By Roger Yohem, Communications Director
Tucson Association of Realtors / MLS
In March, the Tucson Median Selling Price of an existing home reached $172,000, the highest level since 2009. In addition, almost every core measure of the region’s housing sector strengthened; according to new data from the Tucson Association of REALTORS® Multiple Listing Service (TAR/MLS).
Following a slight pause in January, the housing sector has seen solid gains in selling prices, unit sales, and pending sales. The Tucson March Median Selling Price of $172,000 was the highest since $177,750 in February 2009. The median is the midway selling price of all homes sold during the month and over time, is typically an accurate indication of market trends.
March home sales were 1,275 units, a strong 36.4% more than the 935 units sold in February. Year-over-year, home sales were 12.7% higher. Pending sales (homes under contract) also increased notably, rising from 1,993 in February to 2,294 in March (+15.1%).
The Average Selling Price was basically flat for the month and listings fell slightly. For 2015, the economic fundamentals remain in place for another year of modest improvement in the Tucson-area’s housing market.
YEAR-OVER-YEAR HIGHLIGHTS
| CATEGORY | MAR. 2015 | MAR. 2014 | CHANGE |
| Unit Sales | 1,275 | 1,131 | 12.7% |
| Total Sales Volume | $266.1M | $226.7M | 17.3% |
| Median Sales Price | $172,000 | $162,000 | 6.2% |
| Average Sales Price | $208,673 | $200,479 | 4.1% |
| Active Listings | 5,721 | 5,705 | 0.3% |
| Pending Contracts | 2,294 | 2,173 | 5.6% |
| YTD Unit Sales | 3,015 | 2,946 | 2.3% |
MONTH-TO-MONTH HIGHLIGHTS
| CATEGORY | MAR. 2015 | FEB. 2015 | CHANGE |
| Unit Sales | 1,275 | 935 | 36.4% |
| Total Sales Volume | $266.1M | $195.8 M | 35.9% |
| Median Sales Price | $172,000 | $167,000 | 3% |
| Average Sales Price | $208,673 | $209,403 | -0.3% |
| Active Listings | 5,721 | 5,857 | -2.3% |
| Pending Contracts | 2,294 | 1,993 | 15.1% |
© Tucson Association of REALTORS® Multiple Listing Service
Quick Click: March TAR/MLS Residential Report