Tucson Real Estate Blog » October

Tucson MLS Statistics October 2011

admin — Wed, 30 Nov 2011 23:27:07 +0000

I think October was good month with all the statistics looking better. I still believe we will hit bottom before the end of the year. Prices and Interest rates are at all time lows and we are seeing more calls to look at properties. Total units Sold did come down but Listings under Contract went up a small amount.

	May 2011	Jun. 2011	Jul. 2011	Aug. 2011	Sep. 2011	Oct. 2011
Average Sales Price	$168,453	$167,172	$173,141	$154,944	$150,699	$151,812
Median Sales Price	$127,000	$126,000	$125,000	$122,200	$117,500	$120,000
Total Units Sold*	1247	1312	1124	1106	1064	982
Active Listings	5795	5566	5412	5167	5155	5290
Days On Market	80	79	76	73	80	74
Listings Under Contract**	2239	2163	2009	2121	2059	2070
Sales Over $500,000	45	51	52	24	19	21

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract)

There are some Bond programs out there for 2.99% that you should look into. Family Housing Resources offers some down payment assistance if you qualify. Did you know you can buy almost any home in the Vail zip code of 85641 with no money down. Closing costs are still required. Call me if you what to talk about this USDA program.

Thanksgiving is just around the corner so I want to wish all my readers a happy Turkey day.

Call me at 240-7130 if you need help.

Tucson MLS Statistics October 2010

admin — Mon, 15 Nov 2010 20:04:08 +0000

Well the other shoe dropped and things are still going down. Most all categories I list have gone in the wrong direction.The only positive item is the Listings under contract which continues to go up since July when we had a big drop.The number of 1899 shows contracts still in escrow at the end of the month. This is probably due to Short Sales and possibly REO listings that are taking time to close and continue to push the number higher as they do not close for a longer time. Over all we really had a down month.

	May 2010	Jun. 2010	Jul. 2010	Aug. 2010	Sep. 2010	Oct. 2010
Average Sales Price	$194,834	$189,231	$192,072	$186,562	$181,612	$177,133
Median Sales Price	$151,000	$149,450	$150,000	$150,750	$145,855	$140,000
Total Units Sold*	1270	1170	792	882	873	752
Active Listings	6742	6852	6668	7170	7217	7412
Days On Market	66	81	87	91	93	97
Listings Under Contract**	963	1154	990	1378	1515	1899

* Closed during the month.
** For the current month (not the total listing under contract)

We did see a large slowing in foreclosure filings, but on November 9th they starting hitting again. I keep running into owners that move out of their homes as soon as they get the Notice of Sale. Why??? There are so many better ways to save their credit, while trying to get a Loan Modification and then a Short Sale if the Mod will not work. Some times they can be in their home for many months before the problem is resolved. The Lenders really do not want the homes back, when the owner could help get it sold and not have to wait a longer time before they might qualify for a new FHA loan.

I can help with your up coming foreclosure or your Notice of Sale which gives you at least 91 days from the date of the filing.

If you are a buyer, prices are at, or near, the bottom and interest rates are at Historical lows. Let me help you get your loan qualification going and find that great home for you.

Call me at 520-240-7130 or our office at 520-296-7143 with your request for help or start that home buying process.

TUCSON MLS Statistics November 2009

admin — Thu, 10 Dec 2009 16:27:10 +0000

The November Statistics show how the $8000 tax credit had a big impact on the Market. We had higher Closed and Listings under contract during October and then things started to drop in November. I have also been seeing fewer showings for this month of December due to the time between the November 30th cutoff of the credit program and the extension of the program. The Short Sales and REO’s got in the way of a quick closing and we still have many months left for Foreclosures and Short Sale properties still entering the market. If you are interested in buying and you may end up with a short sale property you need to get your offer in by mid January to allow time to get the lender approval so you can close before June 30th, 2010. I am experiencing better than 4+ months with Bank of America to approve a short sale.

	Jun. 2009	Jul. 2009	Aug. 2009	Sep. 2009	Oct. 2009	Nov. 2009
Average Sales Price	$208,952	$210,767	$199,626	$196,755	$195,258	$188,384
Median Sales Price	$165,000	$167,830	$162,595	$163,000	$158,000	$162,500
Total Units Sold*	1139	1184	980	945	1063	1011
Active Listings	6261	6075	6062	6008	6213	6350
Days On Market	80	80	71	80	71	73
Listings Under Contract**	1432	1227	1274	1333	1287	947

* Closed during the month.

** For the current month (not the total listing under contract)

Bank of America is now using a new online program to work through the approval process. I had one of my listings with a buyer contract placed into their new system first started as REO-TRANS, and now called Equator. It looks good but I still see the same delays on their end. The faxing is not used now as everything is scanned in as a PDF file. May be hard on the seller to do some of the scanning. Lots of changes. I see I am now allowed to use this method with all of my Bank of America short sales. I also see that two other Lenders will be going into the same system.

If I can help you with a sale or purchasing a property please call me at 240-7130.