Highlights of Tucson’s Residential Housing Market for September 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 September 2018.
In September 2018, the Tucson housing market inventory levels increased. First signs in months of a shift in the market as median home sales price decrease and inventory levels creep up slightly.
Average days on the market…
record low of 38 days!
Check out what home prices are doing in Tucson, AZ September 2018.
Highlights of the Tucson Housing Market Report for September 2018 are below:
- Total Sales Volume of $287,318,178 is a drop from $349,507,394 in August resulting in a 17.79% decrease.
- The Average Sales Price of $248,760 is a decrease of 4.20% from $259,663 last month.
- Average List Price of $253,924 is a decrease of 4.15% from $264,923 in August.
- Total Under Contract of 1,613 is a decrease of 13.23% since August’s number of 1,859.
- Total Unit Sales of 1,155 is a decrease of 14.19% since last month’s number of 1,346 and a decrease of 4.70% since September 2017.
- The Median Sales Price of $210,000 is a decrease of 3.20% from $216,950 in August but up 1.49% from last year’s number of $206,915.
- New Listings of 1,780 is an increase of 1.42% from 1,755 in August.
- Total Active Listings of 3,210 is an increase from 2,944 in August and a decrease of 10.51% since last year.
- Average Days on Market remained at 38 this month, the same as last month.
- Conventional loan sales of 47.9% exceeded Cash Sales of 21.8%.
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 September 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of September 2018 were 1,155 units sold. Which was down by 14.19% from the previous month as shown in the chart above.
In September 2018, the average sales price of a home in Tucson, Arizona was $248,760. Which was a decrease of 4.20% from the previous month as shown in the chart above.
In September 2018, the median sales price of a home in Tucson, Arizona was $210,000. Which was a decrease of 3.20% from the previous month as shown in the chart above.
In September 2018, the average days a home was on the market was 38 days. Which was the same as the previous month and 7 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of September 2018 was 3,210 listings, which is a 9.04% 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
