TUCSON, AZ – The Tucson Association of REALTORS® MLS (TARMLS) is pleased to announce that as of January 1, 2016 the new name is Multiple Listing Service of Southern Arizona (MLSSAZ). MLSSAZ will be a single MLS for the membership of the Tucson Association of REALTORS®, Green Valley/ Sahuarita Association of REALTORS®, and the Santa Cruz County Board of REALTORS®.

Four years ago, TARMLS started a project with the MLSs in Southern Arizona to standardize the way data was input and tracked. When that project was completed, the executives and leadership of TARMLS, the Green Valley/Sahuarita MLS, and the Santa Cruz County MLS continued to meet and discuss the concept of a Regional MLS (a single MLS that spans the territory of more than one REALTOR® Association). The taskforce that was put in place saw the benefits to MLS Subscribers across the region and decided to proceed with a Regional MLS.

Over two years and with much discussion, the taskforce recommended to the Board of Directors for all three organizations that a regional MLS be formed. On December 10, 2015, the final approval was received from the TARMLS shareholder (Tucson Association of REALTORS®), to proceed with the regionalization and do business as the MLS of Southern Arizona beginning January 1, 2016.

Henry Zipf, 2015 MLS Board President who served on the MLSSAZ taskforce explained, “We had an amazing group of leaders from all three MLSs, and I am proud to have been a part in the process of bringing our organizations together for the benefit of our Subscribers.”

“The new regional MLS will have benefits from all three MLSs. Our Subscribers will see increased efficiency, data quality, and cooperation across the region.” Sean Murphy, the MLSSAZ Executive Vice President, said, “First and foremost, MLSSAZ will be a unified MLS to offer cooperation for the greater Tucson, Green Valley/Sahuarita, and Santa Cruz County areas. When completed, MLS Subscribers will have access to all of the listing information and a larger pool of potential buyers without having to join multiple MLSs. MLSSAZ will also have a single Flexmls system, single set of rules, and robust set of tools and services for the entire region.”

During the first quarter of 2016, the MLSSAZ team will begin merging the databases into one. There will be a new set of rules and regulations which was created by all three of the MLSs involved with the regionalization. During the transition, MLSSAZ will provide Subscribers with notices and educational tips regarding the new rules.

“The team at MLSSAZ is excited for the opportunity to join with the REALTORS® in Green Valley/ Sahuarita and Santa Cruz County areas,” said Murphy. He adds, “The response from the participating MLS Services has been very positive.”

Judi Monday, President of the Green Valley/Sahuarita Board of Realtors stated, “We’re excited about the launching of the Multiple Listing Service of Southern Arizona (MLSSAZ) as it represents the opportunity to evolve in the same direction that the real estate industry is headed and ensures that we are upholding our sworn pledge to protect and promote the interests of our clients.”

Carlos Ramos, President of the Santa Cruz County Board of REALTORS® said, “We welcome the opportunities the Multiple Listing Service of Southern Arizona (MLSSAZ) will provide, including accurate and timely real estate data to better serve clients and fellow REALTORS® along the Arizona I-19 corridor and surrounding communities.”

Tucson Association of Realtors (TAR/MLS) is reporting that following a pause in January, every core measure of Tucson home sales improved in February. Selling prices, inventory and pending contracts all showed gains while home sales increased 16.2%.

February home sales were 935 units, a slight dip compared to a year ago, but 130 more sales than in January. Month over month, the median selling price increased about $6,750 to $167,000 (+4.2%) and the average selling price increased about $14,500 to $209,403 (+ 7.5%).

Housing inventory also grew slightly in February to 5,857 units, about a 5.1-month supply. Nationally, the supply is about 4.7 months, according to the National Association of REALTORS®.

For 2015, the economic fundamentals remain in place for another year of improvement in the Tucson-area’s housing market.

YEAR-OVER-YEAR HIGHLIGHTS

MONTH-TO-MONTH HIGHLIGHTS 

Click here for Full Report https://www.tucsonrealtors.org/docs/default-source/Stats/statsfeb2015.pdf?sfvrsn=0

The regional Tucson housing market appears to have reached stability during 2014, based on year-end data from the Tucson Association of REALTORS® Multiple Listing Service (TAR/MLS). Although 2013 was slightly better based on straight statistics, 2015 is shaping up as a year of continued improvement.

“During 2014, most of the housing and economic metrics relevant to Tucson moved solidly in the right direction.  Although price growth flattened out, most of the local housing and economic factors are fundamentally better.  That leads us to believe that 2015 will be a year of stability, enabling our housing market to continue to progress,” said TAR President Nicole Brule-Fisher.

“The big monthly swings in selling prices, the impact of buy-and flip cash investors distorting our market, and the era of skyrocketing foreclosures are likely over.  This shows evidence and signs of a more sustainable, healthy market that is in recovery mode,” she added.

Year-over-year, the Average and Median Selling Prices were moderately higher.  Unit sales only dipped by 759 homes, keeping the total sales volume basically flat at $2.7 billion.

The most notable gain was in listings as 2014 ended with 8.3% more homes in inventory (5,577 units, an increase of 427 homes).

Before The Great Recession, the Average Selling Price at year-end peaked in 2005 at $267,044.  It hit bottom in 2011 at $161,471.  It stands at $205,015 currently; 23.2% below the peak.

The Median Selling Price at year-end also peaked in 2005, at $221,900.  The bottom was in 2011 at $120,000.  The current level of $165,000 is 25.6% below the peak, according to TAR/MLS.

As the housing market recovered, the Median Selling Price spiked 22.9% from 2011 to 2012.  That preceded an additional price appreciation of 7.1% from 2012 to 2013; followed by another 4.5% price gain during 2014.

“As these price increases gradually flatten out, this shows signs of a healthy market in recovery.  There are tremendous opportunities for first-time buyers in our current market with near record-low interest rates.  This translates to more home for the first-time buyer and with each payment made, that builds equity in what is likely their single-largest investment,” Brule-Fisher said.

“Overall, our current home market is very good for Tucson and our strengthening economy.  These traditional buyers want a home to live in and thereafter, have an increased commitment to and investment in, the community,” she added.  “In 2015, that will help to drive the real estate market back toward normality.

2014 Year-over-year Housing Highlights

• Sales: 13,184 home sales in 2014 were 5.4% less than 2013 (13,943 homes)
• Total Sales Volume:  $2.685 billion in 2014 was basically flat with 2013 ($2.681 billion)
• Medium Sales Price:  $165,000 in 2014 was 4.5% higher than 2013 ($157,900)
• Average Sales Price: $205,015 in 2014 was 1.3% higher than 2013 ($202,342)
• Active Listings:  5,577 homes in 2014 were 8.3% more 2013 (5,150 homes)

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