Tucson Housing Report February 2009

In total, there were 10,578 residential closings in 2008 valued at $2.56 billion in 2008 in Tucson.

As of January 2009 active inventory was 7,707, a 20% decrease from January 2008.

There were 573 closings in January 2009, a 6% decrease from January 2008.

Months of Inventory decreased to 13.5, down from 15.7 in January 2008.

Median price of sold homes was $162,500 for the month of January 2009, down 19% from January 2008.

New under contract properties in January 2009 increased 29% from January 2008,
helped by lower residential prices and historically low mortgage rates.

You can also get more details on my website http://www.silviacoggin.com/ under Market Reports, or contact me for market conditions in your specific neighborhood.

Sold Listing

Really exciting. One of my listings sold today, after only 2 1/2 weeks on the market. Of course, still some contingencies to be met, but the contracts are signed! Everyone is happy and that's what makes real estate so exciting! I feel so much gratitude and appreciation seeing sellers and buyers happy and ready to continue with their lives!

www.silviacoggin.com

We are all wondering what is going on in the housing market. So, if you want to know more about our local market, not the Arizona general market of which we hear so much in the news, please go to my website: www.silviacoggin.com and click on "market report". Of course, if you have any questions, please give me a call.

Introduction

I will use this blog to publish and share real estate news and publications. We are living in a difficult housing market and economy and we are all looking for information.