Highlights of Tucson’s Residential Housing Market for June 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 June 2018.
In June 2018, the Tucson housing market inventory levels continue to remain low putting upward pressure on home values and lowering the average days a home is on the market.
Tucson home inventory levels remain low!
Check out what home prices are doing in Tucson, AZ June 2018.
Highlights of the Tucson Residential Housing Market Report for June 2018 are below:
- Total Sales Volume of $412,805,427 is a decrease of 0.14% from
May’s number of $413,401,140 but an increase of 11.12% since June
2017. - The Average Sales Price of $259,137 is a decrease of .90% from
$261,480 in May. - Average List Price of $264,328 is a decrease of 1.09% from last
month’s number of 267,234. - Total Under Contract of 1,856 is a decrease of 13.03% since May’s
number of 2,134. - Total Unit Sales of 1,593 are .76% higher than May’s 1,581 and up
4.25% from this time last year. - The Median Sales Price of $212,000 decreased from $216,500 last
month but is up 3.41% from June 2017. - New Listings of 1,887 are down from 1,981 last month, resulting in a
4.75% decrease. - Total Active Listings of 2,974 are a decrease from 3,048 in May.
- Average Days on Market decreased from 41 last month to 39.
- Conventional loan sales of 47.8% exceeded Cash Sales of 22.5%.
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 June 2018.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of June 2018 were 1,593 units sold. Which was up by only 12 units or .76% from the previous month as shown in the chart above.
In June 2018, the average sales price of a home in Tucson, Arizona was $259,137. Which was a decrease of .90% from the previous month as shown in the chart above.
In June 2018, the median sales price of a home in Tucson, Arizona was $212,000. Which was a decrease of 2.08% from the previous month as shown in the chart above.
In June 2018, the average days a home was on the market was 39 days. Which was 2 days less from the previous month and 5 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of June 2018 was 2,974 listings, which is a 2.43% decrease from the previous month as shown in the chart above.
This number is one to keep an eye on.
If this downward trend in inventory continues, look for the market to continue to strengthen and prices to move up which has created a seller’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 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?
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