Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Well again it looks OK, but that is all I can say. We are just staying even in our Sales without a real change that I can see. We are up and down in each statistic for each of the past six months. I do not see good growth in Sales that we should see in a Recovery.
| Nov 2013 | Dec 2013 | Jan 2014 | Feb 2014 | Mar 2014 | Apr 2014 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $191,763 | $202,342 | $197,262 | $196,581 | $200,479 | $197,066 |
Median Sales Price | $159,500 | $157,900 | $157,250 | $158,000 | $162,000 | $164,900 |
Total Units Sold* | 933 | 1038 | 854 | 961 | 1131 | 1301 |
Active Listings | 5286 | 5150 | 5477 | 5721 | 5705 | 5466 |
Days On Market | 51 | 54 | 59 | 63 | 62 | 65 |
Listings Under Contract** | 1724 | 1506 | 1804 | 1961 | 2173 | 2127 |
Sales Over $500,000 | 30 | 57 | 40 | 63 | 47 | 50 |
| The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables. * Closed during the month. ** For the current month (not the total listing under contract) |
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This has been the worst recovery of a down economy that I can remember. Jobs are scarce and I think we are going in a negative direction. Obama care is a farce that will show its ugly head starting in November of this year. I am already seeing it with someone I know that the company they work for is dropping the provided insurance and giving a pay raise to the employee. The problem is the cost of that persons medical is going up over $400 per month above their net pay with the raise included. Now how is that a savings as promised? Watch out this November when all the delays that Obama enacted on his say hit the public. $400/month will be a common factor. When this happens watch out in all the markets including housing again. $400 changes your ability to purchase a home.
Real Estate is still a good investment for you, but it may require a downsize in what you were hoping for. The new home builders need to explore smaller, well designed entry homes. The prices are still around $175,000 or higher, and that will be a hard sell for the builders.
We are putting up a new website that we hope you will like. This Web site will stay active but we will be updating and removing things.
I hope you call me for any help you might need regarding Tucson real estate or property management.
May 16, 2014 No comments yet Share