Tucson Real Estate Blogs » April Home Sale Update For Tucson

Tucson Real Estate & Golf Properties

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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April Home Sale Update For Tucson

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.

Tucson’s MLS reported only 1,280 sales for the month. Its hard to get the numbers out when so many are late turning information in. As of May 19, 2007 the MLS search for April sales shows what I reported, 1,329.

Days On The Market (DOM) fell a few days from March. April’s DOM was 65, where March was 67. Not a significant number, but, a positive number.

Average Home Sale Price remained stable at $276,426 in comparison to the average sale price in March of $276,486.

Median Sales Price has been on a lazy slow roller coaster ride for 2007. Dropping to $221,472 for April as compared to $219,900, $218,000, and $222,700 for January, February and March respectively.

Summarizing all the information to make sense. What does all this very basic information mean to Sellers and Buyers? Tucson real estate is stable. When comparing the sales of 2003 and before, more homes are selling now than ever before. Look at the chart above. 2006 was the tail of the frenzy with higher than average sales. 2007 sales have remained above that of 2003 and prior. As along as Tucson’s real estate sales remain stable the market will remain strong.

I pose the the questions to Sellers, “Do you want to sell or need to sell?” If the answer is want, I recommend waiting a little longer. The market is correcting itself. High supply without matching demand can only hurt what you can get for your home. If you need to sell, either keep your home on the market or put your home on the market for a current fair market price. Not what homes sold for 1, 2, 6 months or a year ago.

For Buyers, take advantage of a strong market, get out there, find a home and buy it before prices go up.

For home searching or to find the value of your home, feel free to use the features on the left panel. Enjoy and have fun.

This entry was posted on Sunday, May 20th, 2007 at 6:07 am 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.