Tucson Real Estate January 2008 Preliminary Home Sales Report

By
Real Estate Agent with Tierra Antigua Realty

On January 18th I predicted that residential home sales for January should fall between 546 and 610. As of February 1, that number is 568. Mid point within the range. Not bad for predicting. Reporting will continue for the next couple of weeks. The official numbers will be collected on or around the 4th of the month. As of now the highest being $3,100,000, lowest $35,000 and median of $199,695.

Thirteen Golf Properties were recorded as sold for the month, for an average price of $462,110. The highest being $1,939,000, lowest $114,000 and median of $332,500.

Considering today is Superbowl Sunday, the deadline for reporting could be extended. The TAR/MLS official report won’t be out until some time between the 14th and 19th. So, watch for all the blogs from Dave (Tucson AZ Real Estate), Kelly (House Chick) and me around that time. Each giving a slightly different spin on the market. Between the three of us, you will get a good picture of the market.

Since last month interest rates have dropped in an attempt to stimulate the market. How long interest rates will remain this low depends on a lot of things. Lets all hope it stays low.

Watch for:

  • What do dams and the current market have in common?
  • Tucson and the current recession.

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