This month’s market report just came out—and just for comparison I looked back at the January 2012 to see how far we have come. Thankfully, pretty far- but still nowhere near boom prices. There were almost 70 more homes on the market in Oro Valley at this time in 2012 and the median price of sold homes was under $230K, over 50K less than the current median of $281,000. Good news, right? When we delve a little further and look at sales by price band, you can really see some extreme changes. Under 300K, only 98 homes were available in OV this past month, as opposed to a whopping 225 properties in 2012. Upper tier priced homes are a bit scattered, but overall anywhere north of 500K is still a buyer’s market . The million dollar plus market is continuing to move slowly and has swollen to 35 listings, up from the 24 on market as referenced in the January 2012 report. We also have to take into consideration the massive amount of homebuilding that has taken place in Oro Valley the last several years with much more slated to start in the coming months and years- sales not always reflected by MLS data. All in all- it’s good news- the market is doing quite well! If you are thinking of selling your house, there are buyers out there waiting!
Check out your specific area full report with easy to digest graphics here.