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	May 09	May 10	% change
Home Sales Volume	$210,471,608	$236,593,126	17.43%
Home Sales Units	987	1270	28.67%
Average Sales Price	$204,125	$194,838	4.55%
Median Sales Price	$170,000	$151,000	11.18%
Average List Price	$214,527	$194,826	9.18%
Pending Contracts*	1302	963	%26.04
Active Listings	6506	6742	3.63%
New Listings	1704	1463	14.14%
*Has not yet closed escrow.
Information provided by Tucson Association of Realtors Multiple Listing Service
Additional information and a complete run down of the Tucson real estate market is available HERE. This MLS report is sent to all Realtors in Tucson, and is complete with color graphs and charts to help potential clients get a better understanding of the underlying real estate market conditions. Michael assists potential clients in this manner with NO COST to them!
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Market Recap: By Michael Oliver

The Tucson housing market continues to do better, although it is in a lull period right now on the lower end as the tax credit pulled demand forward. The very low end is still selling, but it is slower from about $200k-$300k right now. The higher end is doing much better as those buyers feel more confident about making a purchase and sellers have gotten very realistic in most situations about asking price. Active listings are staying about the same -- only up 3.63% over the past year -- and new listings are down. This is a good stat for sellers to see, as the competition from other sellers is holding steady.

By next year, I would hope to see this active listings number in the low 6,000 range or high 5,000 range. I believe mid-2011 through 2014 will be a solid sellers market with small price increases in yearly Tucson home prices. Stats on foreclosures are showing declines across the country as well as here in Tucson. Foreclosures are going to be a part of the Tucson real estate market for the next 5 years, no doubt. However, I think the days of really good foreclosure inventory at rock bottom prices are slowly starting to slip away. Banks are already less willing to drop a price by much to make a sale; many banks are staying very close to their listed price during negotiations. This factor, to my mind, shows the banks are getting the situation much more under control than in years previously.

If you are a buyer, the market is still good overall. I would look at foreclosure and new home builders. The new home builders in Tucson are still struggling as buyers are running to foreclosures for the best deals. During the tax credit rush of the last month (April), almost all the builders built up a bunch of spec homes because they expected demand to be high for homes that would fit in the tax credit window. Well, from my sources, most of the demand expected didn't come to the new home builders and instead went to the foreclosures. Now, fast forward to today, and there are a couple hundred new homes in the under $250k price range almost finished or finished to make the June 30th tax credit deadline with no buyer. A buyer can purchase these homes very cheaply, and I would suggest they look into it. Almost every segment of the Tucson market has them sitting around looking for a buyer.

For those looking to sell, the market really isn't that bad. Yes, you will have to compete with some foreclosures, and yes, you will need a good price and a good to great listing agent (Realtor) to market your home correctly, but the selling market is much, much better than it was a short 2 years ago. A few years ago, and even during the beginning of last year, I was very cautious when taking a listing because demand was slim for a regular (NON-FORECLOSURE) listing. Now I have no problem taking a listing with the right sellers who understand some of the challenges of today's market and what it takes. In fact, truth be told, I have started marketing to sellers directly for the first time ever just a short couple weeks ago as I feel the market is now slowly turning their way although it is still an official buyers market at this point in time.

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