Brenda's Tucson Housing Market Report
March 2015

Spring Has Sprung, at least down here in Sunny Arizona

Spring in Arizona, the golf courses are full, buyers are out in force and all is well

Average Days On Market = 69 ~ Sales Price as a % of List Price = 96.82%

Market Activity: February 2015 was an incredible month for the real estate market here in Tucson. All market indicators improved on strong sales activity and steadily increasing prices. This is a solid market with much more room to run. There is a lot of new inventory out there, the weather's fantastic and rates are still low so now's the time to look. 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 March 2015 Report show:

Total Tucson Homes Sold: 935, Decreased 2.71% from February of 2014. Increased 16.15% from last month.

Total Tucson Homes Under Contract: 1,993, Increased 1.63% from February of 2014. Increased 12.98% from last month.

Tucson Median Sale Price: $167,000, Up 5.70% from February of 2014.
Oro Valley Median Sales Price: $299,000, Up 5% from February of 2014.
Catalina Foothills Median Sales Price: $310,000, Up 7% from February of 2014.

Total Tucson Active Listings: 5,857, Up 2.38% from 5,721 in February of 2014.
Northwest Tucson Active Listings: 1,669, Down 8 units from last month.
Catalina Foothills Active Listings: 724, Up 40 units from last month.

Total Tucson New Listings: 2,387, Up from 2,085 New Listings in February of 2014.
Northwest Tucson New Listings: 627, Down 40 units from last month.
Catalina Foothills New Listings: 316 Up 21 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 16% from last month. Average list price up 7% over same period last year while the Median sales price was up 4% over same period last year. Total Sales Volume was up 24% over last month. New Listings decreased 1% over last over last month.

Negative Market Indicators this month: None, Market looks strong heading into spring.

Market Outlook: We are smack dab in the middle of our traditionally strong spring selling season. February numbers were virtually all on the positive side and March is looking good too. We expect March to be another 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 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 provide support to improving real estate markets across the nation.

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

2014 (Year in Review) Tucson Multiple Listing Service Report Pending - Waiting on Tucson MLS

Brenda's 2014 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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