Archive for November, 2008

October Statistics….Average Sales Price UP!

Thursday, November 13th, 2008

      The average sales price of homes rose from $217,397 in September to $226,435 in October, an increase of more than $9,000.  By comparison, the average home price in October 2007 was $259,557, representing an annual decrease of 12.76%.

  The number of homes sold during October  (823) decreased by 111 units from September  (934) while the sales volume decreased by 8.22% from $203,048,605 in September to $186,456,109 in October.   This is a reduction of more than $16,500,000.   

    It is believed many potential home buyers stayed on the sidelines during September and October waiting until November 4 when the Presidential election would be decided by the American public.  Constant political rhetoric about the economy for all levels of political races, put the “economy” front and center in the minds of potential home buyers, and that factor, combined with the swings in the stock market, put a damper on home buying.

    Once November 5 came, the day after the election, there appeared to be more interest by buyers looking at homes.  We are swinging into holiday season, a time of the year when buyers and sellers tend to put their plans on hold until after the first of the new year.  But with the new programs announced by the Government regarding re-working existing home loans, additional inventory may be taken off the market and help stabilize the market.

     We are also now entering the period of time when winter visitors arrive in sunny Tucson,  and many look at purchasing second homes tp get away from the snow and sleet of the northern states.   Canadians are also buyers in this market.

     Pending contract decrease by 9.69% to 755 units from 836 in September and the active listings increased by 1.65% to 7,988 from 7,858.  Inventory has decreased by 1,325 units from last year.  New listings decreased by 7 units from 2,039 in September to 2,032 in October. 

    The median sales prices of homes sold in October decreased only $500 to $180,000 from $180,500 in September.  In October 2007, the median sales price was $30,000 more at $210,000.

    The following is a breakout by zip code of active listings and those sold within each area.  A full 13 page breakout of these numbers is available by clicking on the “Resource” below.               

       
Zip Code # Active Listings # Sold Listings % of Active Listings 
               Sold
       
85601 12 1 8.33%
       
85614 387 27 6.98%
       
85619 15 0 0.00%
       
85629 232 46 19.83%
       
85641 388 29 7.47%
       
85653 215 22 10.23%
       
85658 176 10 5.68%
       
85701 51 3 5.88%
       
85704 231 17 7.36%
       
85705 217 13 5.99%
       
85706 383 58 15.14%
       
85710 296 30 10.14%
       
85711 202 26 12.87%
       
85712 195 25 12.82%
       
85713 341 29 8.50%
       
85714 59 8 13.56%
       
85715 175 18 10.29%
       
85716 195 14 7.18%
       
85718 437 32 7.32%
       
85719 216 17 7.87%
       
85730 200 30 15.00%
       
85735 111 9 8.11%
       
85736 63 5 7.94%
       
85737 286 33 11.54%
       
85739 242 17 7.02%
       
85741 168 29 17.26%
       
85742 284 29 10.21%
       
85743 348 40 11.49%
       
85745 289 33 11.42%
       
85746 272 38 13.97%
       
85747 198 25 12.63%
       
85748 125 22 17.60%
       
85749 232 12 5.17%
       
85750 326 21 6.44%
       
85755 285 31 10.88%
       
85757 136 24 17.65%
       
       
       
Average number of homes sold of Active     367.78%
       Listings   10.22%
       

                           

Resources:

Tucson Association of Realtors – October Statistics, In Depth Report

http://www.tucsonrealtors.org/tar-v2/stats_october.pdf

 

Tucson Medical Scene…Northwest Medical – Oro Valley

Wednesday, November 12th, 2008

   Northwest Medical Center, the new hospital located at 1551 East Tangerine Road, fills a large void in the medical landscape of northwest Tucson.  The new hospital serves the retirement population of Oro Valley and Saddlebrook.   It is a state of the art facility and its inpatient rehabilitation facility ranks within the top 10% of such facilities nationwide.

   The hospital, only three years old, is already undergoing expansion to make room for a new 25,000 square foot cardiac center in response to the needs of the community. 

    Like it’s sister facility, Northwest Hospital on La Cholla, Northwest Medical offers many of the same primary services, but obviously, because of the population served, does not offer the birthing center or new mothers programs.   Instead, the hospital offers podiatry, urology, inpatient rehabilitation,  and orthopedics services which are better suited to an active adult population.

    Northwest, both at La Cholla and Oro Valley, provides support groups and offers the Senior Circle, a program dedicated to people 50 years and older that provides information about nutrition and exercise.  Discounts for prescriptions and eyewear, and various services in the Tucson area are included in the membership.    Membership for one year for one person is $15.00 but multiple year and multiple person memberships are available at reduced rates.

     The Oro Valley Facility provides Community Education which includes a “Commit to Be Fit” program.  Nutrition and exercise is designed to help people lead a healthy lifestyle.   Tobacco cessesation programs for the public are offered as well as programs regarding heart health.

      The web pages for the Oro Valley facility and the La Cholla Facility are user friendly and offer a wealth of health information in the “Health Library”.  Information about various diseases and symptons, what to expect when one goes for certain tests, information about nutrition, a diet, weight, and stress management program, and a virtual tour of the anatomy are on line.  There is also a sympton manager in the Health Library. 

    Northwest at both Oro Valley and La Cholla,  have positions which must be filled and information regarding job application is also on the web site. 

Resources:

Health Library:

http://nwmcov.discoveryhospital.com/

Northwest Medical Center Oro Valley:

http://www.nmcorovalley.com/index.php

Tucson Medical Scene…Northwest Hospital

Tuesday, November 11th, 2008

   Northwest Hospital, located at 6200 North La Cholla Boulevard, serves the northwest area of town and is a part of the Community Health System, Inc.   Northwest opened Northwest Medical Center at 1551 East Tangerine three years ago and is opening Urgent Care Centers throughout the north and northwest areas of Tucson to serve this fast growing area of Tucson.  This area previously had no acute care hospital or medical facilities and yet had the greater proportion of retired people who lived in Saddlebrook as well as Oro Valley.

   Northwest has opened Urgent Care Centers at Ina and Shannon Roads;  Rancho Vistoso and Oracle which services the Rancho Vistoso/Sun City areas as well as Saddlebrook; Silverbell near Continenatal Reserve Loop which serves Del Webb’s Sunflower active adult community as well as the master planned community of Continental Ranch.  The latest Urgent Care center. La Paloma, serves the Catalina Foothills and is located at 4001 East Sunrise Drive and was opened within the past few months.

    As an acute care hospital, Northwest utilizes Genus MD, an interactive internet based online information systems about patients so that relevant medical information can be easily accessed including medications taken, allergies, medical history, or other patient information which may impact acute care.

    Northwest Hospital provides the primary services including Cardiac surgery and Rehab, Oncology, Orthopedics including knee and hip replacement, gastroenterology and nuclear science.  The Women’s Center is well known in Tucson because it caters to the special needs and problems of women and offers support groups, pre natal classes, the birthing center and support for mothers, as well as diagnostic imaging for women of all ages.

     The newly expanded Northwest Hosptial facilities supports more than 500 physicians with 30 different specialities.   Job vacancies are posted on the website which is listed below.

 

    Resources:

http://www.northwestmedicalcenter.com/inpatient_svcs.html

http://www.northwestmedicalcenter.com/

Urgent Care Centers:

http://www.northwestmedicalcenter.com/LaPaloma.php

http://www.northwestmedicalcenter.com/urgent_care.html

Tommorrow:  Northwest Medical Center Oro Valley

A Little September Progress…

Monday, November 10th, 2008

 

            The Multiple Listing numbers for September show a little progress in the reduction of inventory for the Tucson area market, with 31 more units sold in September as opposed to August.  September traditionally is a month when people are readjusting and school begins.

   Families who want to begin the school year in a new home made their purchases during the summer.  Likewise, parents purchasing homes for University of Arizona students made their  home selections  in July,   Generally, there is  a spike in homes sales in June, July, and August when school is out.

            A total of 934 units sold during September which is 160 more units sold that at the same time in 2007.  However, the median sales price declined $5,500 from the August price of $185,000 to September’s $180,500.  In September 2007, the median sales price was $215,000.  This can be attributed in part to the numbers of foreclosure and lender on properties on the market.

            But the average sales price was $217,397, declining 8.85% from the August number of $238,504.   The change from 2007 to 2008 is a negative 20.19% when the average price was $272,396.

             Home sales volume totaled $203,048,605 a decline of 5.72%over August.  However, in 2007, total sales were $210,834,713.   

            The numbers of pending contracts decreased by 42 units to 836, 4.78% over August, which was 878.  In September 2007, 989 units were pending.  The number of active listings rose to 7,858, a 1.22% increase over 7,863 in August but a 14.49% decline over Septebmer 2007 which was 9,190.

             A breakdown by zip code shows the following:                                   

  Zip Code

     # Active Listings

 # Sold Listings

Percentage of Actives Sold

85601

11

0

0%

85614

367

21

5.7%

85619

14

1

7.1%

85629

220

43

19.5%

85641

382

30

7.9%

85653

222

26

11.7%

85658

154

8

5.2%

85701

52

3

5.8%

85704

236

27

11.4%

 

 

 

 

 

 

 

 

85705

208

18

8.7%

85706

361

65

18%

85710

305

53

17.4%

85711

201

21

10.4%

85712

212

26

12.3%

85713

321

20

6.2%

85714

57

7

12.3%

85715

163

17

10.4%

85716

188

25

13.3%

85718

421

45

10.7%

85719

215

24

11.2%

85730

187

48

25.7%

85735

100

14

14%

85736

65

1

1.5%

85737

293

24

8.2%

85739

227

18

7.9%

85741

171

31

18.1%

85742

271

41

15.1%

85743

364

48

13.2%

85745

305

27

8.9%

85746

275

45

16.4%

85747

203

37

18.2%

85748

129

25

19.4%

85749

221

12

5.4%

85750

331

17

5.1%

85755

263

30

11.4%

85757

138

26

18.8%

      As Tucson begins to work it’s way through excess inventory, especially in large master planned communities, the price of properties is beginning to stabilize.  Older, more established neighborhoods are not seeing the same degree of downtrend as the newer homes built in 2004 to 2007 when prices skyrocked. 

     Winter visitors will soon be here and will find an array of solid properties on the market with very attractive prices, combined with extremely attractive interest rates. Now is the time to purchse a winter home in sunny Tucson, Arizona!

Resources:          

http://www.tucsonrealtors.org/tar-v2/stats_sept_08.pdf