In the last two weeks;
105 homes have been listed for sale
90 homes have had price reductions
45 homes have gone under contract
31 homes have sold
588 homes are listed for sale in the Tucson Foothills today
I'm going to get off track here from the pulse of the market thing, because I think it's worth looking at a few simple longer-term numbers to get a handle on where we stand today with home sales in the Tucson Foothills.
A year ago, in April 2007, there were about 460 homes for sale.
In July of 2006 (the earliest records I have) there were about 377 homes for sale. Today there are 588 homes for sale.
And during that almost 2 year period, sales have slowed by about 26% in the Tucson Foothills.
So here we are with about 55% more homes for sale, combined with about 26% fewer sales. And all of it in a nationwide economic climate that is wobbly and uncertain.
I'm not a gloom and doomer, if anything, I'm a cheerleader for the Foothills, but I'm also a realist. The bottom line is that there's a growing and very basic imbalance here that cannot be ignored.
If you're trying to sell your home, and you haven't done so already, it's really time to cut to your bottom line.
Soon, the busy season for home sales in the Tucson Foothills (January - May) will come to a close and we will experience a seasonal slowdown in sales. It happens every year, there's no avoiding it.
If you're a buyer, you're in an enviable position.
The inventory is higher than I've seen it, prices are down, the % of sale price/list price indicates that sellers are very flexible, and interest rates are still very low.
see thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
**This data is for single family homes - no town homes, no condos - listed through the Tucson Association of Realtors® Multiple Listing Service.
