For highlights of Tucson’s residential real estate market for March 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 real estate market report for March 2017.
In March 2017, the Tucson housing market showed signs of strength as the Tucson residential real estate market is a seller’s market as inventory levels remain low.
Check out what home prices are doing in Tucson, AZ March 2017.
Highlights of the Tucson Residential Real Estate Market Report for March 2017 are below:
- Total Sales Volume of $363,976,060 is up 32.47% from last month and 15.47% from March 2016.
- The Average Sales Price of $224,815 is a slight decrease from last month’s number of $225,032 which results in a 0.10% decline.
- Average List Price of $230,186 is a decrease of 0.29% from February’s number of $230,859.
- Total Under Contract increased this month by 10.44%.
- Total Unit Sales of 1,619 is an increase of 32.60% from last month’s 1,221.
- The Median Sales Price of $193,000 is up again this month from $189,000 in February and up 9.01% from this time last year.
- New Listings decreased 0.13%.
- Total Active Listings of 3,721 decreased 1.17% from February and 22.51% from March 2016.
- Average Days on Market decreased to 47 from 52 last month and has decreased 17.54% from March 2016.
- Conventional loan sales of 40.3% exceeded Cash Sales of 29.2%.
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 March 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of March 2017 were 1,619 units sold. Which was a increase of 32.6% from the previous month as shown in the chart above.
In March 2017, the average sales price of a home in Tucson, Arizona was $224,815. Which was a decrease of .10% from the previous month as shown in the chart above.
In March 2017, the median sales price of a home in Tucson, Arizona was $193,000. Which was an increase of 2.12% from the previous month as shown in the chart above.
In March 2017, the average days a home was on the market was 47 days. Which was 5 day less than the previous month and 10 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of March 2017 was 3,721 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?