Highlights of Tucson’s Residential Housing Market for August 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 August 2018.
In August 2018, the Tucson housing market inventory levels continue to remain low putting upward pressure on home values.
Average days on the market…
record low of 38 days!
Check out what home prices are doing in Tucson, AZ August 2018.
Highlights of the Tucson Residential Housing Market Report for August 2018 are below:
- Total Sales Volume of $349,507,394 is up from $347,114,173 in July resulting in a .69% increase.
- The Average Sales Price of $259,663 is an increase of 2.26% from $253,924 last month.
- Average List Price of $264,923 is an increase of 1.78% from $260,279 in July.
- Total Under Contract of 1,859 is an increase of 4.67% since July’s number of 1,776 and an increase of 13.77% over August 2017.
- Total Unit Sales of 1,346 is a decrease of 1.54% since last month’s number of 1,367 and coincidentally exactly the same number as August 2017.
- The Median Sales Price of $216,950 is an increase of .91% from $215,000 in July and up 12.99% from last year’s number of $192,000.
- New Listings of 1,755 is a decrease of 1.63% from 1,784 in July.
- Total Active Listings of 2,944 is a decrease from 2,967 in July and a decrease of 15.89% since last year.
- Average Days on Market decreased to 38 this month from 43 last month.
- Conventional loan sales of 49.3% exceeded Cash Sales of 22.7%.
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 August 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of August 2018 were 1,346 units sold. Which was down by 1.54% from the previous month as shown in the chart above.
In August 2018, the average sales price of a home in Tucson, Arizona was $259,663. Which was an increase of 2.26% from the previous month as shown in the chart above.
In August 2018, the median sales price of a home in Tucson, Arizona was $216,950. Which was an increase of .91% from the previous month as shown in the chart above.
In August 2018, the average days a home was on the market was 38 days. Which was 5 days less than the previous month and 7 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of August 2018 was 2,944 listings, which is a .78% 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 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?
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