In total, there were 10,578 residential closings valued at $2.56 billion in 2008 in Tucson. As of January 2009 active inventory was 7,707, a 20% decrease from January 2008. There were 573 closings in January 2009, a 6% decrease from January 2008. Months of Inventory decreased to 13.5, down from 15.7 in January 2008. Median price of sold homes was $162,500 for the month of January 2009, down 19% from January 2008. New under contract properties in January 2009 increased 29% from January 2008, helped by lower residential prices and historically low mortgage rates.

Contact me for market conditions in your specific neighborhood.

Richard Lecinski

Long Realty Company

Tucson - Oro Valley - Marana - Vail

520-834-4663

http://rlecinski.longrealty.com

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