Single Family Home Sellers Getting 101.9% Of Their List Price in June 2021
School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year-over-year increase since 1999, according to the National Association of REALTORS®. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.
New Listings increased 14.9 percent for Single Family and 21.7 percent for Townhouse/Condo. Pending Sales decreased 5.7 percent for Single Family but increased 6.9 percent for Townhouse/Condo. Inventory decreased 42.2 percent for Single Family and 51.8 percent for Townhouse/Condo.
Median Sales Price increased 31.5 percent to $342,000 for Single Family and 29.6 percent to $230,000 for Townhouse/Condo. Days on Market decreased 67.6 percent for Single Family and 69.0 percent for
Townhouse/Condo. Months Supply of Inventory decreased 46.2 percent for Single Family and 64.3 percent for Townhouse/Condo.
The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May
from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes.
Average days on market for single family homes... 12 Days!
Check out what home prices are doing in Tucson, AZ for June 2021.
Tucson Market Report Highlights For June 2021:
- New Listings increased 14.9 percent for Single Family and 21.7 percent for Townhouse/Condo.
- Pending Sales decreased 5.7 percent for Single Family but increased 6.9 percent for Townhouse/Condo.
- Inventory decreased 42.2 percent for Single Family and 51.8 percent for Townhouse/Condo.
- Median Sales Price increased 31.5 percent to $342,000 for Single Family and 29.6 percent to $230,000 for Townhouse/Condo.
- Days on Market decreased 67.6 percent for Single Family and 69.0 percent for Townhouse/Condo.
- Months Supply of Inventory decreased 46.2 percent for Single Family and 64.3 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 June 2021.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Closed Home Sales
Total real estate sales in Tucson for the month of June 2021 was 1,363 single-family homes sold and 246 townhouse/condos sold.
Which was +2.5% year-over-year change for single-family homes and +26.2% year-over-year change for townhouse/condos from the previous year as shown in the chart above.
Average Home Sales Price
In June 2021, the average sales price in Tucson of a single-family home in was $426,338 and $245,425 for a Townhouse/Condo.
Which was a +37.0% year-over-year change for single-family homes and a +23.8% year-over-year change for townhouse/condo from the previous year shown in the chart above.
Median Home Sales Price
In June 2021, the median sales price in Tucson of a single-family home was $342,000 and $230,000 for a townhouse/condo.
Which was a +31.5% year-over-year change for single-family homes and a +29.6% year-over-year change for townhouse/condo as shown in the chart above.
Average Days On Market
In June 2021, the average days it took a single-family home to sell was 12 days and 9 days for a townhouse/condo as shown in the chart above.
This was a year-over-year change of -67.6% for a single-family home and -69.0% for a townhouse/condo.
Active Home Listings
In June 2021, the number of active listings in Tucson, Arizona for single-family homes was 901and 118 for townhouse/condo.
This was a -42.2% year-over-year change for single-family homes and a -51.8% 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.
Use us to buy or sell a home in Tucson, AZ… Use our Moving Truck for FREE!
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