Highlights of Tucson’s Residential Housing Market for February 2018:
*** Watch the video below ***
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 February 2018.
In February 2018, the Tucson housing market showed signs of a strength heading into 2018. Inventory levels continue to remain low, homes under contract increased while prices continued to rise.
Check out what home prices are doing in Tucson, AZ February 2018.
Highlights of the Tucson Residential Housing Market Report for February 2018 are below:
- Total Sales Volume of $270,019,575 is up from last month’s number of $227,851,861 a 18.51% increase.
- The Average Sales Price of $249,095 is an increase of 2.33% from $243,431 in January.
- Average List Price increased to $255,269 from $249,970 last month, a 2.12% change.
- Total Under Contract increased from 1,823 in January to 1,998 this month.
- Total Unit Sales of 1,084 are up 15.81% from January’s 936 but are down 2.61% from February 2017.
- The Median Sales Price of $207,000 rose from $200,000 last month, a 3.50% increase and is up 6.70% from this time last year when it was $194,000.
- New Listings decreased to 1,776 from 2,019 last year, a 12.04% drop.
- Total Active Listings of 3,293 is down 2.43% from 3,375 in January.
- Average Days on Market held at 49, exactly what it was last month.
- Conventional loan sales of 42.7% exceeded Cash Sales of 27.8%.
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 February 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of February 2018 were 1,084 units sold. Which was up 15.81% from the previous month as shown in the chart above.
In February 2018, the average sales price of a home in Tucson, Arizona was $249,095. Which was an increase of 2.33% from the previous month as shown in the chart above.
In February 2018, the median sales price of a home in Tucson, Arizona was $207,000. Which was an increase of 3.5% from the previous month as shown in the chart above.
In February 2018, the average days a home was on the market was 49 days. Which was the same days as 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 February 2018 was 3,293 listings, which is a 2.43% 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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