Tucson is a Buyer's Market
We have just recently started a blog as a part of our Tucson Real Estate Tucson Homes web site. The purpose of the blog is to provide you with up to date information on the Tucson Real Estate Market and Tucson Real Estate in the News.
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Tucson Real Estate in the News blog.
Update: November 6, 2006 Approx. 9200+ active Residential Listings
August 16, 2006
Have you been wondering what is happening in Tucson Residential Real Estate, wonder no more. Let me bring you up to date. Last year, especially last summer we had what was called around here "A Frantic Market" the inventory of available properties in Tucson was at record lows and bidding wars and prices as much as $10,000 or more over list price were not unusual. It seemed at times if you didn't get an offer submitted in the first hour it was on the market you would loose out. Some buyers lost out on as many as 5 homes and ended up just leaving Tucson without purchasing their dream home. There were many investors in the marketplace which seemed to fuel the frantic market.
The fall brought a slower market as many investors moved on to other metropolitan areas in country. However, many home owners seeing what was happening last summer decided to put their homes on the market, expecting the same thing to happen, it didn't and it hasn't. The result, we now have more than double the normal inventory. Homes are on the market for 90 days or more and too many sellers still think it is last summer, and it isn't.
Listing are changing hands from one agent or brokerage to another with sellers thinking it is the agent not marketing their home, only to find that even with a new agent or brokerage their home still isn't selling.
Right now Tucson is "A BUYER'S MARKET", there are a lot of Tucson Homes to choose from. Prices have come back to more realistic levels while remaining strong.
Barbara Lasky
Long Realty Company
12080 N Dove Mountain Rd
Marana, AZ 85653
Office: (520) 918-7494
Toll-Free: (888) 825-8251 x7494
Fax: (520) 572-6714
Cell: (520) 240-3560
Copyright ©2006
Information Deemed Reliable But Not Guaranteed
