Highlights of Tucson’s Residential Housing Market for November 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 November 2018.
In November 2018, the Tucson housing market inventory levels increased slightly. Inventory levels remain low and the Tucson housing market remains stable and strong! Although the housing market is slowing, as we head into the holiday which is typical for this time of year.
Average days on the market…
38 days!
Check out what home prices are doing in Tucson, AZ November 2018.
Highlights of the Tucson Housing Market Report for November 2018 are below:
- Total Sales Volume of $294,286,393 is down from $322,056,857 in
October resulting in an 8.62% decrease but is up 5.31% from November 2017. - The Average Sales Price of $258,599 is an increase of 2.78% from $251,606 last month.
- Average List Price of $264,688 is an increase of 3.11% from $256,699 in October.
- Total Under Contract of 1,464 is a decrease of 5.67% since October’s number of 1,552.
- Total Unit Sales of 1,138 is a decrease of 11.09% since last month’s number of 1,280.
- The Median Sales Price of $219,000 increased by 1.86% from $215,000 in October and is up 5.53% from last year’s number of $207,527.
- New Listings of 1,595 have decreased 11.54% from 1,803 in October.
- Total Active Listings of 3,332 is an increase from 3,327 in October.
- Average Days on Market decreased from 41 to 38 this month.
- Conventional loan sales of 48.6% exceeded Cash Sales of 24.4%.
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 November 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of November 2018 were 1,138 units sold. Which was down by 11.09% from the previous month as shown in the chart above.
In November 2018, the average sales price of a home in Tucson, Arizona was $258,599. Which was an increase of 2.78% from the previous month as shown in the chart above.
In November 2018, the median sales price of a home in Tucson, Arizona was $219,000. Which was an increase of 1.86% from the previous month as shown in the chart above.
In November 2018, the average days a home was on the market was 38 days. Which was 3 days less 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 November 2018 was 3,332 listings, which is a .15% increase from the previous month as shown in the chart above.
This number is one to keep an eye on.
If this upward movement in inventory continues, look for the market to continue to soften and prices to move sideways or which would create a buyer’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
