TUCSON REAL ESTATE HOUSING REPORT MAY 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 real estate housing report May 2015.
Real estate in Tucson, AZ is on a positive upswing.
Highlights of the Tucson Real Estate Housing Market Report for May 2015 are below:
- Total Sales Volume continued to increase this month by 3.11%, going from $291,466,552 in April to $300,526,884 in May. This is also a 20.92% increase since May 2014.
- The Average Sales Price increased by 2.74% this month to $216,517 from $210,749 in April.
- Average List Price of $223,168 is an increase of 2.49%, since last month.
- Total Under Contract decreased by 3.60% from April.
- Total Unit Sales of 1,388 is up slightly from April’s number of 1,383, resulting in a .36% increase.
- The Median Sales Price rose slightly this month to $171,250 from $167,500 in April, a 2.24% increase.
- New Listings decreased 2.45% from April.
- Total Active Listings of 5,250 is a 4.32% decrease from April’s number of 5,487.
- Average Days on Market decreased to 62 in May from 66 in April.
- Conventional loan sales of 36.5 exceeded Cash Sales of 25.6% this month.
These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?
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Tucson Home Values Are Up Up Up
Curious about your home’s value? CLICK HERE
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Below are some important charts of data we compiled to give you a visual of how the Tucson housing market is trending for May 2015.
In May 2015, there were 1,388 closes sales for the month. These are normal numbers for this time of year.
In May 2015, the average sales price of a home in Tucson, Arizona was $216,517. Which is up 2.24% from April 2015.
In May 2015, the median sales price of a home in Tucson, Arizona was $171,250. Which was up 2.24% from April 2015.
As of May 2015, the average days a home was on the market was 62 days. Which is 4 day less than the previous month and 2 days less than the previous year.
The number of active listings in Tucson, Arizona in the month of May 2015 was 5,250 listings.
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 seller’s 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 quickly 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 break down of the Monthly Statistics for November: CLICK HERE
