Brenda's Tucson Housing Market Report
August 2015

Dog Days of Summer

As summer comes to an end, the market remains robust

Average Days On Market = 61 ~ Sales Price as a % of List Price = 97.14%

Market Activity: July is the 5th consecutive month where unit sales exceeded the same period the prior year! It appears that summer this year is coming in much stronger than summer of 2014.

Listing inventory has been dropping for the last 5 months, however, there's new listings every day so plenty of great homes to take a look at. If you're a buyer, now is a great time to buy before prices start heading up into our fall selling season. Buyers, If you want a quick real estate tour, Contact us, we'd love to show you around!

If you're a seller, this is a great time to sell! The market's been hot all summer and not only in temps. Homes are selling at a faster pace than last year. Treat every showing as serious and make your home sparkle! Sellers, If you want a top notch agent to list your home, Contact us, we'd love to help you sell your home!

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 August 2015 Report show:

Total Tucson Homes Sold: 1,470, Increased 25% from July of 2014. Decreased .74% from last month.

Total Tucson Homes Under Contract: 1,979, Increased 8.14% from July of 2014. Decreased 6.39 from last month.

Tucson Median Sale Price: $175,000, Up 2.94% from July of 2014.
Oro Valley Median Sales Price: $255,000, Down 17% from July of 2014.
Catalina Foothills Median Sales Price: $323,750, Up 3% from July of 2014.

Total Tucson Active Listings: 4,798, Down 6.82% from 5,149 in July of 2014.
Northwest Tucson Active Listings: 1329, Down 66 units from last month.
Catalina Foothills Active Listings: 566, Down 15 units from last month.

Total Tucson New Listings: 1,765, Down from 1,786 New Listings in July of 2014.
Northwest Tucson New Listings: 466, Down 77 units from last month.
Catalina Foothills New Listings: 174 Down 5 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. Average Sales Price was up year over year. Median sales price was up year over year and month over month. Total Sales Volume was up 28.23% year over year.

Negative Market Indicators this month: None, Market remains unusually strong as we move through our summer season.

Market Outlook: We are experiencing a stronger than usual Summer Season. This strong momentum bodes well for a very strong Fall selling season. We expect the next few months to be stronger than last year. Interest rates are beginning to creep up but so far that has not impacted sales.

The National Economy continues to slowly improve, Almost all economic data points continue to slowly grind upward continuing 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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