Highlights of Tucson’s Residential Housing Market for July 2017:
*** watch the video below ***
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 housing market report for July 2017.
In July 2017, the Tucson housing market took its normal summer slow down and pulled back slighly from the highs of late spring. Tucson remains a sellers market due to low inventory levels.
Check out what home prices are doing in Tucson, AZ July 2017.
Highlights of the Tucson Residential Housing Market Report for July 2017 are below:
- Total Sales Volume of $318,919,230 is a decrease of 20.08%
from June’s number of $399,061,482, but is an increase of
4.40% over July 2016.
- The Average Sales Price of $226,827 is a 4.79% decrease
from $238,245 last month.
- Average List Price fell from $243,575 in June to $231,299 in
July, resulting in a 5.04% decline.
- Total Under Contract decreased this month by 10.90%.
- Total Unit Sales of 1,406 is a decrease from June’s number of
1,675, a 16.06% drop.
- The Median Sales Price decreased 4.14% since last month,
going from $200,000 in June to $191,725 in July, but is a
5.63% increase from July 2016.
- New Listings of 1,827 decreased from 2,048 last month.
- Total Active Listings of 3,602 is a decrease from 3,525 last
- Average Days on Market dropped from 44 last month to 39 this
month and is the lowest it has been in over 10 years.
- Conventional loan sales of 40.6% exceeded Cash Sales of 24%.
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 July 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of July 2017 were 1,406 units sold. Which was a decrease of 16.06% from the previous month as shown in the chart above.
In July 2017, the average sales price of a home in Tucson, Arizona was $226.827. Which was a decrease of 4.49% from the previous month as shown in the chart above.
In July 2017, the median sales price of a home in Tucson, Arizona was $191,725. Which was a decrease of 5.86% from the previous month as shown in the chart above.
In July 2017, the average days a home was on the market was 39 days. Which was 5 days less than the previous month and 11 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of July 2017 was 3,602 listings as shown on the chart above.
This number is one to keep an eye on.
If this down trend in inventory continues look for the market to continue to strengthen and prices to move up which has created a seller’s market in Tucson, Arizona.
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?
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