Brenda's Tucson Housing Market Report
October 2011

September - Dog Days of Summer

Market just sitting there - Not much change this month

Generally just a good solid month, nothing special but not bad at all. We are now entering the campaign season in earnest. We are expecting everybody to be focusing on the Economy with both parties doing everything they can to stimulate the economy (and take credit for it in the campaign) We don't care who gets the credit, lets just get this economy going!

Average Days On Market = 80 ~ Sales Price as a % of List Price = 95.45%

Sales Volume Increasing Year over Year: Sales Volume increased 1.13% over September of last year. Prices still creeping down, Sales still stronger than last year. Lots of homes selling, just lower prices which brings the total dollars sold up.

Days on Market: Little spike up this month to 80. This time last year it took 93 days to sell a home here.

Active Listings Approaching 5,000: Active listings have now declined to 5,155 units. These are numbers we haven't seen in 5 or 6 years. We don't believe we'll be able to drop below 5,000 units this year however. As we predicted last month, new listings are up this month (4.15%) Look for another increase in new listings next month.

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 October 2011 Report show:

Total Tucson Home Sales Units: 1,064, Increased 21.88% from September 2010. Decreased 3.80% from last month.

Total Tucson Homes Under Contract: 2,058, Increased 35.84% from September 2010. Decreased 2.97% from last month.

Tucson Average Sale Price: $150,699 Down 17.02% from $181,612 in 2010.
Northwest Tucson Average Listing Price: $205,082 Up from $200,298 last month.
Catalina Foothills Average Listing Price: $376,405 Up from $327,397 last month.

Total Tucson Active Listings: 5,155 Down 28.57% from 7,217 in September of 2010.
Northwest Tucson Active Listings: 1,374 Up 67 units from last month.
Catalina Foothills Active Listings: 538, Up 21 units from last month.

Total Tucson New Listings: 1,256, Down 424 units from 1,680 in September of 2010.
Northwest Tucson New Listings: 327, Up 20 units from last month.
Catalina Foothills New Listings: 121, Up 17 units from last month.

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

Positive Market Indicators this month: Sales volume continues up Year over Year, Units Sold increasing Year over Year, Inventory Declining with Active listings now at 6 year lows, 5,155 units.

Negative Market Indicators this month: The only negative in this market is that prices are still declining, The Banking System & a general wide spread lack of confidence by the public is the problem.

Market Outlook: September was just more of the same as we just drifted a bit prior to fall. We are now more optimistic about October and are expecting the market to be very active. We are predicting a Strong October which we hope will carry over into November.

More Good News on the National Housing Front: U.S. Existing Home Sales Jump 7.7% To Five Month High In August read full article

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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