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 December 2016.
In December 2016, the Tucson housing market showed signs of strength. Normally as we head into the holiday season the housing market starts to slow down. This was not the case for December 2016.
WATCH THE VIDEO BELOW PUT OUT BY TUCSON ASSOCIATION OF REALTORS: KEY STATS FOR DECEMBER 2016.
Check out what home prices are doing in Tucson, AZ for December 2016.
Highlights of the Tucson Residential Real Estate Market Report for December 2016 are below:
- Total Sales Volume of $289,379,391 is an increase of 5.12% from last month’s number of $275,287,830 and an increase of 9.61% over December 2015.
- The Average Sales Price increased 8.28% to $235,459 from $217,446 in November.
- Average List Price of $233,223 is an increase of 4.53% from November’s number of $223,119.
- Total Under Contract decreased by 11.12% this month.
- Total Unit Sales of 1,229 decreased this month by 2.92% from 1,266 in November and decreased 1.44% from December 2015.
- The Median Sales Price of $179,000 is down from November’s number of $184,900 resulting in a 3.19% decrease.
- New Listings of 1,261 are a decrease of 26.98% from 1,727 in November and a 21.87% decrease since December 2015.
- Total Active Listings of 3,752 decreased from 4,067 in November and have decreased 23.24% from December 2015.
- Average Days on Market for December is 49.
- Conventional loan sales of 46.9% 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 November 2016.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER AND READABLE.
Total real estate sales in Tucson for the month of December 2016 were 1,266 units sold. Which was a decrease of 3.01% from the previous month as shown in the chart above.
In December 2016, the average sales price of a home in Tucson, Arizona was $235,459. Which was an increase of 7.65% from the previous month as shown in the chart above.
In December 2016, the median sales price of a home in Tucson, Arizona was $184,900. Which was a decrease of 3.30% from the previous month as shown in the chart above.
In December 2016, the average days a home was on the market was 49 days. Which was 2 days more 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 December 2016 was 3,752 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 strengthen and prices to move up which sets up for a sellers market.
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?