For highlights of Tucson’s residential housing market for MAY 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 May 2017.
In May 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 May 2017.
Highlights of the Tucson Residential Housing Market Report for May 2017 are below:
- Total Sales Volume of $386,081,637 is an increase of 14.68% over April’s number of $336,667,709 and an increase of 17.83% over May 2016.
- The Average Sales Price of $240,249 increased by 3.12% from last month’s number of $232,988.
- Average List Price increased 2.63%, going from $239,287 in April to $245,591 in May.
- Total Under Contract decreased this month by 0.71%.
- Total Unit Sales are up 11.21% from April and 5.10% from May 2016.
- The Median Sales Price increased to $195,000 from $190,000 last month and increased 8.94% from last year.
- New Listings decreased 5.66%.
- Total Active Listings of 3,589 is a decrease of 4.88% from last month and a decrease of 18.58% from last year.
- Average Days on Market increased to 46 from 44 last month.
- Conventional loan sales of 41.2% exceeded Cash Sales of 24.5%.
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 May 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of May 2017 were 1,607 units sold. Which was an increase of 11.21% from the previous month as shown in the chart above.
In May 2017, the average sales price of a home in Tucson, Arizona was $240,249. Which was an increase of 3.12% from the previous month as shown in the chart above.
In May 2017, the median sales price of a home in Tucson, Arizona was $195,000. Which was an increase of 2.63% from the previous month as shown in the chart above.
In May 2017, the average days a home was on the market was 46 days. Which was 2 day more than the previous month and 9 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of May 2017 was 3,589 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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