TUCSON REAL ESTATE HOUSING MARKET REPORT – FEBRUARY 2015
Each month the Tucson Association of Realtors® Multiple Listing Service comes out with Tucson’s monthly housing report.
Highlights of the Tucson Real Estate Housing Market Report for February 2015 are below:
- Total Sales Volume for February was $195,792,147, a 24.89% increase from January’s number of $156,772,690.
- The Average Sales Price increased this month to $209,403 from $194,878 in January.
- Average List Price increased 7.24%, going from $201,687 in January to $216,281 in February.
- Total Under Contract increased by 12.98% since January.
- Total Unit Sales were up from 805 in January to 935 in February, resulting in a 16.15% increase.
- The Median Sales Price rose to $167,000 this month from $160,250 in January, a total of 4.21%.
- New Listings decreased 1.20% from January to February but have increased 14.48% since February 2014.
- Total Active Listings of 5,857 were up .93% since January’s number of 5,803.
- Average Days on Market decreased to 69 this month from 70 in January.
- Conventional loan sales of 36.7 exceeded Cash Sales of 33.7% this month.
These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?
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Tucson Home Values Are Up Up Up
Curious about your home’s value? CLICK HERE
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Below are some important charts of data we compiled to give you a visual of how the Tucson housing market is trending for February 2015.
In February 2015, there were 935 closes sales for the month. These are normal numbers for this time of year.
In February 2015, the average sales price of a home in Tucson, Arizona was $209,403. Which is up 7.53% from January 2015.
In February 2015, the median sales price of a home in Tucson, Arizona was $167,000. Which was up 4.38% from January 2015.
As of February 2015 the average days a home was on the market was 69 days. Which is 1 day less than the previous month and 7 days more than the previous year.
The number of active listings in Tucson, Arizona in the month of February 2015 was 5,857 listings. This number is one to keep an eye on. If this up trend in inventory continues look for the market to soften and prices do move down which sets up for a buyers market.
BUYERS
As home inventory levels begin to rise this makes for the perfect buying opportunity to negotiate a lower purchase price, the fixing of more repairs and or having the seller pay more of your closing cost.
SELLERS
As the number of listings have increased, marketing and making your home look great are keys to selling your home FAST and for MORE MONEY.
Buyers have lots of inventory to choose from!
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 to work for you. We would love to earn your business!
LINKS
The difference between average and median?
For a complete break down of the Monthly Statistics for November: CLICK HERE