Relocation is main reason for buying or selling a home!

The primary reason for buying or selling in the Oro Valley is relocation.  During the summer of 2007, the greatest activity was in the single family market and those homes sold garnered approximately 90% - 95% of the listed price even though some were on the market for 120 days.

There seems to be a good supply of homes in all price ranges with the average price being $275,000 for a single family home.  Compared to last year, this represents a decrease of only about 5%.  Most sellers receive more than one offer from buyers since there are more buyers than sellers this summer.

According to Don and Kathy Vallee of Re/Max All Executives, "Houses are selling, but not with the mania we saw a year ago. Inflated prices and high inventory will restrict the housing market a while longer."

Don and Kathy believe it will take a while for the market to rebuild, but it will ultimately have a strong rebound. If you have any questions regarding the housing market in the Oro Valley area, please call Don or Kathy Vallee at 520-219-1024.  They will be happy to discuss your concerns or questions.

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