Tucson MLS Statistics April 2010

The highlights from the April Tucson Multiple Listing Service statistics are encouraging.  Monthly sales volume is up 4% over last month, and up over a whopping 36% over April 2009!  The total unit sales number is up nearly 5% over March 2010, and over 30% over April last year.

Monthly inventory of new listings in the Tucson Real Estate Market decreased 2.95% from March, but overall increased 31.30% over April 2009.  Active listings decreased 2.99% over last month and 4.17 over April 2009.

Pending sales in Tucson increased slightly by 1.23% in April from March and an impressive 16.58% over last April.  See the full Tucson Multiple Listing Service statistic report, including detailed charts and graphs, here.

 The Federal homebuyer credit expired April, and it will be interesting to see what the end of May reveals.   According to the National Association of Realtors (NAR), existing home sales rose in April.  For more information visit the NAR website here.

Denise McCreary

 

The Value of Monthly Statistics

Our monthly statistics provide us with valuable information to share with prospective clients, as well as those we’ve done business with in the past.  It is a snapshot of what’s happened in the Tucson Real Estate Market during the previous month and suggests trends that may be different from what we, as agents, individually, are experiencing.  However useful these reports may be, nothing can compare with the specific research your Realtor can provide.

According to the Tucson MLS August Statistics our percentage of homes sold rose by over 11 percent over July.  This was an unexpected surprise.  I had anticipated a dip in sales due to the expiration of the First Time Home Buyer Tax Credit.  Our median sales price continues to hover at around $150,000.  Although new listings have decreased over 20 percent, our number of active listings is the highest to date, up 7.5% over the previous month.  Corresponding to this, we saw that the days on market in many areas of the Tucson Real Estate Market rose from low to high 90’s in some areas.  You can read the full report, including detailed charts and graphs here.

For the research tailored to your specific Tucson Real Estate needs, visit my website .

Denise McCreary

The Fortune Is In the Follow Up!

When we, as real estate agents take a listing, we are employed through our broker by the homeowner. Before the listing appointment, I provide the seller with my “pre-list” package, a 3 ring binder containing all of the listing documents, the market analysis, and my listing plan of action. 

My listing plan of action contains 20 or so actions I take to sell a home in the Tucson Real Estate Market.  Among those items is a promise to “follow up with all the agents who have shown your home…for their feedback and response.” 

The following is a testimonial from a client in Tucson, Arizona, whose home I recently listed and sold which illustrates beautifully how a simple phone call to the showing real estate agent can lead to a sale.

 “…We contracted with Denise McCreary at the very end of January to be our real estate agent.  She first made a number of recommendations to us that would enhance our chances of finding a buyer.  We painted the entire unit, turned an otherwise unattractive patio area into a very nice garden complete with a tiled patio and a bubbler watering system and after she visited a number of other units for sale in the complex, she strongly suggested we adopt a sales price that was just slightly lower than any of the other units of equal size.

But what we think really enabled us to sell when no others were moving was attributed to her follow up techniques.  She kept a log in the townhouse for all who visited to sign.  When people were shown the unit by other agents she followed up with them and through this method she found a couple who “liked our unit and would consider buying it if we would consider converting a small upstairs bedroom into a loft”.  We agreed to have this done and the sale was completed.  Had she not followed up with this couple we would have never known they would buy our unit if we would make such a small adjustment.  The conversion we are talking about only cost about $1,500.  Well worth it when we were trying to sell this home in this market.”   B. Dover

Tucson Fests in October

October is by far my favorite month in Arizona.  “Good things come to those who wait.” And we do wait-by the middle of September Tucsonans have pretty much had it with the relentless heat.  We say things like, “I’ll be so glad when October gets here,” and, “It won’t be long…”  It’s magical the way the 1st of October usually brings a significant dip in temperatures.  We’re now enjoying low to mid 80′s by day and mid to low 50′s at night.  We can open the windows and let the fresh air in!  For those of us who live here year round, it’s time to start planning those camping and fishing trips, take a hike in Sabino Canyon, or drive up to Mount Lemmon to enjoy the beautiful golden aspens.  We just enjoyed a relaxing weekend of RVing, boating and fishing at Patagonia Lake State Park.
Snow birds will begin their annual return this month, bringing with them golf clubs, tennis rackets and a renewed interest in the community.
Here are just a few of my favorite fall activities taking place in Southern Arizona:
Fall Pumpkin Festival- Oct. 10-31, Apple Annie’s Produce and Pumpkins, Wilcox

Scarecrows in the Garden- Oct. 17-Nov. 30, Tucson Botanical Gardens

All Souls International Film Festival-Oct. 29, Loft Theater

Day of The Dead Alter-Oct. 30-Jan 5, Tucson Museum of Art

For more listings, go to www.visittucson.org on the web.

Denise McCreary

September 2009 Tucson MLS Statistics

Active listings continue to go down, a trend we’ve been experiencing all year.  We anticipate this trend to continue into October and November as first time home buyers take advantage of the tax credit.

Here are the highlights from the 3^rd Quarter Summary:

• Total unit sales up 39.48% over 1^st Qtr
• Average median sales price down 1.71% over 1^st Qtr
• Average sales price down 3.80% over 1^st Qtr
• Average active listings down 19.99$% over 1^st Qtr
• Average days on market slightly down with YTD average 80 days
• Pending contracts up 4.63% over last month
• Pending contracts increased 9/08 to 9/08 59.45%

Click here for the full report, including comprehensive charts and graphs.  If you are considering selling your home at this time, I’d suggest looking at the Active/Sold by Zip Code chart at the bottom of page 2.  This is telling, in that you can calculate months of inventory by dividing #Active by #Sold.  For example, in the 85712 zip code there were 158 active listings and only 19 sold in September.  19 into 158 equals a little over 8 months of inventory.  19 divided by 158 equals 12 (%) of the inventory sold in a month.  If you want your home to sell quickly, you will need to price, market and stage it so that it will beat the competition.  How can you position your home to be in the small percentage of homes sold versus the larger group of unsold properties?

Denise McCreary

July 2009 Tucson MLS Statistics

July’s Tucson real estate statistics reveal a continued uptick in the market with with unit sales up, 3.9% over last month, 23.46% increase over July 2008 and 90.05% over January 2009 numbers.    Although average sales prices are down 17.3% over last year, it remains consistent with the average list price being down by 17.44% and the average median price being down by 16.04% over July 2008.

Pending contracts are down 14.32% over last month but, up over July 2008 counts by 27.81%.We continue to see a decrease in inventory with total active listings (6,075) being down 21.04% since January 2009, and at the lowest since December 2005 (5,457 units) and January 2006 (6,499 units).

The northwest continues to have the largest inventory with over 1500 active listings compared to the second largest central area with 738.  Average days on market are still at 80 with the north area’s highest at 102.  You can study the full report here.

I’m seeing increased inquiries from buyers and sellers alike.  I’ve received two calls in the past week from buyers wanting to find a good deal in Tucson Country Club.  Move up buyers especially need to realize the advantages in today’s real estate market.  Although you may not realize the returns of the past on the sale of your current residence, if you are moving up in price range, your net savings will be worth it!

The time to buy real estate in Tucson is definitely now.

 Denise McCreary

 

 

 

 

 

 

The Simple Life

According to a recent article in USA Today and AARP The Magazine, Tucson tops the list of the Best Places to Live a Simple Life.  Demographers used figures from the US Census Bureau and other sources in their evaluation.

From a list of 25, then pared down to 10, it was decided that Tucson was number one in terms of places one could live simply.  Here’s the list of the cities:

1. Tucson
2. Greenville, S.C
3. Montpelier, VT
4. Logan, Utah
5. Ames, Iowa
6. Northampton, Mass
7. Lexington/Fayette, KY.
8. Texas Hill Country
9. Oxford, Miss.
10. Walla Walla, Wash.

The demographers looked at affordability and low rates of unemployment, as well as factors including the ability to walk and bike.  Also included were the availability of “outdoor amenities”  such as farmer’s markets and hiking trails.  Visit the Metropolitan Tucson Convention and Visitors Bureau website to explore the many outdoor amenities we have to offer.

Another factor considered in the evaluation was the “stress index”.  This measure takes into account our low rates of suicide, crime, divorce and depression.

Great education played a role in the measure; a plus is the proximity to colleges and universities.  The fact that Tucson is home to University of Arizona helped boost our fair city to the top of the list.

We do enjoy an affordable lifestyle here in Tucson, as well as the many wonderful and diverse opportunities to enjoy our community. Residents rave about Tucson’s multicultural, melting pot feel.

Tucson’s Mayor Bob Walkup, self proclaimed “Mayor of Paradise” says he wasn’t surprised to hear his city was at the top of the list.  He believes we have the best quality of life in the country, adding that our temperate climate and low crime rate make it an ideal place to live.

It’s our abundance of sunshine that simply makes one feel good!

I invite you to check us out, investigate our affordable Tucson Real Estate and start enjoying Tucson Arizona.

Denise McCreary

Housing Up!

Media sources report today that new home sales rose an historic 11%–the largest increase in 8 years.  Buyers took advantage of  low interest rates, bargain prices, and the first time homebuyer tax credits.  Some economists are saying that the worst of the recession is behind us.  Is it possible that these two bits of good news could cause the public to finally rally the housing market?  Although shares of big builders soared with the news, continued falling prices may prevent big profits to these companies in the near future. 

Reporting on the existing home market, the National Association of Realtors reports that sales are up again 3.6% in June.  Lawrence Yun, NAR chief economist is hopeful about the gain.  This trend mirrors ours here in the Tucson Real Estate Market, with inventories dropping and prices declining less sharply.  Read my post here for the full market report.

What does this mean for Tucsonans?  Buyers, you are on top!  In the Luxury market, I’ve found many great deals to be found in the Foothills areas.  I conducted a search for Short Sales in the Foothills and found more than a dozen good listings between $500,000 and $700,000.  If  you are in a position to move up there has NEVER been a better time to purchase your dream home than right now. 

Denise McCreary

Summer in the Desert

Summers in Tucson offer a different experience than what our visitors normally  find in the winter and spring.  Tourist  and winter visitor traffic falls off, making getting around town much quicker and easier.  Our resorts have been advertising “Staycations”, with bargain rates targeted at getting the locals to enjoy an easy weekend getaway.  The pace slows down and everything happens with regard to the heat of the day.  It’s sort of like the cabin fever you northerners experience in the dead of winter.  We tend to do our outside chores at sun up, wearing big hats and long sleeves for sun protection.

But in the midst of oppressive heat come  the monsoons–that glorious time of year when the clouds gather late in the day and the heavens bless us with spectacular rain storms and the fragrant smell of creosote bushes.  The creosote bush, or larrea tridentata, is native to the southern third of Arizona.  It’s a great example of a plant’s ability to adapt to tough conditions.  The creosote has small waxy resinous leaves which emit a wonderful pungeant aroma after a rain.  When I came to Tucson in the summer of 1986 I had never experienced the desert.  The smell of creosote in the rain became something that triggered that “ahhh” feeling in my brain.  It makes me happy;  it reminds me how much I love living in Tucson.  My friend Pam who spends the winters in Tucson sometimes sends creosote cuttings to friends with a note saying, “This is what the desert smells like.”

Come to Tucson– enjoy the summer monsoons and that fragrant freshness the rain brings!

Denise McCreary

June 2009 Tucson MLS Statistics

June closed out the first half of 2009 breaking records for the year!  Home sales volume was up over May by 14.63%, average sales price was up by 3.06%, pending contracts were up by 9.98%, and home sale units were up by 11.23%.

 With the first 6 months of 2009 behind us we can now take a realistic view of the absorption of inventory which has moved in a positive direction with June pushing that number up to 22.9%. Even though we have a long way to go, these numbers show a positive sign.

 Activity by zip codes shows us that 85718 continues to have the highest number of active listings at 415 with 85750 taking second at 323.  There are many good deals to be had in these areas.

 All in all, we’re looking forward to the second half of 2009 with high hopes of the continued trend of recovery in Tucson’s Real Estate Market.

 First time home buyers have an unprecedented opportunity for three reasons:

• The $8,000 Federal Tax Credit for First Time Home Buyers (including those who have not owned a home for 3 years)
• Historically low interest rates
• An abundance of relatively low priced listings (the Tucson Real Estate Market currently has over 2,700 active listings priced under $200,000!)

There are opportunities for Luxury Home buyers as well in that there are over 1,000 active listings priced at $500,000 and above.

You can read the full report here.  Make the decision to participate in the American Dream and enjoy the benefits of home ownership.

Denise McCreary