NW Tucson Homeowners - It's a Seller's Market! Time to List Now!
The market indicators are out there. Even nationally, Keeping Current Matters paints a bold graph with the current market conditions: Inventory is Low - Buyers are Out there - List NOW.
For more local information, I've studied the reports for NW Tucson, and Extended NW and W Tucson areas.
Here's some direct quotes:
"In the Tucson Northwest area, November 2015 active inventory was 1,392, a 16% decrease from November 2014. Months of Inventory was 5.7, down from 7.1 in November 2014. Median price of sold homes was $222,200 for the month of November 2015, up 6% from November 2014.
In the Tucson Extended Northwest and Extended West area, November 2015 active inventory was 108, a 26% decrease from November 2014. There were 21 closings in November 2015, a 50% increase from November 2014. Year-to-date 2015 there were 301 closings, a 10% increase from year-to-date 2014. Months of Inventory was 5.1, down from 10.4 in November 2014. Median price of sold homes was $122,500 for the month of November 2015, up 7% from November 2014."
What's that mean in a nutshell? If you are contemplating selling your NW Tucson home, inventory is down, prices are up, actual sales are down (because we need listings) homes are selling more quickly, and a higher percentage of homes are selling now than just a month before.
To be even more specific, if your home value is apx. $225000 or less, NW Tucson Homes for Sale inventory levels are at 3.5 months. Six months is a balanced market. This gives the seller much more negotiating room in an actual sale! Contact me for more information on homes in price bands exceeding $300,000 for a detailed analysis.
I'm happy to stop by and help you determine your current property values. Also, visit my web page for a boilerplate approximate value of your home based on three different estimating services.