Tucson, Arizona Real Estate Market Report for November 2008 

As we near the end of 2008 we can see that November has followed seasonal trends and expect that December will do the same. The latest and greatest news comes from the mortgage markets where FHA loan rates dropped to 4.75% for a 30 year fixed mortgage and conventional loans are 5.0%. Another sign that owning a home is not only a smart move but an affordable one at that. In addition, with rates this low refinancing your existing home could be an option as well. 

Here's a few important numbers to check out that show how the past month compared to the same month last year.

Home sales volume for November 2008 was $137,104,343 compared to $216,102,902 a year ago.

Average Sales price for November 2008 was $215,913 compared to $266,794 for 2007.

Pending contracts for November 2008 are 677 compared to 910 for 2007.

Active Listings for November 2008 are 7,996 compared to 9,234 for 2007.

Home Sales Units for November 2008 were 635 compared to 810 for 2007.

Median Home sales price for November 2008 $178,000 compared to $212,000 for 2007. 

The information provided below are the statistics for all residential types, in and around Tucson which include Single family homes, manufactured single family home, townhome, condominium, and new construction sales for all types.  Find your zip code to learn how much sales activity happened right near you.  

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The Tucson Arizona Market Report above was provided by Kevin Wood of Realty Executives. Kevin can be reached via email at Kwood@gotucson.com, HomesInfoTucson.com, or 520.260.3123. Kevin has helped people move in and out of Tucson for nearly 4 years. Kevin's office is conveniently located on Kolb Road just south of Tanque Verde.