Highlights of Tucson’s Residential Housing Market for July 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 July 2018.
In July 2018, the Tucson housing market inventory levels continue to remain low putting upward pressure on home values. Marketing starting to slow down as school is back in session which is typical for this time of year.
Sales Slow Down as School is Back in Session. Tucson home inventory levels remain low!
Check out what home prices are doing in Tucson, AZ July 2018.
Highlights of the Tucson Residential Housing Market Report for July 2018 are below:
- Total Sales Volume of $347,114,173 is down 15.91% from June’s number of $412,805,427 but is up 16.84% from last year.
- The Average Sales Price of $253,924 is a decrease of .2.01% from $259,137 in June.
- Average List Price of $260,279 is a decrease of 1.53% from last month’s number of $264,328.
- Total Under Contract of 1,776 is a decrease of 4.31% since June’s number of 1,856.
- Total Unit Sales of 1,367 is a decrease of 14.19% since last month’s number of 1,593 but up 6.13% since July 2017.
- The Median Sales Price of $215,000 is an increase of 1.42% from $212,000 in June and up 10.26% from last year’s number of $195,000.
- New Listings of 1,784 are a decrease of 5.46% from 1,887 in June.
- Total Active Listings of 2,967 are a slight decrease from 2,974 in June.
- Average Days on Market increased to 43 this month from 39 last month.
- Conventional loan sales of 46.2% exceeded Cash Sales of 21.7%.
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 July 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of July 2018 were 1,367 units sold. Which was down by 14.19% from the previous month as shown in the chart above.
In July 2018, the average sales price of a home in Tucson, Arizona was $253,924. Which was a decrease of 2.01% from the previous month as shown in the chart above.
In July 2018, the median sales price of a home in Tucson, Arizona was $215,000. Which was an increase of 1.42% from the previous month as shown in the chart above.
In July 2018, the average days a home was on the market was 43 days. Which was 4 days more than the previous month and 4 days more than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of July 2018 was 2,967 listings, which is a .24% 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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