Tucson real estate : 2011 housing review (Catalina Foothills & Oro Valley)

Tucson real estate :  Below find the 2011 results for all single family home sales in the Foothills and Oro Valley. I have compared the 2011 housing results to 2010, to show changes in the housing market on a yearly basis.
 
Foothills
 
                        2010            2011
Avg. Price         $501k            $477k
# Sales             586               627
Days on Mkt.     130               97
 
Compared to 2010, in 2011 the average purchase price of single family homes in the Foothills declined 5% while the amount of sales rose 6%. Additionally, in 2011 homes sold 25% faster.  While the purchase price of homes in the Foothills declined in 2011, more home sold and at a faster rate.
 
Oro Valley
  
                       2010            2011
Avg. Price         $330              $287
# Sales             528               533
Days on Mkt.     137               98
 
Compared to 2010, in 2011 the average purchase price of single family homes in Oro Valley declined 13% while the amount of sales rose 1%. Additionally, in 2011 homes sold 28% faster. While the purchase price of homes in Oro Valley declined in 2011, more home sold and at a faster rate.
 
Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley & Marana home sales. Contact Lisa for all your Tucson real estate needs
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Tucson real estate : Mortgage rates (Jan 6-8th, 2012)

Tucson real estate:  Below find mortgage reates for Jan 6-8th, 2012. Realtor Lisa Bayless specializes in Tucson real estate.  Call Lisa for all your Tucson real estate needs.

Conventional/Conforming:

To $417,000

30 Year Fixed

4.0% w/0 Points or
3.75%w/1 Point

15 Year Fixed

3.25% w/0 Points or
3.0% w/1 Point

Conventional/Jumbo:

$417,000 and Up

30 Year Fixed

4.0% w/1 Point

 
Niche Products: Interest Only 30 Year Fixed

N/A

Investor Up to $417,000
30 Year Fixed

4.5% w/1 Points

FHA to $271,050:    
VA to   $417,000:
30 Year Fixed

3.75% w/0 Points

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01/06/12 Tucson Real Estate: New home sales, price reductions & closed sales (Catalina Foothills, Oro Valley & Marana)

01/06/12 Tucson real estate: Below find links to all new home sales, price reductions and closed sales in the Catalina Foothills, Oro Valley  & Marana. For those who follow the local realestate market, watching closed sales is important since it gives you an idea what is selling and for how much!

New listings

Price reductions

Closed sales

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all you Tucson real estate needs.

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Tucson real estate : Pinnacle Ridge (gated Catalina Foothills subdivision) update

Tucson real estate :  6376 N Pinnacle Ridge  just sold for $572,500 ($161/sqft). Pinnacle Ridge is a gated Catalina Foothills subdivision located near Skyline & Potantoc.

Here is a comparable market analysis of home sales in Pinnacle Ridge going back six months. You will see the are currently 3 homes for sale in Pinnacle Ridge with an average price of $723,000 ($196/sqft). Over the past 6 months 3 homes have sold in Pinnacle Ridge with an average selling price of $625,000 ($151/sqft). Currently, buyers and seller appear to have different expectations in Pinnacle Ridge.

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro valley and Marana real estate.  Contact Lisa for all your Tucson real estate needs.

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01/05/12 Tucson Real Estate: New home sales, price reductions & closed sales (Catalina Foothills, Oro Valley & Marana)

01/05/12 Tucson real estate: Below find links to all new home sales, price reductions and closed sales in the Catalina Foothills, Oro Valley  & Marana. For those who follow the local realestate market, watching closed sales is important since it gives you an idea what is selling and for how much!

New listings

Price reductions

Closed sales

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all you Tucson real estate needs.

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Tucson real estate : 2011 foreclosure notices fell 19% in Pima County

Tucson real estate : Foreclosure notices fell 19% in Pima County compared to 2010. In 2011, 9,433 foreclosure notices were filed, down from 11,663 in 2010. Additionally, in December 2011 636 foreclosure notices were filed, down 27% from December 2010.

While the decline of foreclosures will benifit the housing market, other factors will continue to keep housing prices low in Pima County over the next few years.  This includes a projected increase in homes for sale by property owners who have been waiting for a recovery in the housing market. Additionally, lenders have a large inventory of foreclosure properties they have yet to place on the market for sale.

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all your Tucson real estate needs.

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01/03/12 Tucson Real Estate: New home sales, price reductions & closed sales (Catalina Foothills, Oro Valley & Marana)

01/03/12 Tucson real estate: Below find links to all new home sales, price reductions and closed sales in the Catalina Foothills, Oro Valley  & Marana. For those who follow the local realestate market, watching closed sales is important since it gives you an idea what is selling and for how much!

New listings

Price reductions

Closed sales

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all you Tucson real estate needs.

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Tucson real estate : Months of inventory by price range (Catalina Foothills)

Tucson real estate : Both buyers & sellers often enquire about the amount of supply/demand in a particular price range and area. Months of inventory provides good insight into this question. Months of Inventory (MOI), is the amount of current inventory (homes currently for sale) divided by average monthly sales. This is a good indicator of market health since it measures the amount of time it will take to eliminate existing inventory at the current rate of sales. In general, a market is considered “balanced” when MOI is around 6 months.

 
Below find a chart listing the MOI for various price ranges in both the Foothills.
 
Foothills
Price                     MOI
$300-$349k       5.0
$350-$499k       8.4
$500-$749k     11.2
$750=999k       7.3
$750-999k         49.0
$1million & up   38.5
Source: Long Realty Housing Report (December 2011)
Realtor Lisa Bayless  specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all your Tucson real estate needs.
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01/02/12 Tucson Real Estate: New home sales, price reductions & closed sales (Catalina Foothills, Oro Valley & Marana)

01/02/12 Tucson real estate: Below find links to all new home sales, price reductions and closed sales in the Catalina Foothills, Oro Valley  & Marana. For those who follow the local realestate market, watching closed sales is important since it gives you an idea what is selling and for how much!

New listings

Price reductions

Closed sales

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all you Tucson real estate needs.

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12/27/11 Tucson Real Estate: New home sales, price reductions & closed sales (Catalina Foothills, Oro Valley & Marana)

12/27/11 Tucson real estate: Below find links to all new home sales, price reductions and closed sales in the Catalina Foothills, Oro Valley  & Marana. For those who follow the local realestate market, watching closed sales is important since it gives you an idea what is selling and for how much!

New listings

Price reductions

Closed sales

Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.  Contact Lisa for all you Tucson real estate needs.

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