Here's a look at the sales activity for single family homes in the Tucson Foothills during the past two weeks - that's 5/5 - 5/19/07. This activity took place against an average of 495 homes listed for sale during this period -priced from $235,000 to $22,000,000.
New Listings = 75 (priced from $269,900 - $3,200,000)
Homes gone under contract = 38 (priced from $214,900 - $2,500,000)
Homes Sold = 26 (priced $260,000 - $1,400,000)
Price Reductions = 58
Price Increases = 4
Expired Listings = 16
Withdrawn Listings = 26
Balancing an increase in the number of homes that have gone under contract (8 more) with a decrease in the number of homes that have sold (11 less) -since the last two week period- I interpret the sales activity as holding fairly steady, and doing so across a broad price range. We've also seen just a slight decrease in inventory, from about 500 to the current 486 homes for sale.
Very soon however, we'll begin to see the effects of a seasonality factor coming into play. As we drift toward summer, sales activity in the Tucson Foothills will begin to wind down, as seasonal visitors
(aka, snow birds) head back to their primary roost.
In the past, the summer sales slowdown has been accompanied by a reduction in inventory, as some sellers decide to pull their homes off the market, or hold off on listing their home for sale, until things pick up again in the fall. The net effect has been that while there are fewer buyers in the market during the summer, there are also fewer homes to choose from. It will be interesting to see if that holds true in this year of slower sales where some sellers have not been able to sell their homes despite being on the market for a long time.
To see all the homes that have SOLD in the Tucson Foothills during the past 30 days- including the pictures and listing information from the Tucson MLS, the List Price, the Sale Price, $/sq. ft and more, click JUST SOLD
For sales numbers during previous two week periods, please see:
The Latest - Tucson Foothills Home Sales, 5/4
The Latest - Tucson Foothills Home Sales, 4/18
The Latest - Tucson Foothills Home Sales, 3/28
The Latest - Tucson Foothills Home Sales, 3/14
As always, the source for this data is the Tucson Association of Realtors Multiple Listing Service.