Dear Friends,
In this month's newsletter, I'll share the latest happenings in real estate. You'll find January market statistics, updates on my recent listings and sales, and information on understanding homeowner's insurance. Please let me know if you need a referral to an insurance broker who can review your coverage.
Below are the January 2025 market statistics the Tucson Association of Realtors reported.
New Listings - 2,217
Closed Sales - 875
Average Days on Market Until Sale - 59
Median Sales Price - $365,000
Average Sales Price - $456,163
Active Listings - 4,355
Months of Supply - 4.97
Despite increasing inventory levels, increasing days on the market until sale, and interest rates holding steady at 7%, the average sale price in the Tucson market has increased 8.8% over the previous year!
Coming Soon Listings
I have two upcoming Foothills listings. If you know anyone looking for housing in the 675k-830k range, please give them my contact information.
5121 N Apache Hills Trail 85750
Listing Price $826,800
4 Bedrooms/2 Baths/2-car garage
2,060 sqft, built in 1989
.83-acre elevated lot with room to build a guest house or pool
Catalina Foothills School District 16
New features include a tile roof, a garage door, five ceiling fans, stove and microwave, and a remodeled dining room. The seller had a licensed contractor sand and stain all the interior cabinetry. This is a move-in-ready Foothills property.
7211 E River Canyon Way 85750
Listing Price $675,000
2 Bedrooms + Den/2 Baths/2-car garage
2,400 sqft, built in 1979
.25-acre lot with stunning Catalina Mountain views from the backyard. Community Pool, Spa, and Recreation Room—The HOA maintains the front yard landscaping, garbage collection, and street maintenance.
The backyard has five mature fruit trees, a waterfall, and a bocci ball court! The kitchen and two bathrooms have been updated with modern finishes. This gem is near Sabino Canyon and River Road.
Active Listings
 Property Website 31651 S Gulch Pass Rd
31651 S Gulch Pass Road Oracle 85623
Listing Price $650,000
2 Bedrooms + Den/2.5 Baths, 2072 sqft
A golf cart is included in the sale!
Live the Saddlebrooke Ranch active lifestyle and enjoy all the amenities, such as golf, tennis, pickleball, athletic facilities, art classes, multiple pools, and restaurants. This home has mountain and golf course views and a remodeled kitchen and baths.
 Property Website 508 W 17th St
508 W 17th Street Tucson 85701
Listing Price $399,000
3 Bedrooms/2 Baths, 1413 sqft, secure off-street parking
We recently discovered foundation issues in the historic section of the home. The seller has contacted a structural engineer to evaluate the home. Once we have the specific findings, the price will be reduced further.
Pending Sales
 Property Website 424 W Wheeler Rd
424 W Wheeler Road Oro Valley 85737
Listing Price $440,000
3 Bedrooms + Den/2 Baths,1849 sqft
New interior paint, private yard, single-story, and located in the heart of Oro Valley. Multiple offers were received and under contract in one day!
 Property Website 6217 N Pascola Cir
6217 N Pascola Circle Tucson 85718 - Under Contract in 6 days!
$565,000 Listing Price
A three-bedroom, two-bath townhome with 1800 sqft and a two-car garage features an updated kitchen, baths, and newer flooring, making it move-in-ready. Kachina Hills is a gated neighborhood with entrances off Swan and Pontatoc. The HOA maintains a community pool, spa, and the streets. It is close to all major conveniences and a low-maintenance home.
11326 N Meadow Sage Drive Oro Valley 85737
Listing Price $750,000 - Buyer Represented Sale
A meticulous home in Oro Valley on a .58-acre lot came on the market. Multiple offers were received, and my clients won the bid! I am thrilled for them. This home features 4 Bedrooms/2.5 Baths/3-car garage, 2500 sqft, a pool and spa, an expanded yard turned into a garden, and new windows and doors throughout the home.
Closed Sales
8236 E Crooked Tree Trail Tucson 85715
Sold Price $475,000 - Sold in 7 days!
4 Bedrooms/2 Baths, 2236 sqft, 2-car garage
Listing Price $485,000
3884 E Calle Cayo Tucson 85718
Sold Price $1,005,750 - Sold in 31 days!
3 Bedrooms/3 Baths, 3273 sqft, 2-car garage
Listing price $1,075,000
3221 N Riverbend Place Tucson 85750
Sold Price $850,000 (Seller paid 1.5% in concessions) - Sold in 4 days!
4 Bedrooms/3.5 Baths, 2700 sqft, 2-car garage, horse facilities, swim spa
Listing Price $850,000
Understanding Home Insurance: Are You Fully Covered?
|  | Home insurance protects your most valuable asset—your home. With various coverage types and exclusions, potential gaps can be easy to overlook. This guide will help you understand the basics and ensure you have the coverage you need for peace of mind.
What Does Home Insurance Typically Cover?
Most standard home insurance policies cover the following:
- Dwelling Coverage: Protects the structure of your home, including walls, roof, and built-in systems, from damage caused by covered events like fires, storms, or vandalism.
- Personal Property: Covers personal belongings, such as furniture, electronics, and clothing, up to a certain limit.
- Liability Protection: Provides coverage if someone is injured on your property or if you accidentally damage someone else’s property.
- Additional Living Expenses (ALE): Pays for temporary housing and living expenses if your home becomes uninhabitable due to a covered event.
Common Gaps in Coverage
While home insurance covers a wide range of risks, there are some situations that might not be included:
- Floods and Earthquakes: These are typically excluded and require separate policies.
- Wildfires in High-Risk Areas: Standard policies usually cover fire damage, but you may need supplemental coverage if you live in a wildfire-prone area.
- High-Value Items: Jewelry, art, or collectibles may exceed personal property limits.
- Maintenance-Related Damage: Issues like mold, pest infestations, or gradual wear and tear are typically not covered.
How to Assess Your Coverage Needs
- Know Your Home’s Value: Ensure your dwelling coverage reflects the cost to rebuild your home at current material and labor prices, not just its market value.
- Evaluate Your Belongings: Inventory your possessions to ensure your personal property limit is adequate. Many insurers offer apps or tools to simplify this process.
- Consider Local Risks: If you live in an area prone to wildfires, flooding, or earthquakes, explore specialized coverage options.
- Consider Liability Risks: If you have a pool, trampoline, or frequent visitors, you may need higher liability limits or umbrella insurance.
Tips for Filling Coverage Gaps
- Supplement for High-Risk Events: Purchase separate flood or earthquake insurance if needed. In wildfire-prone areas, ensure you have enough fire insurance and explore extended replacement cost coverage for rebuilding.
- Review Deductibles: Check if your policy has a separate deductible for fire, wind, or other high-risk events. Adjust if necessary.
- Upgrade to Replacement Cost Coverage: Opt for policies that pay for the full cost to rebuild or replace damaged items, rather than factoring in depreciation.
- Consider Personal Property Riders: Add riders for expensive items like jewelry, electronics, or equipment.
- Add Home Business Coverage: If you run a business from home, standard policies may not cover related equipment or liability. Look into additional coverage options.
How to Save on Home Insurance
- Bundle Policies: Combine home and auto insurance with the same provider for a discount.
- Increase Your Deductible: A higher deductible can lower premiums, but ensure it’s an amount you can comfortably pay out-of-pocket.
- Improve Home Safety: Adding fire alarms, security systems, or storm shutters can qualify for reduced rates.
- Shop Around: Compare quotes from multiple providers to find the best rate for the coverage you need.
Home insurance is not a one-size-fits-all solution, and your needs may change. Regularly review your policy to ensure it adequately protects your home, belongings, and lifestyle.
As always, please feel free to reach out if you have any questions about your home, neighborhood, or the market. I'm here to help and would love to connect with you.
Sincerely,
Mary Tosca
Follow me on Instagram @marysellstucson |
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