Highlights of Tucson’s Residential Housing Market for October 2017:
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 October 2017.
In October 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 October 2017.
Highlights of the Tucson Residential Housing Market Report for October 2017 are below:
- Total Sales Volume of $288,890,599 is a decrease of 3.75% since
last month’s number of $300,150,958 but is an increase of 12.5%
since October 2016.
- The Average Sales Price of $238,358 is a decrease of 3.75% from
$247,649 last month.
- Average List Price of $243,801 is down 3.60% from September.
- Total Under Contract of 1,653 is an increase of .12% since last
- Total Unit Sales of 1,212 matched last month’s number of 1,212, but
is an increase of 3.95% since October 2016.
- The Median Sales Price decreased by 3.39% to $199,900 from
$206,915 in September, but is an increase of 12.30% since October
- New Listings are up 2.71% since September.
- Total Active Listings of increased 2.84% to 3,689 from 3,587 last
- Average Days on Market continues to slowly decrease, going from 42
in September to 40 this month.
- Conventional loan sales of 43.7% exceeded Cash Sales of 23.7%.
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 October 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of October 2017 were 1,212 units sold. Which was the same 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?
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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