Archives

April 2007

1st Quarter 2007 summary of activity

Posted at 9:00 AM, Apr. 10, 2007

I think I would have to begin by saying that the market is more or less "normal". There seems to be more activity in the housing sector than in land, but the activity shifts back and forth during the year. And, even though the total sales were down versus the previous year, it is down less than the greater Tucson market. People are still looking for that idyllic community to raise their children or to retire. Here are the numbers: Total sales - $6,224,000 down 20% from $7,768,000 in 2006; Homes (6) valued at $2,969,000 versus (7) valued at $2,504,000 in 2006; The median home sale increased to $352,000 from $310,000 and days on market decreased to 87 from 102. --- Land sales (24) were just one less (25) than in 2006, but the total value was down to $3,255,000 from $5,264,000; The average price per acre is now up to $18,850 from $15,500 and the median lot price is $156,750 up from $125,000 the previous year. Finally, time on market remained virtually unchanged at 89 days versus 83 days in 2006. So, what does all this mean: People still want to live here, but not in great numbers and those that do are paying a bit more. If you are a REALTOR(R), life is good. You are selling property and meeting lots of nice new neighbors. If you are a potential buyer, please use a REALTOR(R) to represent you in your purchase. All of us with that designation, subscribe to the National Association of Realtors(R) code of ethics and many of us have one or more continuing eduction designations. That makes us professionals in our field. That should be important to you.