Home Prices in the Tucson Foothills for June 2017

Home Prices in the Tucson Foothills for June 2017

Real Estate market data for the Tucson Foothills, AZ provided by Charles  Weasner and Steve Redmond – Associate Brokers with Long Realty Foothills.


Tucson Foothills Home Prices

Shrinking Inventory, Shorter Days on Market and Rising Prices summarize home prices in the Tucson Foothills and don’t expect things to slow down anytime soon.  If you are considering buying a home you can still find deals on a house in the Tucson Foothills  but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the Tucson Foothills home on which you are making an offer.

 

If you are interested in how much current inventory is on the market in the Tucson Foothills  you can find that information by clicking on the link. Low inventory suggests that homes are sitting on the market for a shorter time. Currently in this area of Tucson, homes have a average time of 52 days on the market before they sell. This would suggest that this is not the time for buyers  to make aggressive offers on a home. Sellers are pricing their homes at or above the market value in many cases as it’s a Sellers Market below the $500,000 price point.  Low inventory in Tucson  has multiple offers coming in on homes similar to what we saw back in 2005. Home prices aren’t  running up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise. Again a good reason to arm yourself with a seasoned professional who knows the market.

 

 

Tucson Foothills Real Estate Report Summary

Months of Inventory is 3.3% down from 4.9% in May 2016.

The median sale price in August for single family homes is $330,000. Up 4% from May 2016.

The number of homes closed through May 31st was 146, up 8% from May 2016.

The level of new properties under contract (150) is virtually unchanged from May 2016.

Year to date there have been 664 closings a 14% increase from the same year to date period in 2016.

 

Click on Image above to get your copy of The Housing Report for all areas in Arizona.


Find Homes for Sale in the Tucson Foothills

Visit our website to search for homes in the Tucson Foothills or to be notified when Tucson Foothills Homes come on the market.

To get three estimates of what you home is worth in the current market CLICK HERE or for a more accurate assessment call 520-906-8103.

 

 

 

Steve Redmond

I'm so fortunate to be doing something that challenges and invigorates me. I have been a Tucson REALTOR® since 2003. I have over 30 years dealing with the public through Tucson Real Estate, Retail and Personal Service. I served as the 2014 President of the Tucson Association of REALTORS. I am currently serving as a Director (by Special Appointment) on the National Association of REALTORS® Board of Directors. Locally serving as a Director on the Tucson REALTOR® Charitable Foundation. For the Arizona Association of REALTORS® I'm serving on the Business Services and Technology Committee, The Legislative Committee and the newly formed Diversity/Inclusion Forum. Locally I'm beginning my 11th year serving on the Tucson Weekly Home Tour Committee. At Long Realty I have served on our Branch Advisory Council and have served on the Technology & Recognition committees of past. As you can see I like to get involved. By being involved I give back to my Real Estate Community and hopefully contribute something of value heading forward. In 2011,2012&2014 I brought Real Estate Barcamp Tucson to Town with a whole lot of help from my friends. RE Barcamp Tucson is a cutting edge educational event geared towards the Real Estate Community and associated support businesses

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