Tucson's real estate market is in the middle of a correction, providing great opportunities for buyers to get into the home they have always wanted. In August 2005 there were only 180 single family Foothills homes on the market; now, there are over 500 homes available to buyers and there is much more room for negotiation. Fortunately, as buyers, you have the opportunity to view more homes and you have more time to make good decisions on which home best fits your needs and which neighborhood you prefer. Sellers are beginning to realize that they must price their homes aggressively. While the decrease in the median home price is 3%in the Foothill area, we do see individual properties where prices have been reduced substantially. Total Tucson inventory of about 9,300 homes reflects about 12 months of inventory! It is a GREAT time to Buy in Tucson and especially in the Catalina Foothils!
The Catalina Foothills has shown strong appreciation in home values over the past few years, as there is scarce land remaining to be developed. However, that appreciation has stalled. Homes continue to sell quickly where owners are realistic in pricing.
While certain areas of the Tucson market are seeing many price reductions, particularly the northwest and to a lesser degree the southeast, both of which have intense competition with new construction inventory homes, "North" or the Catalina Foothills has remained remarkably stable.
Call 520-400-0505 or 520-404-5533 to learn more of special properties available for you.
ZIP Codes: 85718, 85750 Location Characteristics: What sets Tucson apart from many other cities is its extensive foothill areas. The Catalina Foothills are north of River Road and extend from Sabino Canyon to Oracle Road. Many homes are on acre or larger lots; there is a limited number of townhomes. Lush Sonoran Desert vegetation, saguaros, Palo Verde trees, and a variety of cacti give the area and the many washes a sense of serenity.
About The Murray Group: Barbara and Jack:
Earning your referrals as we continue to maximize your real estate investment. Communicating every step of the way to provide you as "hassle free" and profitable real estate transactions as the market permits.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
