Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
After looking at the August Statistics I see another month just like July. The numbers all support this feeling, but I am seeing more showings and some low offers that usually do not go anywhere with the Sellers. If the buyer can not pay fair market value what are they doing writing offers? Many homes have made it into the Rental market during these past years and the Owners are seeing a fair return for renting out their ex homes.
Next month should see a little lower numbers than July, but I do see us going back up in Sales the following month. Inventory is still low for Tucson and that will help Sellers. Rents for 2000 Square Foot homes with AC and garage is still about $1000 on average. Prices are a little higher in the Vail school district.
| Mar 2015 | Apr 2015 | May 2015 | Jun 2015 | Jul 2015 | Aug 2015 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $208,673 | $210,749 | $216,517 | $219,370 | $210,570 | $211,068 |
Median Sales Price | $172,000 | $167,500 | $171,250 | $173,000 | $175,000 | $173,250 |
Total Units Sold* | 1275 | 1383 | 1388 | 1481 | 1470 | 1276 |
Active Listings | 5721 | 5487 | 5250 | 4992 | 4798 | 4758 |
Days On Market | 68 | 67 | 62 | 60 | 61 | 63 |
Listings Under Contract** | 2294 | 2336 | 2252 | 2114 | 1979 | 1846 |
Sales Over $500,000 | 47 | 66 | 71 | 77 | 61 | 52 |
| 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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Interest rates are under 4% for the moment, but I do expect them to start back up next month. Re-finance now to take advantage of the rates. David and I are always available to talk investment homes. Homes bought now should retain their value, with nice increases over the years to come. It will make a nice retirement income or savings for retirement and someone else paid for it. A home you plan on living in is just like that same investment, if you treat it right. Just remember it is not a piggy bank when times are good. If you put a second loan on it, you may get in a position that many are still working their way out of today.
We operate a very good Property Management Department within our company and it would be worth talking to David if you are looking to change Management companies. He is very hands on with his owners, if they need it. Our Management program allows you to see exactly where you stand as we move towards tax time.
Call us at 520-296-7143 to speak to either of us. Jacque will give you our cell number if we are not in.
Sep 16, 2015 No comments yet Share