Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Here we are into the Summer and we are now looking at three months of good news. Everything went to the better from last month. The only small negative is the Listings under contract fell by approximately 80 units which will affect the solds next month.
| Dec 2014 | Jan 2015 | Feb 2015 | Mar 2015 | Apr 2015 | May 2015 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $205,015 | $194,878 | $209,403 | $208,673 | $210,749 | $216,517 |
Median Sales Price | $165,000 | $160,250 | $167,000 | $172,000 | $167,500 | $171,250 |
Total Units Sold* | 1076 | 805 | 935 | 1275 | 1383 | 1388 |
Active Listings | 5577 | 5803 | 5857 | 5721 | 5487 | 5250 |
Days On Market | 61 | 70 | 69 | 68 | 67 | 62 |
Listings Under Contract** | 1304 | 1764 | 1993 | 2294 | 2336 | 2252 |
Sales Over $500,000 | 49 | 30 | 51 | 47 | 66 | 71 |
| The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables. * Closed during the month. ** For the current month (not the total listing under contract) |
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On the 1st of August we enter a new era of Closing Statements that will lengthen the time to close a property with a loan. No more quick closing once we get approval for the Loan. I will go into this more in my next Blog as I am just now digesting what I am getting from the Lenders. No more HUD-1.
I have noticed more activity on my listings, but not many good contracts, as buyers seem to be short on funds to close and are asking for Seller assistance. That is fine but make sure you offer market value and not $10,000 below. You are buying that house in the condition that it was 20 years ago. No, it does not have a modern up to today’s date kitchen, but it does have a fair market value much higher than your offer. Be fair to the Seller, if you want 3% of the Sales price to pay for YOUR closing costs.
Any good agent can get the fair market value on most homes in Tucson, and this is a good starting point. I remember when buyers actually paid their closing costs and negotiated a price that the Seller felt was fair to them. But then I have only been doing this for 36 years.
Be kind to your fellow person and life would be better for all of us.
Call me if you need help buying or selling and don’t forget we also do property management.
Jun 12, 2015 No comments yet Share