Single Family Home Sellers Getting 101.4% Of Their List Price in April 2021
April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above the asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
New Listings increased 26.0 percent for Single Family and 55.9 percent for Townhouse/Condo. Pending Sales increased 35.6 percent for Single Family and 107.7 percent for Townhouse/Condo. Inventory decreased 64.1 percent for Single Family and 61.2 percent for Townhouse/Condo.
Median Sales Price increased 28.2 percent to $325,000 for Single Family and 20.3 percent to $204,500 for Townhouse/Condo. Days on Market decreased 51.6 percent for Single Family and 45.5 percent for Townhouse/Condo. Months Supply of Inventory decreased 68.4 percent for Single Family and 66.7 percent for Townhouse/Condo.
In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
Average days on market for single family homes... 15 Days!
Check out what home prices are doing in Tucson, AZ for April 2021.
Tucson Market Report Highlights For April 2021:
- New Listings increased 26.0 percent for Single Family and 55.9 percent for Townhouse/Condo.
- Pending Sales increased 35.6 percent for Single Family and 107.7 percent for Townhouse/Condo.
- Inventory decreased 64.1 percent for Single Family and 61.2 percent for Townhouse/Condo.
- Median Sales Price increased 28.2 percent to $325,000 for Single Family and 20.3 percent to $204,500 for Townhouse/Condo.
- Days on Market decreased 51.6 percent for Single Family and 45.5 percent for Townhouse/Condo.
- Months Supply of Inventory decreased 68.4 percent for Single Family and 66.7 percent for Townhouse/Condo.
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 to give you a visual of how the Tucson housing market is trending for April 2021.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Closed Home Sales
Total real estate sales in Tucson for the month of April 2021 was 1,287 single-family homes sold and 226 townhouse/condos sold.
Which was +20.7 % year-over-year change for single-family homes and +41.3% year-over-year change for townhouse/condos from the previous year as shown in the chart above.
Average Home Sales Price
In April 2021, the average sales price in Tucson of a single-family home in was $405,680 and $220,152 for a Townhouse/Condo.
Which was a +33.8% year-over-year change for single-family homes and a +11.7% year-over-year change for townhouse/condo from the previous year shown in the chart above.
Median Home Sales Price
In April 2021, the median sales price in Tucson of a single-family home was $325,000 and $204,500 for a townhouse/condo.
Which was a +28.2% year-over-year change for single-family homes and a +20.3% year-over-year change for townhouse/condo as shown in the chart above.
Average Days On Market
In April 2021, the average days it took a single-family home to sell was 15 days and 12 days for a townhouse/condo as shown in the chart above.
This was a year-over-year change of -51.6% for a single-family home and -45.5% for a townhouse/condo.
Active Home Listings
In April 2021, the number of active listings in Tucson, Arizona for single-family homes was 794 and 120 for townhouse/condo.
This was a -64.10% year-over-year change for single-family homes and a -61.20% change year-over-year change for townhouse/condos as shown in the chart above.
Active listings and home inventory numbers are a key indicator to keep an eye on.
If this downward or even slight increase in inventory continues, look for the Tucson housing market to continue to be strong and home prices to move up creating a sellers’ market in Tucson, Arizona.
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.
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:
- A home that sells!
- One that gets showings but sells the house down the road.
- Or 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!
Will well sell your home in 90 Days Guaranteed or it’s FREE!
There are tons of good reasons now is a good time to buy a home in Tucson, AZ. Give us a call about home ownership today.
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