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 November 2016.
In November 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 November 2016.
Check out what home prices are doing in Tucson, AZ for November 2016.
Highlights of the Tucson Residential Real Estate Market Report for September 2016 are below:
- Total Sales Volume of $275,287,830 is slightly up this month from $273,080,211 in October resulting in a .81% and a 44.57% increase since November 2015.
- The Average Sales Price increased .25% to $217,446 from $216,902 in October.
- Average List Price of $223,119 is an increase of .18% from October’s number of $222,728.
- Total Under Contract decreased by 7.65% this month.
- Total Unit Sales of 1,266 is an increase of .56% over October’s number of 1,259 and an increase of 39.27% over November 2015.
- The Median Sales Price of $184,900, from $178,000 in October resulted in a 3.88% increase.
- New Listings, 1,727 are down from 2,061 in October, a 16.21% decrease.
- Total Active Listings of 4,067 decreased from 4,103 in October and have decreased 20.19% from November 2015.
- Average Days on Market dropped to 47 from 49 last month.
- Conventional loan sales of 47.6% exceeded Cash Sales of 23.1%.
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 November 2016 were 1,266 units sold. Which was an increase of .56% from the previous month as shown in the chart above.
In November 2016, the average sales price of a home in Tucson, Arizona was $217,446. Which was an increase of .25% from the previous month as shown in the chart above.
In November 2016, the median sales price of a home in Tucson, Arizona was $184,900. Which was a increase of 3.88% from the previous month as shown in the chart above.
In November 2016, the average days a home was on the market was 47 days. Which was 2 days less 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 November 2016 was 4,067 listings as shown on the chart above.
This number is one to keep an eye on.
If this downtrend in inventory continues to 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?
For a complete breakdown of Tucson Home Prices Monthly Statistics for November 2016: CLICK HERE