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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March 2008 Preliminary Real Estate Sales Report
I am sure that there are a lot of people wondering how the Tucson real estate market fared during March of 2008. The official count of sales for February was 710. March saw an increase of nearly 26% with 892 sales. That is a solid increase considering all the scare about today’s market.
Historically the increase between February and March is 28%. We experienced a 26% increase; the difference of 15 home sales. I know those 15 other home sellers would appreciate that 2% increase. With 8,965 homes on the market, falling off by 15 sales is not a bad fall. Not even enough to warrant a bandage.
The Average sales price was $285,000 with a median price of $200,000. The lowest sales price was $25,000 while the highest was $2,250,000.
Of the 892 Tucson real estate home sales for March, 32 were golf properties. The average sales price for golf properties was $390,000 with a median sales price of $330,000. The low was $172,000 with a high of $1,275,000. Golf properties continue to lead in average and median price.
Of course March 2008 sales were not that of 2007, 2006, or 2005. We did see a healthy increase from the previous month. The market isn’t dead or dying. With the election year ahead of us we will see a slow housing market recovery as well as a slow economic recovery. Interest rates have not seen a significant increase. Could the market be better, of course if could. Could the market be worse, you better believe it. See you next month for the April report. Don’t forget to visit Dave and Kelly for their reports. I always enjoy what they have to say.
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