TAR: July Average Days on Market Lowest in over 10 Years

Tucson Association of Realtors (TAR) released stats for July and sales volume of $318,919,230 decreased 20.08% from last month and 4.40% from July 2016. Average Sales Price also decreased 4.79% this month to $226,827 from last month’s $238,245.

Average List Price fell from $243,575 in June to $231,299 in July, resulting in a 5.04% decline.

Total Under Contract decreased this month by 10.90%.  With total Unit sales month-over-month shows 1,406 homes sold in July compared to 1,675 in June, a 16.06% drop.

The Median Sales Price decreased 4.14% since last month, going from $200,000 in June to $191,725 in July, but is a 5.63% increase from July 2016.

New Listings of 1,827 decreased from 2,048 last month and Total Active Listings of 3,602 is a decrease from 3,525 last month.

Average Days on Market dropped from 44 days last month to 39 days this month and is the lowest it has been in over 10 years.

Conventional loan sales of 40.6% exceeded Cash Sales of 24%.

July 2017 Residential Sales Statistics HERE

July 2017 MLSSAZ Rental Statistics HERE