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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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