TUCSON REAL ESTATE HOUSING REPORT OCTOBER 2015
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 real estate housing report October 2015.
Real estate in Tucson, AZ is on a positive upswing.
Highlights of the Tucson Real Estate Housing Market Report for October 2015 are below:
- Total Sales Volume increased this month to $251,340,493. It’s a 1.05% increase from last month’s number of $248,739,868, and a 12.67% increase over October 2014.
- The Average Sales Price increased to $211,566 from $206,766 in September, resulting in a 2.32% increase.
- Average List Price for October is $218,097, an increase of 2.56% since last month.
- Total Under Contract increased by 3.27% from September.
- Total Unit Sales of 1,188 decreased from September’s number of 1,203, resulting in a 1.25% decrease but is an increase of 12.08% over October 2014.
- The Median Sales Price increased slightly to $172,825 from $172,000 in September, a .48% increase.
- New Listings decreased 1.83% from September.
- Total Active Listings of 5,043 is a 2.73% increase from September’s number of 4,909.
- Average Days on Market increased to 63 in October from 61 in September.
- Conventional loan sales of 35.9% exceed Cash Sales of 28.11% this month.
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 October 2015.
In October 2015, there were 1,188 closes sales for the month as shown in the chart above. These are normal numbers for this time of year.
That is an average of about 40 homes SOLD every day in Tucson in the month of October 2016. There are a couple of key factors in getting your home SOLD for the most amount of money in the least amount of time.
Key Factors In Getting Your Home SOLD:
- Price
- Uber Awesome Photos
- Home Look Great – 47 Key Factors To Make Your House Look Great!
In October 2015, the average sales price of a home in Tucson, Arizona was $211,566. Which was up 2.32% from September 2015 as shown in the chart above.
In October 2015, the median sales price of a home in Tucson, Arizona was $172,825. Which was up .48% from September 2015 as shown in the chart above.
As of October 2015, the average days a home was on the market was 63 days. Which is 2 days more than the previous month and 1 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of October 2015 was 5,043 listings as shown on the chart above.
This number is one to keep an eye on. If this uptrend in inventory continues to look for the market to soften and prices do move down which sets up for a buyers market. Inventory levels are trending down which leads to a seller’s market causing home values to rise.
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 quick is key in getting your offer accepted.
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 to work for you. We would love to earn your business!
LINKS
The difference between average and median?
For a complete breakdown of the Monthly Statistics for November: CLICK HERE
