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Douglas Trudeau , Assoc. Broker
Prudential Foothills Real Estate
64 N. Harrison Road, Suite 160
Tucson , AZ 85748
Mobile: 520-954-2209
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Who Else Wants To Know About Home Sales In Tucson?

Home sales may not have been as high as I predicted. But, Tucson’s real estate sales for April remained higher than sales prior to the frenzy of 2004 and 2005. Good news, January through March sales were higher than reported. How close are my predictions? January 966 predicted, 971 sold; February 1,047 predicted, 1,022 sold; March 1,320 predicted, 1,348 sold. For April I predicted 1,453, to date there have been 1,314 recorded sales in the MLS. May I predict 1,531. To date there have been 335 sales for May. How close will May be? Keep checking back.

Sales would be higher if some sellers were more reasonable with their prices. Buyers are showing that they are willing to buy. They are not willing to pay an inflated price. The numbers above do not reflect all the offers that have been written and the seller could agree to a reasonable sales price. Reality is beginning to sink in though. In Price, Price, Price. What are some sellers thinking? I addressed the issue of reasonable pricing of homes.

Tucson remains a strong market. More buyers are looking to buy in Tucson than in Phoenix. Confirming that Tucson is a stronger market. 51.5% of Home Buyers choosing between Tucson and Phoenix choose Tucson. Of those buyers 59% are buying a primary residence, 10% are buying second and vacation homes, 21.3% are Investors. Yes, I said Investors. Who said all the Investors pulled out of the market? In April I wrote about the Tucson Real Estate Market On The Move. The market is still moving up. When looking at sales in 2003, the last reasonable year for the market, Tucson’s real estate is actually healthier in sales.

Primary home buyers are Tucson’s strongest market. When comparing residential sales against income property sales in April residential sales represented 98.6% of all sales.

Investors are turning from buying from just investment properties to more and more single family homes. Why? When reselling property there are more residential property buyers than multi-family property buyers. Investors know this. They are looking for more than short term ROI (Return On Investment). Investors are looking at long term ROI. Buy it, rent it, wait for the market to be right and resell it. That’s a whole different subject.

Buyers looking to buy a home in Tucson can have confidence that they are buying in a solid market. How many days are left for the good deals? Time will tell. There are great deals out there. You just have to filter through all the not so great deals to find them.

This entry was posted on Friday, May 11th, 2007 at 9:57 pm and is filed under Tucson Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Doug - Thanks for stopping by my blog! Lovely tomatoey blog you have here! I’ll add you to me feed reader and be stopping by often!!

May 11th, 2007 // Jay Thompson
[…] I reported Who Else Wants To Know About Home Sales In Tucson? on May 11th about the available statistics at that time for homes sales in the Tucson area. Better numbers are in. Actual home sales were 1,329. Though lower than I anticipated, when compared to previous years, excluding the frenzy years, Tucson’s real estate market remains strong. […]

May 20th, 2007 // Tucson Real Estate Blogs » Blog Archive » April Home Sale Update For Tucson

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