Brenda's Tucson Housing Market Report
October 2014

Fall Selling Season Begins

Weather is Fantastic, Golf Courses are Full and Buyers are out in Force

Average Days On Market = 59 ~ Sales Price as a % of List Price = 97.14%

Market Activity: September was another solid month although sales dipped again this month (by 1.24%) over same period last year. We've been listing new homes like crazy and expect to see strong sales activity for October and November especially.

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. Contact us and we can help you too:-)

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 2014 Report show:

Total Tucson Homes Sold: 1,038, Decreased 1.24% from September of 2013. Decreased 1.24% from last month.

Total Tucson Homes Under Contract: 1,683, Decreased 9.9% from September of 2013. Increased 1.69% from last month.

Tucson Median Sale Price: $165,000, Up 6.18% from September 2013.
Oro Valley Median Sales Price: $262,000, Unchanged from September 2013.
Catalina Foothills Median Sales Price: $350,000, Up 14% from September 2013.

Total Tucson Active Listings: 5,437, Up 15.26% from 4,717 in September of 2013.
Northwest Tucson Active Listings: 1,563, Up 165 units from last month.
Catalina Foothills Active Listings: 597, Up 42 units from last month.

Total Tucson New Listings: 2,129, Up from 2,014 New Listings in September of 2013.
Northwest Tucson New Listings: 608, Up 90 units from last month.
Catalina Foothills New Listings: 217, Up 17 units from last month.

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

Positive Market Indicators this month: Total Sales Volume was up 5.29% from last year, Average sale price was up 6.61% over last year, Days on Market is dropping again and now stands at 59, Average list price was up 6.48% over last year and Median sales price was up 6.18% year over year.

Negative Market Indicators this month: Total units sold continue to slow as we head into fall. Active listings were up 15% over last year (good for buyers, bad for sellers).

Market Outlook: This years annual end of summer lull seems to be a little longer than normal but we expect the market to start picking up rapidly in October & November. Despite all predictions, interest rates continue to remain low, Lenders continue to slowly ease credit standards for home loans and there's lots of housing inventory currently available.

The National Economy continues to slowly improve with more jobs and lower unemployment. We continue to expect stronger economic numbers for the 3rd and 4th quarters which should further stimulate the real estate market both locally and nationally.

The FED is expected to announce the end of Qe3 this month. Most economists predict the FED will begin slowly increasing rates sometime in mid 2005, although any robust economic indicators in the next quarter or two could move that rate increase forward into the first half of next year. We monitor this closely as it is a precursor to increased mortgage rates.

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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