Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
It felt like another slow month, but the statistics have a number of positive things. Median Price went up a little and I was surprised that the average price decreased as Sales over $500,000 went up by 23 homes. Listings under contract went up by about 150 contracts and Closed sales jumped by 107 contracts as I felt it would from last months statistics.
| Sep 2013 | Oct 2013 | Nov 2013 | Dec 2013 | Jan 2014 | Feb 2014 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $189,042 | $192,433 | $191,763 | $202,342 | $197,262 | $196,581 |
Median Sales Price | $155,399 | $155,900 | $159,500 | $157,900 | $157,250 | $158,000 |
Total Units Sold* | 1051 | 1130 | 933 | 1038 | 854 | 961 |
Active Listings | 4717 | 5173 | 5286 | 5150 | 5477 | 5721 |
Days On Market | 47 | 50 | 51 | 54 | 59 | 63 |
Listings Under Contract** | 1868 | 1771 | 1724 | 1506 | 1804 | 1961 |
Sales Over $500,000 | 37 | 47 | 30 | 57 | 40 | 63 |
| 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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The number of Active listings increased by over 300 units and Days on Market jumped to 63. More choices for buyers. The Short Sale and REO properties are decreasing so you will now really work with the Seller to get an accepted contract. This makes for a much better and stable market.
I read an article that said Tucson would be back to the 2006 prices by 2018 which would be great for all the owners that are upside down on their loans. We need a stable housing market that has some appreciation but not what we saw in 2005. That was a big mistake.
We really need our Economy to start back in the right direction and more jobs open up. Too many negatives for business owners right now. I see BIG problems coming with the AHC in about two years when the other boot drops. Medical coverage for the middle class will be expensive. The deductible is going to be a killer.
I know We are getting better, but it really is too slow for most that need help now.
Call me if you’d like me to help you buy or sell Tucson real estate. Reach me at 520-240-7130 or on our website.
Mar 21, 2014 No comments yet Share