Ricardo Coppel / Team Coppel - Tucson Realtor

10/06/2022

This information was provided by my Colleague David Winter and is excellent information.

Market in a minute.

Some stats from September closings, compared to May through August closings. These next few months (including September start to reflect the rise in interest rates that have occurred since the beginning of the year.

May: Under $249K: 353 closings, 17 DOM, 100.5 list to sale price

June: Under $249K: 334 closings, 19 DOM, 99.4 list to sale price

July: Under $249K: 321 closings, 17 DOM, 99.2 list to sale price

Aug: Under $249K: 301 closings, 23 DOM, 97.91 list to sale price

Sept: Under $249K: 259 closings, 26 DOM, 97.18 list to sale price

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May: $250K – $399K: 927 closings, 14 DOM, 101.72 list to sale price

June: $250K – $399K: 866 closings, 14 DOM, 101.12 list to sale price

July: $250K – $399K: 791 closings, 16 DOM, 99.9 list to sale price

Aug: $250K - $399K: 768 closings, 21 DOM, 99.20 list to sale price

Sept: $250K - $399K: 650 closings, 27 DOM, 98.43 list to sale price

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May: $400K - $599K: 494 closings, 20 DOM, 101.47 list to sale price

June: $400K - $599K: 462 closings, 21 DOM, 100.69 list to sale price

July: $400K – $599K: 411 closings, 21 DOM, 99.7 list to sale price

Aug: $400K - $599K: 351 closings, 20 DOM, 99.11 list to sale price

Sept: $400K - $599K: 297 closings, 31 DOM, 98.58 list to sale price

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May: $600K - $799K: 170 closings, 14 DOM, 102.43 list to sale price

June: $600K - $799K: 141 closings, 15 DOM, 101.83 list to sale price

July: $600K – $799K: 115 closings, 24 DOM, 100.0 list to sale price

Aug: $600K - $799K: 119 closings, 24 DOM, 98.61 list to sale price

Sept: $600K - $799K: 100 closings, 27 DOM, 99.00 list to sale price

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May: $800K - $999K: 58 closings, 16 DOM, 103.37 list to sale price

June: $800K - $999K: 59 closings, 17 DOM, 102.12 list to sale price

July: $800K – $999K: 57 closings, 20 DOM, 100.0 list to sale price

Aug: $800K - $999K: 44 closings, 23 DOM, 97.47 list to sale price

Sept: $800K - $999K: 26 closings, 35 DOM, 99.01 list to sale price

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May: $1M - $1.49M: 39 closings, 42 DOM, 100.34 list to sale price

June: $1M - $1.49M: 39 closings, 10 DOM, 104.24 list to sale price

July: $1M – $1.49M: 26 closings, 23 DOM, 101.48 list to sale price

Aug: $1M - $1.49M: 29 closings, 16 DOM, 99.38 list to sale price

Sept: $1M - $1.49M: 15 closings, 29 DOM, 97.8 list to sale price

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May: $1.5M - $1.99M: 14 closings, 19 DOM, 103.57 list to sale price

June: $1.5M - $1.99M: 13 closings, 28 DOM, 101.05 list to sale price

July: $1.5M – $1.99M: 12 closings, 21 DOM, 99.50 list to sale price

Aug: $1.5M - $1.99M: 8 closings, 105 DOM, 93.76 list to sale price

Sept: $1.5M - $1.99M: 9 closings, 31 DOM, 101.72 list to sale price

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May: Over $2M: 6 closings, 118 DOM, 97.88 list to sale price

June: Over $2M: 7 closings, 39 DOM, 98.51 list to sale price

July: Over $2M: 4 closings, 60 DOM, 92.6 list to sale price

Aug: Over $2M: 6 closings, 399 DOM, 91.16 list to sale price (one property on market for 1,833 days, the remainder 133)

Sept: Over $2M: 3 closings, 114 DOM, 100.11 list to sale price (limited number of closings makes these numbers relatively insignificant)

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Pricing: Average Sale Price Median Sale Price
May $415,185 $350,000
June $415,645 $355,000
July $403,396 $350,500
Aug $396,377 $345,000
Sept $389,702 $342,500

This was pulled from MLS, residential properties only, filtered strictly by price (all areas included).

Closed sales are definitely declining, but that traditionally happens during the summer months in our market. Continued consistency in DOM and LP/SP ratio across almost all price bands except for $1.5M+, where LP/SP was above 100%. Remember that LP/SP ratio is based on last listed price, not original listed price, so does not take into account interim price changes.

DOM continues to move upward slowly, although still a pretty fast moving market averaging under 30 days.

1 takeaway. Sellers historically act slower than buyers in a changing market. Sellers willing to react to changing market conditions and agents who guide them skillfully will be more successful.

10/04/2022

If you need to get your evaporative cooler, serviced, shut down or started, I highly recommend The Cooler Guys. They show up on time and do exactly what needs to be done and never upsell you on anything.


10/02/2022

Just Listed in Tucson Mountain Sanctuary- $330,000.

Ricardo Coppel
Associate Broker / V.P. / Trainer
Long Realty Company

07/31/2021

Fast Start to Real Estate in 2021

The housing market was fast and furious in the first half of 2021. The pandemic, which started in early 2020,
sparked an increased demand for housing which was further fueled by historically low interest rates. This created
a “run” situation on available listings that were in limited supply. Multiple offers and homes selling almost “real
time” became the norm, with large gains in home values as a result. Those fast market conditions created
challenges for buyers trying to find a home to purchase and tilted the market to a strong seller’s market. Increases
in home equity, strong market fundamentals, government stimulus, and recovering employment so far staved off
the risk of increases in foreclosures or a market crash.

Click below for detailed information on the MID-YEAR MARKET REPORT FOR TUCSON AND SOUTHERN ARIZONA.

http://www.longrealtyonline.com/MarketReportGenerate.asp?Agent=2002670&File=MY2021

07/06/2021

We just listed an amazing property in the Tanque Verde Valley area in Tucson, AZ. What is your favorite feature of the home?

This is "3182 Spirit Dancer Trail, Tucson, AZ (MLS)" by ListerPros on Vimeo, the home for high quality videos and the people who love them.

04/14/2021

Tucson NORTH Housing Report for April 2021.

In the Tucson North area, March 2021 active inventory was 108, a 71% decrease from March 2020.

There were 179 closings in March 2021, a 17% increase from March 2020.

Year-to-date 2021 there were 441 closings, a 5% increase
from year-to-date 2020.

Months of Inventory was .6, down from 2.4 in March 2020.

Median price of sold homes was $495,000 for the month of March 2021, up 15% from March 2020.

The Tucson North area had 191 new properties under
contract in March 2021, up 31% from March 2020.

02/19/2021

We have over 45% market share in the Luxury Market. We have access to listings that are going to be going on the market prior to the public knowing and agents from other companies. That is the advantage of working with me and Long Realty Company.

Call 520-271-4004 for your Real Estate Needs...

02/19/2021

We wanted to thank Lew and Kathy VanSant for allowing us to represent them in successfully selling their beautiful home in La Reserve. LOVED the backyard with the pool, vegetation, and views of Pusch Ridge. We know the Buyers will appreciate and enjoy your home just as much as you both have.

We also want to thank the following People/Companies below as they were also part of the transaction and made it possible for everyone involved to have an excellent experience…

Edie Witczak with Tierra Antigua Realty who represented the Buyers. She did a great job of consulting her Buyers. Her professionalism and communication made it for a smooth transaction. Thank You!!!

Paula Brown and her assistants with Fidelity National Title who handled the Escrow. Thank you for allowing us to sign in person during these times. Nice to be able to sit down with each other around the table.

Russ Dennis with Sunstreet Mortgage who handled the loan for the Buyers and did a great job. He and his team kept everyone in the loop and the loan closed on time.

We also want to thank the following Companies: Sierra Home Inspections, Tonys Tech Pool, Spencer Roofing, Roofs R Us, Rigo Pest Prevention, Code Blue Plumbing and ListerPros.

Congratulations to Everyone…

Click on link to see Video of Beautiful Home https://vimeo.com/500961409

02/18/2021

In the Tucson Luxury market, January 2021 active inventory was 155, a 43% decrease from January 2020. There were 62 closings in
January 2021, a 114% increase from January 2020.

Months of Inventory was 2.5, down from 9.3 in January 2020.

Median price of sold homes was $993,193 for the month of January 2021, down 4% from January 2020.

The Tucson Luxury area had 80 new properties under contract in January 2021, up 105% from January 2020.

Call us for a complimentary market analysis of your home.