Tips On The Real Estate Market In The Tucson Realty Review January 2014 Issue
The Tucson Realty Review January 2014 And A Look Back At 2013
Welcome to the Tucson Realty Review January 2014. This issue will take a look back at the 2013 Tucson Real Estate Market. As Top Tucson Realtors we are involved in the day to day events of the Real Estate market in Tucson AZ.
There was good news for Tucson home sellers as price gains continued through out the year. Buyers were also in a good mood. Although prices were up from 2012, interest rates remained at historic lows.
Comparing December 2013 to 2012 there were gains in most key statistics. A few of the numbers were higher that the Tucson Real Estate market peaks of 2007, 2008 and 2009.
The average selling price of a Tucson home increased by 10.6%. Coming in at $202,342. This is just under the highest level in 2009 when the average selling price stood at $202,376.
Another key statistic for Tucson Realty Review January 2014 is the median selling price. This is the selling price of a Tucson home where half the selling prices are below and half are above the amount.
For the 2013 Tucson housing market the median price was S157,900. That was up 7% from 2012.
Active listings in the Tucson MLS stood at 5,150 in December 2013. This is over 15% more homes on the market. Many being Tucson luxury properties.
Solid year over year gains. Things are better, perhaps much better.
However, there are still a large number of home owners that are underwater. Some estimates are over 20%! The market needs more improvement.
As mentioned in the December 2013 Tucson Realty review, lender are a big question mark for 2014. New laws have tightened lending standards. The effect of this is yet to be determined.
The core fundamentals are in place for the housing market to continue to stabilize and strengthen in 2014. However, as the financial analysts state, “past performance is not an indicator of future results.”
For more on the Tucson Realty Review you can check out the Tucson MLS Statistics for January 2014. Our Tucson Real Estate statistic archive provides lots of data on past months Tucson Housing markets.
Questions about the Tucson Real Estate Market or Tucson Homes for Sale?
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