Each month the Tucson Association of Realtors® Multiple Listing Service comes out with Tucson’s monthly housing report. The numbers are out for the Tucson residential real estate market report April 2016.
Check out what home prices are doing in Tucson, AZ for April 2016.
Highlights of the Tucson Residential Real Estate Market Report for April 2016 are below:
- Total Sales Volume increased to 325,916,149 this month, a 3.39% increase from March’s number of $315,222,675, and has risen by 11.82% since April 2015.
- The Average Sales Price this month was $221,260 from $212,988 in March, a 3.88% increase.
- Average List Price of $227,974 is up 4.06% from March’s number of $219,086.
- Total Under Contract increased by 3.69%.
- Total Unit Sales declined slightly this month by .47% going from 1,480 in March to 1,473 in April but increasing 6.51% over April 2015.
- The Median Sales Price decreased slightly to $176,000.
- New Listings decreased 8.94% from March.
- Total Active Listings of 4,525 is a decrease of 5.77% since March’s number of 4,802.
- Average Days on Market remained at 57 in April.
- Conventional loan sales of 39.1% exceeded Cash Sales of 26.8%.
These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?
Below are some important charts of data we compiled to give you a visual of how the Tucson housing market is trending for April 2016.
In April 2016, there were 1,473 closes sales for the month as shown in the chart above.
That is an average of about 49 homes SOLD every day in Tucson in the month of April 2016. There are a couple of key factors in getting your home SOLD for the most amount of money in the least amount of time.
Key Factors In Getting Your Home SOLD:
- Uber Awesome Photos
- Home Look Great – 47 Key Factors To Make Your House Look Great!
In April 2016, the average sales price of a home in Tucson, Arizona was $221,260. Which was up 3.88% from March 2016 as shown in the chart above.
In April 2016, the median sales price of a home in Tucson, Arizona was $176,000. Which was down .59% from March 2016 as shown in the chart above.
As of April 2016, the average days a home was on the market was 57 days. Which is the same as the previous month and 9 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of April 2016 was 4,525 listings as shown on the chart above.
This number is one to keep an eye on. If this uptrend in inventory continues to look for the market to soften and prices do move down which sets up for a buyers market. Inventory levels are trending down which leads to a sellers market causing home values to rise.
TUCSON HOME BUYERS
As home inventory levels begin to decrease there is less to chose from. So when you see a home that you like that is properly priced moving quickly is key in getting your offer accepted.
TUCSON HOME SELLERS
As the number of listings decrease sellers are poised to sell their home faster and for more money. Marketing and making your home look great are keys to selling your home FAST and for MORE MONEY.
As a seller, your home is one of three listings:
- The home that sells!
- The home that gets showings but sells the house down the road.
- The home that gets no showings and does not sell.
Which type of listing do you want to be?
Having a skilled real estate team is the key to saving thousands of dollars when buying or selling a home with the least amount of hassles. Put the Tyler Ford Real Estate Team to work for you. We would love to earn your business!
The difference between average and median?
For a complete breakdown of Tucson Home Prices Monthly Statistics for April 2016: CLICK HERE