April sellers bring May buyers! Real Estate update

• For April, 2023, there were 21 homes sold, compared to the 40 that were sold in March, 2023 (-47%.)  In April, 2022, there were 39 homes sold down (-46%.) 
• -The median sales price for April, 2023 was $485,000, compared to $455,263 in March 2023 (+7%.) $520,000 was the median sales price in April, 2022 (-7%.)
• -The sales price to list price was 98% in April, 2023, the same as in March, 2023.
• -The numbers of homes sold year-to-date at the end of March, 2023 was 99.
• -There are currently 48 homes on the market. The median list price is $537,400. Average days on market has decreased to 37.
• -There are currently 24 homes under contract. Only 14% of those sold over the original asking price.
• -There is currently 2.3 months of inventory, which represents Seller’s market in all price ranges from $300K to over $1M.

 Markets across the United States vary how much they are off in year over year closed transaction units. Some are off 10-15%. However, the overall Tucson market is down 25-30%. In the Pacific Northwest and California, where so many of our SaddleBrooke Buyers hail from, the markets are down as much as 40%! 

Agents are reporting an overall inventory shortage. Many feel they have good Buyers, but need listings to sell them!

Our April SaddleBrooke Buyer activity is decreasing. Most agents feel this is seasonal, but below normal seasonal activity. An MLS Economist says she thinks 2023 will continue to be an up/down year but next year we should return to more normal seasonality.

Attendance at our Open Houses continues to be somewhat active, although we expect the numbers to decrease as our seasonal visitors leave for the summer months. We enjoyed a very brisk rental market this winter season and are hopeful that some of these renters will sell their homes during the summer, then return here to make a purchase afterwards!

National Real Estate news from the Wall Street Journal