Tag Archives: housing market decline

Tucson real estate : Oro Valley August 2011 housing report

Tucson Real Estate : As of August 2011 active inventory was 334, a 16% decrease from August 2010. There were 52 closings in August 2011, 2% above August 2010. Months of Inventory was 6.4, down from 7.8 in August 2010. Median price of sold homes was $215,500 for the month of August 2011, down 21% from August 2010. Oro Valley had 50 new properties under contract in August 2011, up 14% from August 2010.

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Foothills luxury home originally listed for $3.9mm, sold for $1.8mm

6959 N Javelina Tucson, in Skyline CC, was originally listed for $3.9mm in 2007. Since then the home has been on and off the market and has had numerous price reductions.

Today the home closed for $1.8mm.

This is just one more example of the luxury market’s adjustment to current market conditions. Continue reading

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate news | Tagged , , , , , , | 2 Comments

The Beginning of the End?

Will it be a silver lined or storm cloud at the end of the real-estate horizon? Currently, there are dueling economic indicators suggesting the future of the real-estate market remains undetermined. Below find a summary of various economic conditions that will put both upward and downward pressure on the housing market.

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Posted in Tucson Real Estate news | Tagged , , | 7 Comments