Record Number of Homes For Sale in Tucson, Arizona

Listings Continue To Soar As Market Slows

In Tucson, Arizona the first quarter of 2007 we had 9,925 homes in the market. What do we mean by "in" the market? Well, only 10 percent of the homes are priced to sell, so we considered the homes that are priced right to be "On" the market.

(All Residential types)

Home sales decreased 20 percent from 1,524 units sold in June 2006 to 1,226 units sold in June 2007.

Median Sales Prices increased 1.8% from $225,000 in June 2006 to $229,000 in June 2007.

The Average Days On Market increased 39% from 46 days in June 2006 to 64 days in June 2007.

The Sales fro the quarter were down about 18% from the same three months on 2005.

It is apparent that a number of sellers continue to push the price on their homes. Sellers believe their homes are worth more than what the competitors have sold for

What has contributed to the Tucson market glut? In 2005, we saw an explosion of new home building, condo conversions, and investors coming in like locusts!

What we say to our sellers:

1.  Be objective about pricing your home.

2.  Prepare your home to be "In" the market by fixing problems, updating, and repainting.

3.  Declutter

4.  Make sure the written marketing plan features your home online; 80% percent of the home buyers start online.

5.  Price below your competition.

6.  Ask to see your realtors sales stats.

Looking to Buy or Sell a home? We sell a home every 5.7 days…we know the market, we know where to find the deals, & we work hard for you!

Don & Kathy Vallee, CRS

RE/MAX ALL Executives

Tucson, Arizona 85718

888-219-1024

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