May 2019 Saw Best Numbers in Over 10 Years
Highlights of Tucson’s Residential Housing Market for May 2019:
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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 May 2019.
In May 2019, the Tucson housing market inventory levels decreased slightly. Inventory levels remain low and the Tucson housing market remains stable and strong! As home inventory levels remain low home, look for home prices to continue to rise. The housing market in Tucson for 2019 is predicted to remain strong.
Average days on the market…
37 days!
Check out what home prices are doing in Tucson, AZ for May 2019.
Tucson Market Report Highlights:
- Total Sales Volume of $463,248,158 is up from $400,498,076 in April, a 15.67% increase and up 12.06% from May 2018.
- The Average Sales Price of $277,228 is an increase of 6.39% from $260,571 last month.
- Average List Price of $282,609 is an increase of 6.23% from $266,033 in April.
- Total Under Contract of 2,134 decreased .28% since April’s number of 2,140.
- Total Unit Sales of 1,671 is an increase of 8.72% since last month’s number of 1,537.
- The Median Sales Price of $232,000 increased 6.18% from $218,500 in April and up 7.16% since May 2018.
- New Listings of 1,795 have decreased 13.12% from 2,066 in April and 9.39% since May 2018.
- Total Active Listings of 2,705 is a decrease of 6.72% from April.
- Average Days on Market decreased to 37 this month from 41 last month.
- Conventional loan sales of 49% exceeded Cash Sales of 20.9%.
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 May 2019.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Closed Home Sales
Total real estate sales in Tucson for the month of May 2019 were 1,671 units sold. Which was up by 8.72% from the previous month as shown in the chart above.
Average Homes Sales Price
In May 2019, the average sales price of a home in Tucson, Arizona was $277,228. Which was an increase of 6.39% from the previous month as shown in the chart above.
Median Home Sales Price
In May 2019, the median sales price of a home in Tucson, Arizona was $232,000. Which was a decrease of 6.18% from the previous month as shown in the chart above.
Average Days On Market
In May 2019, the average days a home was on the market was 37 days. Which was 4 days less than the previous month and 4 days less than the previous year as shown in the chart above.
Active Home Listings
The number of active listings in Tucson, Arizona in the month of May 2019 was 2,705 listings, which is a .933% decrease from the previous month as shown in the chart above.
Active listings and home inventory numbers is 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 homeownership today.
LINKS
The difference between average and median?
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Tucson Previous Housing Market Reports
