97.55%

Market Activity: March 2015 was another incredible month for the real estate here in Tucson. All market indicators improving on strong sales activity and steadily increasing prices. There's a steady turnover of new inventory out there so there's always new properties to see. The weather's fantastic and rates are still low so now's a great time to pick up 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 April 2015 Report show:

Total Tucson Homes Sold: 1,275, Increased 12.73% from March of 2014. Increased 36.36% from last month.

Total Tucson Homes Under Contract: 2,294, Increased 5.57% from March of 2014. Increased 15.10% from last month.

Tucson Median Sale Price: $172,000, Up 6.17% from March of 2014.
Oro Valley Median Sales Price: $255,000, Up 10% from March of 2014.
Catalina Foothills Median Sales Price: $310,000, Up 6% from March of 2014.

Total Tucson Active Listings: 5,721, Up .28% from 5,705 in March of 2014.
Northwest Tucson Active Listings: 1,606, Down 63 units from last month.
Catalina Foothills Active Listings: 698, Down 26 units from last month.

Total Tucson New Listings: 2,415, Up from 2,126 New Listings in March of 2014.
Northwest Tucson New Listings: 637, Up 40 units from last month.
Catalina Foothills New Listings: 249 Down 113 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. Median sales price was up year over year and month over month. Total Sales Volume was up 17% over last month.

Negative Market Indicators this month: None, Market looks strong as we move through spring.

Market Outlook: We have another 6-8 weeks of our traditionally strong spring selling season. March numbers were virtually all on the positive side and April is looking great. We expect April to be another very strong month.

Interest rates remain very low and Lenders continue to slowly ease credit standards for home loans. Both Fanny Mae and Freddie Mac continue to make regular changes to their lending standards, some positive for buyers and some negative but generally leaning in favor of relaxing standards and easing the process of obtaining a new home mortgage. While all these comments from last month's report remain true, interest rates are starting to indicate twitches of heading up. The Fed is talking more and more about 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 5.5% which is the lowest rate is several years. Personal spending is increasing and we continue the slow grind up out of the "Great Recession" according to most market pundits. Wage growth is starting to pick up and oil prices remain in the tank, continuing to help our pocket books at the gas station. All these positive 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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