TUCSON REAL ESTATE HOUSING MARKET REPORT – JANUARY 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 January 2015 are below:
- The Average Sales Price fell slightly this month from $205,015 in December to $194,878, a 4.94% decrease.
- Average List Price for January was $201,687, a 4.90% decrease since December’s number of $212,078.
- Total Under Contract increased by 35.28% from December.
- Total Unit Sales dropped from 1,076 in December to 805 in January resulting in a 25.19% decrease.
- The Median Sales Price dropped to $160,250 this month, compared to last month’s number of $165,000, resulting in a 2.88% decrease.
- New Listings increased 64.35% from December to January.
- Total Sales Volume for January was $156,772,690, a 28.93% decrease from last month’s number of $220,596,263.
- Total Active Listings of 5,803 is an increase of 4.05% since December’s number of 5,577, and an increase of 5.95% since January 2014.
- Average Days on Market increased to 70 this month from 61 in December.
- Conventional loan sales of 37.5 exceeded Cash Sales of 34.8% 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 January 2015
In January 2015, there were 805 closes sales for the month. These are normal numbers for this time of year.
In January 2015, the average sales price of a home in Tucson, Arizona was $194,748. Which is down 4.33% from the average of 2014.
In January 2015, the median sales price of a home in Tucson, Arizona was $160,000. Which was down 2.57% from 2014.
As of January 2015 the average days a home was on the market was 70 days. Which is 9 days more than the previous month and 8 days more than the previous year.
The number of active listings in Tucson, Arizona in the month of January 2015 was 5,803 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
