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 September 2016.
The big challenge for buyers is lack of inventory which has caused home prices to increase over the past six months.
Check out what home prices are doing in Tucson, AZ for September 2016.
Highlights of the Tucson Residential Real Estate Market Report for September 2016 are below:
- Total Sales Volume fell this month to 293,536,476 resulting in a 5.90% decrease from August’s number of $311,954,046, but an increase of 18.01% since September 2015.
- The Average Sales Price this month was $220,538 from $220,774 in August, a 0.11% decrease.
- Average List Price of $216,257 is a decrease of 4.49% from August’s number of $226,428.
- Total Under Contract decreased by 5.72%.
- Total Unit Sales came down this month to 1,331, a 5.80% decrease from last month, but is a 10.64% increase from September 2015.
- The Median Sales Price decreased to $177,000, down 4.32% from last month.
- New Listings, 1,955 is an increase of 1.56% from August’s number of 1,925.
- Total Active Listings of 3,996 is an increase of 1.96% since August’s number of 3,919.
- Average Days on Market was 49 from 48 in August.
- Conventional loan sales of 44.7% exceeded Cash Sales of 22.2%.
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 September 2016.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER AND READABLE.
Total real estate sales in Tucson for the month of September 2016 were 1,331 units sold. Which was a decrease of 1% from the previous month as shown in the chart above.
In Sept 2016, the average sales price of a home in Tucson, Arizona was $220,538. Which was a decrease of .82% from the previous month as shown in the chart above.
In Sept 2016, the median sales price of a home in Tucson, Arizona was $177,000. Which was a decrease of 1.93% from the previous month as shown in the chart above.
In Sept 2016, the average days a home was on the market was 49 days. Which was 1 day more than the previous month and 12 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of August 2016 was 3,996 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?
For a complete breakdown of Tucson Home Prices Monthly Statistics for September 2016: CLICK HERE