Highlights of Tucson’s Residential Housing Market for October 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 October 2018.
In October 2018, the Tucson housing market inventory levels increased slightly. Inventory levels remain low and the Tucson housing market remains stable and strong!
Average days on the market…
41 days!
Check out what home prices are doing in Tucson, AZ October 2018.
Highlights of the Tucson Housing Market Report for October 2018 are below:
- Total Sales Volume of $322,056,857 is up from $287,318,178 in
September resulting in a 12.09% increase. - The Average Sales Price of $251,606 is an increase of 1.14% from
$248,760 last month. - Average List Price of $256,699 is an increase of 1.09% from
$253,924 in September. - Total Under Contract of 1,552 is a decrease of 3.78% since
September’s number of 1,613. - Total Unit Sales of 1,280 is an increase of 10.82% since last month’s
number of 1,155 and an increase of 5.61% since October 2017. - The Median Sales Price of $215,000 increased 2.38% from $210,000
in September and is up 7.55% from last year’s number of $199,900. - New Listings of 1,803 have increased 1.29% from 1,780 in
September. - Total Active Listings of 3,327 is an increase from 3,210 in September.
- Average Days on Market increased from 38 to 41 this month.
- Conventional loan sales of 48.0% exceeded Cash Sales of 24.7%.
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 October 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of October 2018 were 1,280 units sold. Which was up by 10.82% from the previous month as shown in the chart above.
In October 2018, the average sales price of a home in Tucson, Arizona was $251,606. Which was an increase of 1.14% from the previous month as shown in the chart above.
In October 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 October 2018, the average days a home was on the market was 41 days. Which was 3 days more than the previous month and 1 day more than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of October 2018 was 3,327 listings, which is a 3.64% increase from the previous month as shown in the chart above.
This number is one to keep an eye on.
If this upward movement in inventory continues, look for the market to continue to soften and prices to move sideways or which would create a buyer’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 the 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?
FOR A COMPLETE BREAKDOWN: CLICK HERE
