Tucson Top Real Estate Market To Watch in 2014

    Tucson Top Real Estate Market To Watch

    Now more than anytime in the history of real estate it is important to consult with your local realtor. Real Estate is a local market. Whether you are a home owner, renter, investor, or relocating to Tucson the residential real estate market is quickly changing. During the downturn at our lowest point, our home prices were close to 2003/2004 real estate stats. As 2013 comes to a close,  the home prices have gone up about 10% from this same time last year. The momentum is expected to continue into 2014. Is is so important to find out what is happening in your neighborhood.

    In Tucson, the median price of sold homes was $155,000 for the month of October 2013, up 8.6% from October 2012.
    Oro Valley
    Closings: 48
    Month of Inventory: 5.9
    Median Price of SOLD: $270,000
    North Tucson
    Closings: 95Tucson Real Estate Market Absorption October 2013
    Month of Inventory: 5.9
    Median Price of SOLD: $366,000
    Northeast
    Closings: 61
    Month of Inventory: 5.0
    Median Price of SOLD: $215,000
    Northwest
    Closings: 297
    Month of Inventory: 4.9
    Median Price of SOLD: $197,500
    Tucson Luxury Homes 2013Luxury
    Closings: 7
    Month of Inventory: 38.3
    Median Price of SOLD: $1,162,500
    The Tucson Luxury real estate market is starting to gain some traction, but slowly!
    Long Realty sold the highest price home in Tucson this year.
    The sale of “Canyon Ranch” in Tucson’s most desired communities Canyon Ranch Estates
     8375 E. Canyon Side Road, Tucson, AZ 85750 sold for $3,411,450, the largest sale for 2013.
    Cannyon Ranch Estates

    For an analysis of a specific neighborhood, please call Don Vallee or Kathy Vallee at 520-544-5555.

    Tucson Home Owners/Sellers

    The average home prices have started to stabilize but they hit their highest levels sine the downturn in 2006/2007. Many of our clients are taking advantage of making a lifestyle change by upgrading their current home. buying a second home, buying an investment property, or scaling back.  Now– is the time to take advantage of both the high value of your current home and the low interest rates for your purchase.

    Tucson was recently listed as one of the Top 10 Markets to watch in 2014 by National Association economist Lawrence Yung who attended the conference in San Francisco this year.

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