| Interest Rate Update + September Market Statistics + My Listings and Sales
Dear Friends,
In the weeks leading up to the Federal Reserve’s highly anticipated Sept 18 meeting, where they announced a 0.5% cut in the Federal funds rate from 5.5% to 5.0%, the 30-year fixed mortgage rates experienced a gradual but steady decline. From May's average rate of 7% to today’s 6.08% rate marks a 14% decrease and the lowest level in two years. The Fed will continue to monitor economic data to determine the pace and extent of future rate cuts. I will continue to keep you updated on the interest rate cuts.
September Market Statistics and how they compare to the previous year
New Listings - 1,380 up 113 properties
Closed Sales - 730 down 13.1%
Average Days on Market Until Sale - 45 up 11 days
Median Sales Price - $375,000 up 2.6%
Average Sales Price - $441,162 up .1%
Total # of Active Listings - 3,123 properties
Average Months of Supply - 4.28
Pending Sale in Oro Valley
12851 N Whitlock Canyon Drive - Listing Price $829,000
4BR/2.5 Baths, Great room concept, 3-car garage, pool & spa, putting green, mountain and sunset views. Two new HVAC units, a new tile roof, and a new high-efficiency pool pump. This home is updated, upgraded, and closes on 10/15/24!
Sold in 85745
3475 W. Sweetwater Drive - Sold Price $605,000
2BR+Den/2.5 Baths, 2,185 sqft, 7-car garage with workshop and 1 BA, 3.45 acres of land, and a private gated entrance.
Sold in 85718
4951 N Valley View in the Foothills - Sold Price $1,225,000
3BR+Den+Flex space/2.5 Baths+ 3,100 sqft, 3-car air-conditioned garage, pool,.88 acres of land, fully fenced property with a private gated entrance.
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| | Smart Home Systems - Gadgets Worth Investing In | | Smart home systems are transforming the way we live, making homes safer, more efficient, and easier to manage. From advanced security to energy-saving devices, these innovations offer convenience and real value. Let’s explore the smart technologies that can protect your home, lower bills, and even increase its market value.
- Smart Security Systems: 24/7 Peace of Mind
Today’s smart security systems go beyond traditional alarms, offering real-time monitoring and remote access via your smartphone. Video doorbells and cameras with motion detection and cloud storage let you monitor your home from anywhere, as well as see and speak to visitors remotely. - Smart Locks: Remote Access
Gone are the days of hiding spare keys under doormats. Smart locks allow you to lock or unlock your doors remotely via phone and set temporary access codes for guests or service providers. Some locks even integrate with voice assistants, allowing you to lock your door with simple voice commands. - Smart Thermostats: Lower Bills
Smart thermostats are one of the most popular energy-saving devices, with the ability to learn your habits and adjust temperatures accordingly. They optimize your home’s heating and cooling based on real-time data, reducing energy consumption by up to 10%. Over time, this can lead to substantial savings on utility bills, while also boosting the property’s eco-friendly appeal. - Smart Lighting: Energy Efficiency and Ambiance
Smart lighting systems let you control your lights remotely, schedule on/off times, and even change colors to suit the mood. LEDs use up to 90% less energy than traditional bulbs, and since lighting accounts for around 15% of an average home's electricity use, smart lighting smart lighting significantly cuts costs. - Smart Home Hubs: Centralized Control for Simplicity
Smart home hubs, which are central systems integrating all your smart devices, allow you to control everything from one place - whether by app or voice command. Systems like Amazon Alexa and Google Assistant have shaped the industry by making it easy to create routines that adjust lighting, lock doors, and control temperatures with a single command. Integrating a smart hub not only simplifies home management but can also add market appeal, especially for tech-savvy buyers. - Smart Sensors: Proactive Monitoring
Beyond security cameras, smart sensors provide an additional layer of protection. Flood sensors alert you at the first sign of water leakage, and smoke or carbon monoxide detectors can send real-time alerts to your phone. These devices can automatically shut off water systems or trigger alarms, preventing costly damage and keeping your home safe.
Smart technology not only makes life easier but also boosts property value. 78% of buyers are willing to pay more for homes with smart systems, and the energy savings can add up to thousands over time. Embracing smart home systems is more than a trend – it’s a wise investment that enhances your home’s safety, efficiency, and market appeal.
If you have any questions about the real estate market or the value of your home, please call or text me. Thank you for your business and your referrals!
Sincerely,
Mary Tosca
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