Highlights of Tucson’s Residential Housing Market for April 2018:
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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 housing market report for April 2018.
In April 2018, the Tucson housing market showed signs of a strength heading into summer. Inventory levels continue to remain low putting upward pressure on home values and lowering the average days a home is on the market. Home prices continue to rise!!!
Check out what home prices are doing in Tucson, AZ April 2018.
Highlights of the Tucson Residential Housing Market Report for April 2018 are below:
- Total Sales Volume of $375,510,677 is an increase of 4.19% from March’s number of $360,404,000 and an increase of 18.58% over April 2017.
- The Average Sales Price of $258,616 is an increase of 4.91% from $246,514 in March.
- Average List Price of $264,467 is an increase of 4.55% from last month’s number of $252,954.
- Total Under Contract increased to 2,167 from 2,157 in March.
- Total Unit Sales declined this month to 1,452 from 1,462 last month resulting in a 0.68% decrease, but increased 9.01% over April 2017.
- The Median Sales Price of $215,000 is an increase of 2.38% since March.
- New Listings rose from 1,962 in March to 2,006 in April, a 2.24% increase.
- Total Active Listings of 3,097 is a decrease of 2.79% from March, and a 10.13% decrease from April 2017.
- Average Days on Market held at 43 this month, exactly the same as they were in March.
- Conventional loan sales of 45.5% exceeded Cash Sales of 25.9%.
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 April 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of April 2018 were 1,452 units sold. Which was down by only 10 units or .68% from the previous month as shown in the chart above.
In April 2018, the average sales price of a home in Tucson, Arizona was $258,616. Which was an increase of 4.91% from the previous month as shown in the chart above.
In April 2018, the median sales price of a home in Tucson, Arizona was $215,000. Which was an increase of 2.38% from the previous month as shown in the chart above.
In April 2018, the average days a home was on the market was 43 days. Which was the same from the previous month and 1 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of April 2018 was 3,097 listings, which is a 2.79% decrease from the previous month as shown in the chart above.
This number is one to keep an eye on.
If this downward trend in inventory continues, look for the market to continue to strengthen and prices to move up which has created a seller’s market in Tucson, Arizona.
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 to getting your offer accepted.
TUCSON HOME 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 powered by eXp Realty in Tucson to work for you. We would love to earn your business!
LINKS
The difference between average and median?
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