Dashboard: Oro Valley Single Family Home Sales

Oro Valley Homes: A Seller's Market

Oro Valley home sales have been stable during the first six months of this year, averaging about 80 home sales per month. We draw this conclusion after reading the July report by Long Realty.

The report emphasizes month to month changes in home listing and sales activity:

"In the Oro Valley area, June 2017 active inventory was 272, a 5% decrease from June 2016. There were 79 closings in June 2017, a 31% decrease from June 2016. Year-to-date 2017 there were 490 closings, a 3% increase from year-to-date 2016. Months of Inventory was 3.4, up from 2.5 in June 2016. Median price of sold homes was $292,000 for the month of June 2017, up 8% from June 2016. The Oro Valley area had 93 new properties under contract in June 2017, up 16% from June 2016."

We like to look at a broader period of time. Thus, our emphasis on six months.

Oro Valley is is a "seller's" market. The median home sale price has increased to almost $300,000.  The Long report concludes that it is a seller's market for homes priced below $500,000. Generally it is balanced market between buyer and seller for homes priced greater than that.
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Source: Long Realty July Report

Bits and Pieces

Zinkin Agrees: Town Does Not Pay Officers For Commute Time

"On 2/11/15 Mayor Hiremath, Vice Mayor Waters, and I met with the Town employees. As a result , I learned many things. However there is one item that I need to correct ASAP.

In the Power Point over the police department overtime, I stated that the Town spends approximately $113,000 to individuals for commuting to and from work. I assumed this to be the case because the PD Procedures state the an officer that drives a marked vehicle shall check in when they leave for work, and checkout when they return home.

I thought the "checking in" was the same as starting the pay clock. I was not correct. The reason for checking in has to due with Town liability, not pay. Police time clock does not start at that time. The $113,000 figure was not correct. I apologize for giving the impression that we were paying for officers."

Mike Zinkin
Oro Valley Town Council Member
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Baloons Being Added To A-Frame Signs In Oro Valley?

Item 4 on next week's Oro Valley Tow Council meeting agenda is allowing balloons on signs and more illuminated window signs.

"Area businesses have requested illuminated window signs and the use of balloons in a variety of applications, including:

• Allow regular size balloons during grand openings 
• Inflatable balloons (i.e. restaurant mascots, inflatable tire for tire store, etc.) 
• Allow balloons to be affixed to approved A-frame signs 
• Allow balloons along street frontages"

As one reader wrote us: "Apparently A-Frames are not very effective, when there is a need to add on balloons to gain attention. How much more driver distraction do we need in parking lots and busy street? All the current relaxed codes for business signage and merchants still can't bring customers in?"
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Long Realty Reports Oro Valley Shows Tepid Oro Valley Housing Market

"In the Oro Valley area, January 2015 active inventory was 334, an 8% decrease from January 2014. There were 43 closings in January 2015, a 12% decrease from January 2014. Months of Inventory was 7.8, up from 7.4 in January 2014. Median price of sold homes was $254,000 for the month of January 2015, up 3% from January 2014. The Oro Valley area had 72 new properties under contract in January 2015, up 9% from January 2014." (Source: Long Realty)
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February 18 Coffee with a Cop at Fry's La Cañada and Lambert

The Oro Valley Police Department is excited to announce its February Coffee with a Cop event. It will be on Wednesday, February 18, 2015 from 8-10 a.m. at the Starbucks located inside Fry's at La Cañada and Lambert...The goal of this program is to break down barriers between the public and police officers. The majority of contacts law enforcement has with the public is during emergencies, traffic stops or emotional situations. Those situations are not always the most effective time for relationship building with the community. Coffee with a Cop allows a relaxed, one-on-one interaction between the community and local police officers (Source: Oro Valley Press Release)
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California Company Coming To Oro Valley

According to a TREO press release, LCMS Laboratories Inc is coming to Tucson. The company is expected to create up to 40 high quality jobs. "The new laboratory, located at 10831 N. Mavinee Drive, Suite 105 near Innovation Park, in Oro Valley, will provide clinical diagnostics, contract research organization (CRO) support and diagnostic test development."

"'We are very pleased that LCMS Laboratories has decided to expand in Oro Valley," said Satish Hiremath, mayor of Oro Valley. "Oro Valley has become a hub for bio-science, diagnostics and high-tech industries, with companies like Ventana Medical Systems, Sanofi and Securaplane. LCMS Laboratories will help strengthen the town's reputation for these industries and enrich our community with its talented, diverse workforce."'

(Source: TREO Press Release)
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Bye-Bye Radio Shack

Oro Valley's Radio Shack in Rooney Ranch Center will be closing. It is one of thousands of Radio Shack that will be closed. Radio Shack, which filed for bankruptcy last week, will become part of another company. There will be a liquidation sale.
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