Single Family Home Sellers Getting 98.3% Of Their List Price in September 2019
With the kids back in school and the weather cooling, the housing market begins its annual cool-down as well. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. The
market fundamentals suggest no significant changes from recent trends, other than the seasonally tempered pace we see this time of year. As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes.
Median Sales Price increased 11.1 percent to $250,000 for Single Family and 8.5 percent to $157,375 for Townhouse/Condo. Days on Market decreased 9.8 percent for Single Family and 3.4 percent for Townhouse/Condo. Months Supply of Inventory decreased 25.9 percent for
Single Family and 6.7 percent for Townhouse/Condo.
While Halloween around the country, the real estate market this fall is looking far from scary.
Average days on market for single family homes... 37 Days!
Check out what home prices are doing in Tucson, AZ for September 2019.
Tucson Market Report Highlights:
- New Listings increased 0.7 percent for Single Family and 16.9 percent for Townhouse/Condo.
- Pending Sales increased 21.3 percent for Single Family and 4.9 percent for Townhouse/Condo.
- Inventory decreased 22.0 percent for Single Family and 8.8 percent for Townhouse/Condo.
- Median Sales Price increased 11.1 percent to $250,000 for Single Family and 8.5 percent to $157,375 for Townhouse/Condo.
- Days on Market decreased 9.8 percent for Single Family and 3.4 percent for Townhouse/Condo.
- Months Supply of Inventory decreased 25.9 percent for Single Family and 6.7 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 September 2019.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Closed Home Sales
Total real estate sales in Tucson for the month of September 2019 was 1,090 single family homes sold and 140 townhouse/condos sold.
Which was +8.9% year-over-year change for single-family homes and -18.6% year-over-year change for townhouse/condos from the previous year as shown in the chart above.
Average Home Sales Price
In September 2019, the average sales price in Tucson of a single-family home in was $300,244 and $174,644 for a Townhouse/Condo.
Which was a +12.8% year-over-year change for single-family homes and a +3.6% year-over-year change for townhouse/condo from the previous year shown in the chart above.
Median Home Sales Price
In September 2019, the median sales price in Tucson of a single-family home was $250,000 and $157,375 for a townhouse/condo.
Which was a +11.1% year-over-year change for single-family homes and a 8.5% year-over-year change for townhouse/condo as shown in the chart above.
Average Days On Market
In September 2019, the average days it took a single-family home to sell was 37 days and 28 days for a townhouse/condo as shown in the chart above.
This was a year-over-year change of -9.8% for a single-family home and -3.4% for a townhouse/condo.
Active Home Listings
The number of active listings in Tucson, Arizona for single-family homes was 2,309 and 249 for townhouse/condo.
This was a -22.0% year-over-year change for single-family homes and a -8.8% 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!
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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.
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