TUCSON ARIZONA HOUSING MARKET FEB 2017 SNAPSHOT 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 February 2017.
In February 2017, the Tucson housing market showed signs of strength to start the year.
Check out what home prices are doing in Tucson, AZ February 2017.
Highlights of the Tucson Residential Real Estate Market Report for February 2017 are below:
- Total Sales Volume of $274,764,443 is up 15.77% from January’s number of $237,338,796 and up 26.35% from February 2016.
- The Average Sales Price of $225,032 is an increase of 3.63% from last month.
- Average List Price of $230,859 is an increase of 3.92% from last month’s number of $222,156.
- Total Under Contract increased this month by 8.63%.
- Total Unit Sales of 1,221 is up from January’s number of 1,093 resulting in an 11.71% increase from month to month, and an increase of 15.73% since February 2016.
- The Median Sales Price rose 2.72% this month going from $184,000 in January to $189,000.
- New Listings decreased 0.66%.
- Total Active Listings of 3,765 decreased from 3,777 last month and have decreased 25.86% from February last year.
- Average Days on Market for February is 52, up from 50 in January.
- Conventional loan sales of 46.4% exceeded Cash Sales of 27.7%.
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 February 2017.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER AND READABLE.
Total real estate sales in Tucson for the month of February 2017 were 1,221 units sold. Which was a increase of 11.71% from the previous month as shown in the chart above.
In February 2017, the average sales price of a home in Tucson, Arizona was $225,032. Which was an increase of 3.63% from the previous month as shown in the chart above.
In February 2017, the median sales price of a home in Tucson, Arizona was $189,000. Which was an increase of 2.72% from the previous month as shown in the chart above.
In February 2017, the average days a home was on the market was 52 days. Which was 2 day more than the previous month and 13 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of February 2017 was 3,765 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?