Highlights of Tucson’s Residential Housing Market for December 2018:
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Photo Credit: Dawn Hansen
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 December 2018.
In December 2018, the Tucson housing market inventory levels decreased slightly. Inventory levels remain low and the Tucson housing market remains stable and strong! Although the housing market is slowed slightly during the holidays the housing market in Tucson for 2019 is predicted to remain strong.
Average days on the market…
40 days!
Check out what home prices are doing in Tucson, AZ December 2018.
Highlights of the Tucson Housing Market Report for December 2018 are below:
- Total Sales Volume of $271,585,079 is down from $294,286,393 in November resulting in an 7.62% decrease.
- The Average Sales Price of $251,255 is a decrease of 2.84% from $258,599 last month.
- Average List Price of $256,519 is a decrease of 3.09% from $264,688 in November.
- Total Under Contract of 1,203 is a decrease of 17.83% since November’s number of 1,464.
- Total Unit Sales of 1,082 is a decrease of 4.92% since last month’s number of 1,138.
- The Median Sales Price of $205,000 decreased 6.39% from $219,000 in November and is exactly the same number as December 2017.
- New Listings of 1,285 have decreased 19.44% from 1,595 in November.
- Total Active Listings of 3,212 are a decrease from 3,332 in November.
- Average Days on Market increased from 38 to 40 this month.
- Conventional loan sales of 47.2% exceeded Cash Sales of 23.1%.
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 December 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of December 2018 were 1,082 units sold. Which was down by 4.92% from the previous month as shown in the chart above.
In December 2018, the average sales price of a home in Tucson, Arizona was $251,255. Which was a decrease of 2.84% from the previous month as shown in the chart above.
In December 2018, the median sales price of a home in Tucson, Arizona was $205,000. Which was a decrease of 6.39% from the previous month as shown in the chart above.
In December 2018, the average days a home was on the market was 40 days. Which was 2 days more than the previous month and 6 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of December 2018 was 3,212 listings, which is a 3.60% decrease from the previous month as shown in the chart above.
This number is one 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’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
