A client was asking how 2014 went for home sales in Tucson. So here are the data and my thoughts.
Despite a slight drop in sale prices, the Tucson homes market was remarkably stable in 2014. And that is good for both buyers and sellers.
The number of Tucson area homes (of all types) sold in 2014 was 13,739 which was down slightly from 2013 when 14, 819 homes sold. The average sale price of a Tucson home in 2014 was $202,740, which was up from 2013's average of $197, 584. This is the first year since 2009 that the average sale price broke above the $200,000 level.
2014 started out with cash sales leading the way but by the end of the year, conventional loans were the primary financing means for buyers.
Short sales and foreclosed property sales continued to decline, which is also leading to market stability.
I am happy to email you a copy of the full Tucson home sales report, so just drop me an email at JimWilson312@yahoo.com