Sales up 44% in the Mountain Empire real estate market

No matter how you look at the two main indicators of our market, unit sales or dollar volume, this is a better year than last for sure. During the first quarter of 2009, 4 homes changed hands with a dollar value of $1,008,900. This year 10 homes changed hands at a combined value of $2,412,400. (All statistics from the Tucson Multiple Listing Service.) Land transactions, however, were a different story: In 2009 there were 6 sales with a total value of $920,726 versus 3 sales with a value of $370,000 this year.

When you consider the total dollar value of transactions in 2010 against 2009 being up 44% ($2,782,400 and $1,929,627), it seems a bit more impressive than it is. Yes, we are happy with the trend, but this time of the year we should see something in the neighborhood of $10MM or so in total sales. Thus, we have a ways to go to get back to a healthy market in the mountain Empire.

Looking ahead, and considering both the national news and the Tucson market, we believe we are now poised to begin to see more buyers. I think it may be the third quarter by the time that happens, but I think us real estate sales people and our seller clients should be smiling more at that time. Stay tuned. I hope to bring even more optimistic news after the end of this quarter!