Why the Tucson Market Is Changing

Inventory is extremely low in the Tucson metro area and we're seeing the market turn into a seller's market. We're even seeing sellers receive multiple offers on their homes.

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Tucson is really turning into a seller's market, so I wanted to stop by with a quick market update.

There is extremely low inventory all over the Tucson metro area. I've talked about this before, but I can't stress it enough: if you're thinking about selling at all, inventory is very low right now, so you have a very good chance of getting full price for your home. We're even having a lot of sellers getting multiple offers on their house and getting to choose one that's above asking price in some situations.

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You have a good chance at selling at or above asking price.

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Low inventory puts you in a great negotiating position because buyers have fewer options to choose from, which means that you won't have to do many repairs after an offer comes in. These are the kinds of things that will save you money.

If you've thought at all about selling your home, give me a call or send me an email today because you don't want to wait any longer to take advantage of this market. I hope to hear from you soon!

Buying and Selling Trends in Tucson this Summer

We’ve got a second quarter update for the Tucson market for you. Today’s market is a double-edged sword for both buyers and sellers. It’s great for sellers because of low inventory, and it’s great for buyers because interest rates are still low and there are a lot of down payment assistance options out there. At the same time, we are still seeing issues.

For buyers, low inventory means you’ll likely be competing against multiple offers on anything priced right in the $250,000 or below price range. For sellers, prices are going up due to low inventory, especially in the last few months.

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Buyers must be prepared to make a quick offer.

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If you’re selling in this market, all you’ve got to do is price properly and you have a good chance at receiving multiple offers. If you plan on buying, it’s absolutely possible to get a good home. You’ve just got to be prepared to write an offer quickly. Homes are sometimes getting multiple offers within the first 24 hours that they are listed.

The weather isn’t the only thing heating up in Tucson; the market is as well. If you have any questions for us, give us a call or send us an email. We would be glad to help you out.

How the Brexit Has Impacted the Tucson Market

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For those of who you follow the news, I’m sure you’ve heard by now about the U.K. deciding to leave the European Union, or the “Brexit.” This event has actually benefited us in the real estate market as it has lowered interest rates a considerable amount. Whether you’re buying a house or selling a house, the impact has been positive.

If you’re selling, there will be more potential buyers out there looking to lock in a great rate. If you’re a buyer, you’ll be able to get a great rate on virtually any type of loan program. If you’re looking to wait and see what will happen, now is a great time to act due to the increased amount of buyer activity.

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Whether you’re buying or selling a house, the impact has been positive.

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This is especially true here in Tucson, where we’re seeing low inventory. Low inventory, of course, drives prices up because there are more buyers than there are properties listed. It’s a win-win situation for all parties.

If you have any real estate needs regarding buying or selling a house here in Tucson, please feel free to give me a call or shoot me an email. Have a great day!

Tucson Market Update

Want to sell your home? Get a FREE home value report.  

Want to buy a home? Search all homes for sale.

Any property under $275,000 currently sits in a seller’s market. More buyers are looking for homes within this particular price range. If you’re selling within this price range, sell today!

However, beware that there are sellers still paying closing costs at the end of a transaction.

 

 
The market above the $275,000 price range remains a little slower. Nonetheless, it’s still considered a balanced market. The luxury market, including homes priced over $500,000, is experiencing a much slower market.

It’s time to act now. Interest rates will increase in December! Take advantage of low rates today. Waiting could cost you your dream home.

If you have any questions about the market today, give us a call or email today!