Oro Valley Home Prices (Tucson: bank owned, short sales, foreclosures)

[benGinTx]

Hello, we are considering a move to the Tucson area. Based on what we have read, Oro Valley seems like a good fit (beauty and good schools). In looking at the city profile information on City Data, it shows the average home price to be 387k for a single family, detached home . Is that figure accurate? we are looking for a home that is at least 2200 square feet, with a view, inground pool in a highly rated school system. When looking on realtor.com, we are finding homes that appear to meet our critera and are within our price range of 225k to 300k in OV. Is there likely something wrong with thes homes since they are so far below what is listed as the average home price for that area?

Any insight on home prices in the OV area meeting my description above would be much appreciated.

Thanks in advance!

Ben

[RickTucsonHomes]

Originally Posted by benGinTx

Hello, we are considering a move to the Tucson area. Based on what we have read, Oro Valley seems like a good fit (beauty and good schools). In looking at the city profile information on City Data, it shows the average home price to be 387k for a single family, detached home . Is that figure accurate? we are looking for a home that is at least 2200 square feet, with a view, inground pool in a highly rated school system. When looking on realtor.com, we are finding homes that appear to meet our critera and are within our price range of 225k to 300k in OV. Is there likely something wrong with thes homes since they are so far below what is listed as the average home price for that area?

Any insight on home prices in the OV area meeting my description above would be much appreciated.

Thanks in advance!

Ben

I have lived in Oro Valley for 20 years. There are plenty of nice homes in Oro Valley for 225-300K. Last month in Oro Valley the average price for what was sold was about 275K, the median price was around 240K. We have several luxury home communites with 1 million dollar plus homes that can sometimes skew the averages. I keep updated stats on my website that I update monthly. Some great deals on bank owned homes, most under 100 square foot, many in the low 90's sf. Some not so great shape, some as good as any resale home. Regular resale, or bank owned there is plenty of inventory for you to choose from. Schools are considered to be very good by most that live here. You can also check on GreatSchool.org. In general stats from outside sources don't paint an accurate picture, old data, partial data etc. Stats from the TAR (Tucson Assocaiation of Realtors) will give the most accurate read of what is happening in the current market. If you look at the last six months of homes sold in Oro Valley, under 500K,(eliminating custom and semi custom homes) there have been 239 single family homes sold in Oro Valley at a 125.00 Sq ft average price. So as I said, there is plenty for you to choose from. Hope this is helpful.

Rick

[Mountainsofmisery]

Originally Posted by benGinTx

Hello, we are considering a move to the Tucson area. Based on what we have read, Oro Valley seems like a good fit (beauty and good schools). In looking at the city profile information on City Data, it shows the average home price to be 387k for a single family, detached home . Is that figure accurate? we are looking for a home that is at least 2200 square feet, with a view, inground pool in a highly rated school system. When looking on realtor.com, we are finding homes that appear to meet our critera and are within our price range of 225k to 300k in OV. Is there likely something wrong with thes homes since they are so far below what is listed as the average home price for that area?

Any insight on home prices in the OV area meeting my description above would be much appreciated.

Thanks in advance!

Ben

Just came back from a visit there looking for a condo. Very nice area in the foothills above the city. Good shopping and access to outdoor activities. The average home price figure is skewed by multi-million dollar homes. The median price is probably more valid and likely that would put you below the $300k. You have to visit of course but based on our experience, you will find an inventory of homes meeting your criteria for the price you want.

[USNomad]

Originally Posted by benGinTx

Hello, we are considering a move to the Tucson area. Based on what we have read, Oro Valley seems like a good fit (beauty and good schools). In looking at the city profile information on City Data, it shows the average home price to be 387k for a single family, detached home . Is that figure accurate? we are looking for a home that is at least 2200 square feet, with a view, inground pool in a highly rated school system. When looking on realtor.com, we are finding homes that appear to meet our critera and are within our price range of 225k to 300k in OV. Is there likely something wrong with thes homes since they are so far below what is listed as the average home price for that area?

Any insight on home prices in the OV area meeting my description above would be much appreciated.

Thanks in advance!

Ben

I recently lived there and you can almost get whatever you want with your price range due to the # of short sales and foreclosures in the area. I sold my house in that area for 80k less than what I paid for it in 2007. Plenty of choices. Check out Zillow for comps in the OV area...