Market Conditions for Tucson Active Adult Communities
From "Realty Times .com" July 18, 2008
Tucson's Active Adult Communities are weathering this volatile market fairly well. Prices have stabilized at pre-boom levels. Homes are selling but with longer market time. Short Sales and Foreclosures are rare in these communities so there is no downward spiral in values based on distressed properties. Buyer's visiting open houses in these communities are ready to buy as soon as their homes in our feeder markets of California, the Northwest, the Midwest, East Coast and Colorado sell. After the long, hard winter sellers in these areas are starting to see their traditional spring market start now. Lower prices and pent up demand is expected to attract buyers this summer which in turn will bring buyers to Tucson.
SaddleBrooke is on track for close to 200 homes sales this year with an average sale price of $409,000. With just 135 homes for sale it's still a Buyer's Market with a lot of great deals to be had.
Sun City Vistoso has seen a significant drop in average sale price from $318,000 in 2006 to $283,000 in 2007 to $274,000 for the first half of 2008. This has resulted in a lot of homes sold this year. With only around 50 homes for sale, Sun City is no longer a Buyer's Market, however, there is still a good selection of homes.
Heritage Highlands has 16 months of inventory and is a Buyer's Market and an average sale price is $310,000.
Vistoso Village is a stable market with only 6 months of inventory and an average sale price of $250,000.
Sunflower is also stable with 7-1/2 months of inventory and an average sale price of $213,000.
This is a wonderful opportunity to make a smart buy in Tucson. Inventory is still high, price reductions have been taken and motivated sellers are ready to negotiate.For seller's aggressive pricing and top notch marketing is the key to successful selling in Tucson. With market stabilization, sellers continue to see a good return on their real estate investment in Tucson.
If you want to know more about Tucson's Active Adult Communities or the Tucson area Real Estate Market, call Julie Nellis, Long Realty, 520-918-3843 or visit www.tucsonhouses4you.com
Julie can help you buy the home of your dreams or help you sell your current home so you can follow your dreams.
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