Highlights of Tucson’s Residential Housing Market for November 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 November 2017.
In November 2017, the Tucson housing market showed signs some signs of slow down as we head into the holiday season. Although inventory levels remain low and average days on market decreased.
Check out what home prices are doing in Tucson, AZ November 2017.
Highlights of the Tucson Residential Housing Market Report for November 2017 are below:
- Total Sales Volume of $279,460,100 is a decrease of 3.26% from October’s number of $288,890,599 but an increase of 9.31% since
November 2016. - The Average Sales Price is up this month going from $238,358 in
October to $246,437, a 3.39% increase. - Average List Price of $252,533 increased 3.58% from October.
- Total Under Contract of 1,531 is a decrease of 7.38% since last
month. - Total Unit Sales of 1,134 is a 6.44% decrease from October’s 1,212.
- The Median Sales Price rose this month to $207,527 from $199,900
in October resulting in a 3.82% increase and a 12.24% increase over
November 2016. - New Listings decreased significantly this month going from 1,896 in
October to 1,494 in November resulting in a 21.20% change. - Total Active Listings of 3,611 is a decrease of 2.11% from last month. • Average Days on Market increased from 40 to 44 this month. • Conventional loan sales of 44.2% exceeded Cash Sales of 24.6%.
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 November 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of November 2017 were 1,134 units sold. Which was down 6.44% from the previous month as shown in the chart above.
In November 2017, the average sales price of a home in Tucson, Arizona was $246,437. Which was an increase of 3.39% from the previous month as shown in the chart above.
In November 2017, the median sales price of a home in Tucson, Arizona was $207,527. Which was an increase of 3.82% from the previous month as shown in the chart above.
In November 2017, the average days a home was on the market was 44 days. Which was 4 days more than the previous month and 3 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of November 2017 was 3,611 listings, which is a 2.11% decrease from the previous month as shown in the chart above.
This number is one to keep an eye on.
If this downward 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 to getting your offer accepted.
TUCSON HOME SELLERS
As the number of listings decreases 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?
SOLUTION
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!
LINKS
The difference between average and median?
FOR A COMPLETE BREAKDOWN: CLICK HERE
