Inventory reduced again, home prices moved higher, and activity has increased all over town! May's MLS statistics show 6,506 homes are now on the market - 5.5% lower than last month, and 23.7% lower than last May. Once again, pending home sales have increased, while inventory has decreased - continuing the trend since January of this year. If you or someone you know, could benefit from (or have any questions about) the $8,000 first time home buyer credit, please let us know!
987 homes sold in May, up from April's 923 sales, still down 7.76% from last year's 1,070. Average days on market inched up a little, from 79 to 85. Both median and average sales prices are slightly higher than last month. The median price went up about $6,000 from April to May, which is still about 15% less than last year. The average sales price went up about $8,000 from April, still about 19% less than last year.
Pending sales for May were 1,302 - just 39 fewer than April, but still 12% less than last year. 1,704 new listings came on the market in May, the same number as in April, and 25% fewer than last May.
RealtyTrac reported 1,792 new foreclosure filings in May 09 for Pima County. According to John Strobeck's housing letter, there were 363 foreclosure home closings in April, about 35% of all resale home closings.
With interest rates still at historic lows, and the first time home buyer credit closing deadline of November 30, now is the time to get started if you've been waiting to buy a home! This is also great news for Sellers who have been waiting for the market to stabilize, and for Buyers to return to the market.
We have monthly reports for each area of town (North, Central, East, etc.) at our website; just click on the link below. In addition, our research department can generate a two year trend analysis report, by month, for your specific neighborhood or zipcode, so just let us know if this would be helpful to you.
You can see the Tucson Association of Realtor's full, MLS statistics at this address: http://www.tucsonrealtors.org/tar-2/MLS_Stats_May.pdf
We are always happy to hear from you and those you refer to us! Whether to provide information, a current market analysis for your home, or help in Buying or Selling property!
800-453-7653 or 520-235-3973 or Herr@TucsonMoves.com
Approximate Location Boundaries: Greater Tucson Area including Oro Valley, Marana, Catalina, Vail, & Sahuarita
About Janie & Barrie Herr:
Janie and Barrie have been providing personal and professional Real Estate Services for sixteen years, and have been investing in the Tucson market for over twenty seven years. They have helped hundreds of families Relocate to Tucson, Oro Valley and Southern Arizona. Their knowledge and experience is an asset to the Buyers and Sellers they help, whether it is to Buy, Sell, Invest, or Exchange.
Barrie has been active in "Green" initiatives since the 1980's and has earned the National Association of Realtors GREEN designation. They both continue to deepen their knowledge of their profession, in part by earning designations, and have the "Accredited Buyer Representative" (ABR), the "Certified Residential Specialist" (CRS), the "Graduate of the Realtor Institute" (GRI), the "Internet Professional" (e-PRO), and hold a Broker's license.
Civic and community activities include Board Membership of "Our Family", this year serving as President; serving as a Mediator and Ombudsman, Board membership of Tucson Clean and Beautiful, and serving on the Tucson Association of Realtors committees. A donation to the "Long Realty Cares Foundation" is made from every closed transaction.
Each client and their situation is unique, and they personalize their services for every client they serve. It is a testiment to their dedication and diligence that they are in the top 2% of Tucson Realtors, and many of their new clients have been personally referred by past clients.
Not all Realtors are alike ... Janie and Barrie will show you why! Visit either of their websites: www.TucsonMoves.com or www.GreenHomesTucson.com and contact them to Buy or Sell with confidence!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
