Tucson Sales and Home Prices by Area

Looking at August sales statistics for the various areas in Tucson, the numbers show that people are still buying homes, but some areas in Tucson are selling better then others. Home sales increased at a steady rate and sales prices increased slightly during the month of August. All areas of Tucson saw an increase of listings sold compared to July's numbers. Once again Northwest Tucson saw the largest number of listings sold in August with 2,367, a 13.7% increase over July's number of 2,081. Central Tucson came in second with 1,581 listings sold, about a 15% increase over July's number of 1,377. In my experience I've found these two areas to be very popular so sales tend to remain consistent. Central Tucson is close to the University of Arizona, so student housing is always in need there. Northwest Tucson has had an incredible amount of growth and development in the past several years, and it beautiful mountain scenery attracts at lot of home buyers.

Home sales prices increased in most areas of Tucson, with Northeast and Extended SW Tucson seeing the biggest gains. The Extended SW area of Tucson includes Green Valley, a destination retirement community about 20 minutes south of Tucson off I-19, and Sahuarita , a master planned family community about 15 minutes South of Tucson, which I've found to be a popular choice for my home buyers working at Raytheon. The Extended NW area of Tucson saw a significant decrease in the average sales price, about 16% less then July's sales prices of $177,433. This area of Tucson includes a master planned community with a lot of new home construction taking place in Gladden Farms . The community exploded when it first began development several years ago, but due to lack of services and amenities in close proximity, I've found few home buyers are currently choosing to live in this area when there are so many options closer to town.

Average Sales Price by Area August 2007

The Average days a home was on the market increased again to 69 days for August, a 6% increase over July's DOM number of 65. The NW, SW Tucson and the Extended SW Tucson areas saw the biggest increases of DOM, while the Extended South, West and Extended West areas saw fewer days on market. I always take these numbers with a grain of salt. The DOM numbers that are reported can't always be counted on to accurate as the number of days a home shows it's been on the market can be manipulated.

Tucson Average Days on Market

Overall the Tucson real estate market remains good. Sales prices are beginning to increase, but not drastically, so sellers are feeling more comfortable with the sales prices their homes get and buyers still feel like the market is in their favor. As we make our way into the Tucson "busy season" prices will most likely continue to rise steadily as days on market goes down.