Brenda's Tucson Housing Market Report
February 2015

2015 is off to a good start. Warm Weather came early this year

If you're buried in snow, come on down. It's February with temps in the mid 70's and Sunny!

Average Days On Market = 70 ~ Sales Price as a % of List Price = 97.14%

Market Activity: January 2015 was solid and we were very busy averaging 3 sales a week. February is starting off Gang busters, we sold 6 homes the first week and expecting more. Lots of new listings out there so now's the time to look. If you're coming down to Tucson for a winter break, why not look at a few homes while you're here. It's fun and you might just be surprised at how much home your money can buy here. 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 February 2015 Report show:

Total Tucson Homes Sold: 805, Decreased 1.91% from January of 2014. Decreased 25.19% from last month.

Total Tucson Homes Under Contract: 1,764, Decreased 2.21% from January of 2014. Increased 35.28% from last month.

Tucson Median Sale Price: $160,250, Up 1.91% from January of 2014.
Oro Valley Median Sales Price: $254,000, Up 3% from January of 2014.
Catalina Foothills Median Sales Price: $315,125, Up 12% from January of 2014.

Total Tucson Active Listings: 5,803, Up 5.95% from 5,477 in January of 2014.
Northwest Tucson Active Listings: 1,677, Up 80 units from last month.
Catalina Foothills Active Listings: 684, Up 49 units from last month.

Total Tucson New Listings: 2,416, Up from 2,289 New Listings in January of 2014.
Northwest Tucson New Listings: 674, Up 283 units from last month.
Catalina Foothills New Listings: 295 Up 152 units from last month.

Some quick conclusions we can draw from these Tucson home sales statistics are:

Positive Market Indicators this month: Average list price was basically flat over same period last year while the Median sales price was up 1.9% over same period last year.

Negative Market Indicators this month: Average sale price was down a fraction (1.21%) over same period last year. Total sales volume was down 6.94% over same period last year and Total Unit sales were down 5.74% over same period. Active listings were up 5.95% over last year (good for buyers, bad for sellers).

Market Outlook: While the numbers this month indicate a small slump on the overall market we were very busy having one of our best months in many years in January. We were also slammed the first week of February and expect this month to be a very strong month for sales.

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.

The National Economy continues to improve with a very positives jobs report issued last week. The public now appears to be "On Board" and believing that the recovery is actually real. Wage growth is starting to pick up and the drastic decline in gas prices is putting more money in the pockets of most Americans. All these positive signs point to a stronger real estate market 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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