Highlights of Tucson’s Residential Housing Market for January 2018:
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In January 2018, the Tucson housing market showed signs of a strength heading into 2018. Inventory levels continue to remain low and homes under contract increased.
Check out what home prices are doing in Tucson, AZ January 2018.
Highlights of the Tucson Residential Housing Market Report for January 2018 are below:
- Total Sales Volume of $227,851,861 is a decrease of 17.72% since December’s number of $276,914,274 but an increase of 2.99% over January 2017.
- The Average Sales Price of $243,431 is a decrease of 1.89% since December’s $248,131.
- Average List Price of $249,970 is down from $255,058 in December, a 1.99% decrease.
- Total Under Contract increased to 1,823 from last month’s 1,290.
- Total Unit Sales of 936 fell from December’s number of 1,116, resulting in a 16.13% decrease.
- The Median Sales Price, $200,000, is down from $205,000 in December resulting in a 2.44% decrease but an 8.11% increase over January 2017.
- New Listings increased this month to 2,019 from 1,272 in December, a 58.73% jump.
- Total Active Listings of 3,375 is a decrease of 2.26% from last month.
- Average Days on Market of 49 is an increase from December’s number of 46.
- Conventional loan sales of 44.6% exceeded Cash Sales of 26.3%.
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 January 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
In January 2018, the average sales price of a home in Tucson, Arizona was $243,431. Which was a decrease of 1.93% from the previous month as shown in the chart above.
In January 2018, the median sales price of a home in Tucson, Arizona was $200,000. Which was a decrease of 2.5% from the previous month as shown in the chart above.
In January 2018, the average days a home was on the market was 49 days. Which was 3 days more than 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 January 2018 was 3,375 listings, which is a 2.31% 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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