Tucson Real Estate Market July Update

Tucson Real Estate Market continued to improve

Recent data that has been released by Tucson Association of Realtors this month that suggest that Tucson might be improving.

More homes are selling, and there has been a drop in Active listings coming on the Market.

The July Listing inventory dipped below 8,000 units for the first time since March of 2006.

Interestingly enough the Northwest has picked up with around 241 units sold. There has been excessive inventory there, and this is a good sign for the area.

The Central area of town had 157 Units sold, and has remained strong due to multiple factors including the University of Arizona and Davis Monthan Airforce base.

The average sales price fro Single Family Homes is hovering around $210,000, with Condos at $137,00 and Townhomes at $169,000.

We are still however in a Buyers Market eventhough Active Listings are shrinking. The recent introduction of the Buyer $7,500 tax credit under the recetly passed Federal Housing Stimulus Bill should benefit those that can qualitfy as first ime home buyers.

Just as a FYi as first time home Buyer is catagorized as someone who has not owned a home for the last three years.