TUCSON REAL ESTATE HOUSING MARKET REPORT – NOVEMBER 2014
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 November 2014 are below:
- Total Sales Volume fell this month going from 223,081,453 in October to $189,711,618 in November, a 14.96% decrease.
- The Average Sales Price decreased 1.70% from last month.
- Average List Price for November was $213,195, a 2.11% decrease since October’s number of $217,786.
- Total Under Contract decreased 13.72% from October.
- Total Unit Sales dropped from 1,060 in October to 917 in
- November resulting in a 13.49% decrease.
- The Median Sales Price for November was $165,000, a .90% decrease since last month, but a 3.45% increase over November 2013.
- New Listings decreased 11.84% from October to November.
- Total Active Listings of 5,820 is an increase of 3.03% since October’s number of 5,649, and is an increase of 10.10% since November 2013.
- Average Days on Market decreased to 58 this month from 64 in October.
- Conventional loan sales of 38.2 exceeded Cash Sales of 26.3% 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 November 2014.
In November 2014 there were 917 closes sales for the month. These are normal numbers for this time of year.
In November 2014 the average sales price of a home in Tucson, Arizona was $206,882. Which is up 7.31% from the previous year.
In November 2014 the median sales price of a home in Tucson, Arizona was $165,000. Which is up also up 3.33% from the previous year.
As of November 2014 the average days a home was on the market was 58 days. Which is 6 days 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 November 2014 was 5,820 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.
SUMMARY
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
