TUCSON REAL ESTATE HOUSING MARKET REPORT – OCTOBER 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 October 2014 are below:
- Total Sales Volume increased this month going from $209,188,665 in September to $223,081,453 in October, a 6.64% difference.
- The Average Sales Price increased 4.43% from last month.
- Average List Price for October was $217,786, a 4.97% increase over September’s $207,472.
- Total Under Contract increased .89% from September
- Total Unit Sales increased from 1,038 in September to 1,060 in October resulting in a 2.12% increase.
- The Median Sales Price for October was $166,500, a .91% increase since last month, and a 7.42% increase over October 2013.
- New Listings decreased 3.62% from September to October.
- Total Active Listings of 5,649 is an increase of 3.90% since September’s number of 5,437, and is an increase of 9.20% since October 2013.
- Average Days on Market increased to 64 this month from 59 in September.
- Conventional Loans Sales of 40.5% exceeded Cash Sales of 26.8% this moth.
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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 October 2014.
In October 2014 there were 1,060 closes sales for the month. These are normal numbers for this time of year.
In October 2014 the average sales price of a home in Tucson, Arizona was $210,454. Which is up 8.56% from the previous year.
In October 2014 the median sales price of a home in Tucson, Arizona was $166,500. Which is up also up 6.91% from the previous year.
As of October 2014 the average days a home was on the market was 64 days. Which is 5 days more than the previous month and 14 days more than the previous year.
The number of active listings in Tucson, Arizona in the month of October 2014 was 5,649 listings. This number is one to keep an eye on.
SUMMARY
BUYERS
As home inventory levels begin to rise coupled with the average days on market increasing it 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 and Days On Market (DOM) have gone up pricing, 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 October: CLICK HERE
