TUCSON RESIDENTIAL REAL ESTATE MARKET REPORT NOVEMBER 2015
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 November 2015.
Residential real estate in Tucson, AZ has been on a steady upswing in 2015.
Highlights of the Tucson Residential Real Estate Market Report for November 2015 are below:
- Total Sales Volume decreased this month to $190,421,972, a 24.24% drop from last month’s number of $251,340,493.
- The Average Sales Price decreased to $209,485 from $211,566 in October, resulting in a .98% decrease.
- Average List Price for November is $213,121, a decrease of 2.28% since last month.
- Total Under Contract decreased by .44% from October.
- Total Unit Sales fell to 909, a decrease from October’s number of 1,188, a 23.48% drop, and is a decrease of .87% from November 2014.
- The Median Sales Price dipped slightly to $169,000 from $172,825 in October, a 2.21% decrease.
- New Listings decreased 14.01% from October.
- Total Active Listings of 5,096 is an increase of 1.05% since October’s number of 5,043.
- Average Days on Market decreased to 60 in November from 63 in October.
- Conventional loan sales of 34.7% exceed Cash Sales of 32.2% this month.
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 2015.
In November 2015, there were 909 closes sales for the month as shown in the chart above. These are normal numbers for this time of year.
That is an average of about 30 homes SOLD every day in Tucson in the month of October 2016. There are a couple of key factors in getting your home SOLD for the most amount of money in the least amount of time.
Key Factors In Getting Your Home SOLD:
- Price
- Uber Awesome Photos
- Home Look Great – 47 Key Factors To Make Your House Look Great!
In November 2015, the average sales price of a home in Tucson, Arizona was $209,485. Which was down 0.98% from October 2015 as shown in the chart above.
In November 2015, the median sales price of a home in Tucson, Arizona was $169,000. Which was down 2.21% from October 2015 as shown in the chart above.
As of November 2015, the average days a home was on the market was 60 days. Which is 3 days less than the previous month and 2 days more than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of November 2015 was 5,096 listings as shown on the chart above.
This number is one to keep an eye on. If this uptrend in inventory continues to look for the market to soften and prices do move down which sets up for a buyers market. Inventory levels are trending down which leads to a sellers market causing home values to rise.
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 quick is key in getting your offer accepted.
SELLERS
As the number of listings decreases 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?
SOLUTION
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!
LINKS
The difference between average and median?
For a complete breakdown of the Monthly Statistics for November: CLICK HERE
