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 June 2016.
Check out what home prices are doing in Tucson, AZ for June 2016.
Highlights of the Tucson Residential Real Estate Market Report for June 2016 are below:
- Total Sales Volume increased to $384,524,826 this month, a significant increase of 17.36 % from May’s number of $327,650,182, and an 18.36% increase since June 2015.
- The Average Sales Price increased 9.55% to $234,752 from $214,290 in May.
- Average List Price of $240,584 is an increase of 10.41% from May’s number of $217,902.
- Total Under Contract decreased by 4.59%.
- Total Unit Sales of 1,638 is an increase of 7.13% since May’s number of 1,529. Sales have increased 10.60% since June 2015.
- The Median Sales Price jumped to $190,000 in June from $179,000 last month, a 6.15% increase.
- New Listings decreased 5.52% from May.
- Total Active Listings of 4,175 is a decrease of 5.29% since May’s number of 4,408.
- Average Days on Market of 57 is a slight increase from 55 in May.
- Conventional loan sales of 41.2% exceeded Cash Sales of 23.1%.
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 June 2016.
This number is one to keep an eye on. If this up trend in inventory continues 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 June 2016: CLICK HERE