TAR Reports Pending Home Sales Bounced Back in January

TUCSON, Arizona — Tucson Association of Realtors (TAR) has released stats for January 2017. Average Sales Price decreased 4.17% this month to $217,144 from $226,598, while home sales pushed up 13.60%, per the Tucson Association of REALTORS® Multiple Listing Service.

The Average Selling Price compared to one year ago has increased 2.09% from $216,510, and the Median Selling Price jumped by $5,000 going up 2.79% to $184,000 since December 2016. This is also an increase of 8.3% over January 2016.

Total sales volume of $237 million decreased 14.78% from December ($278 million) and year-over-year 13.59% higher since January 2016.

The month-over-month, 1,093 homes in January compared to 1,229 homes in December was -11.07% but up 13.26% from January 2016 (965 home sales).

Total Pending Home Sales in the pipeline shows the real optimism for 2017, and increased by 19.46% in January over December, an 8.69% increase year-over-year.

The highest activity was in the Northwest area followed by the Central submarket.

Highlights from TAR’s Residential Sales Report:

  • New Listings of 2,282 rose from 1,261 in December, an increase of 80.97%
  • Total Active Listing of 3,777 increased from 3,752 last month on Tucson MLS an increase of 25.87% from January last year.
  • Average Days on Market for January is 50, up one day from December’s 49.
  • Conventional loan sales of 47.0% exceeded Cash Sales of 24.9%

Refer to full January sales report for graphs and additional information at:

Full Tucson MLS sales report: January 2017 Sales stats

Tucson Rental statistics: January 2017 Rental stats

To view TAR’s new animated housing market report for January click here: https://www.facebook.com/tucsonrealtors/videos/10154980628274414/

 




TAR Reports Tucson Home Sales Kept Strong Pace in November

TUCSON, Arizona — Tucson Association of Realtors (TAR) has released stats for November 2016. Average Sales Price increased another .25% this month to $217,446 from $216,902 in October, while sales volume pushed up 44.57% since November 2015, according to the Tucson Association of REALTORS® Multiple Listing Service.

The Average Selling Price of one year ago has increased 3.8 % over the year from $209,485 and the Median Selling Price has increased by 9.41% to  $184,900 since November 2015.

Total sales volume of $275 million increased 44.57% from 2015 number ($190 million).

The month-over-month, 1,266 homes in November compared to 1,259 homes in October was relatively unchanged (.56%) but shows a 39.27% increase from November 2015 (909 home sales).

The highest activity was in the Northwest submarket (335 homes) followed by the Central submarket (152 homes).

Highlights from TAR’s Residential Sales Report:

  • Total Under Contract increased by 6.52% year over year.
  • New Listings decreased -1.26% from 2015
  • Total Active Listing of 4,067 on Tucson MLS is a decrease of -20.19% since November 2015 (5,096)
  • Average Days on Market continues to decline from 60 days last year to 47 in November 2016.
  • Conventional loan sales were 47.55% exceeded Cash Sales that were 23.06% of the 1,266 homes sold in November 2016.

Please refer to full November sales report for additional information at:

Full Tucson MLS sales report: statsnov2016sales

Tucson Rental statistics: statsrentnov2016rents

Click Here for latest November 2016 housing infographic




TAR Report: January housing market slowed; future sales point higher

TARIconFrom Roger Yohem, Communications Director, Tucson Association of Realtors

As typically happens with each new year, the Tucson region’s housing market slowed in January.  The key measurements of total home sales and selling prices dropped more than normal expectations, according to the Tucson Association of REALTORS® Multiple Listing Service (TAR/MLS).

In contrast, the number of homes under a purchase contract and new listings soared.  Pending sales in January were 35.3% higher than December, and only 2% off the January 2014 pace.  New listings spiked 64% in January, making the inventory 6% larger than one year ago.

These two factors indicate that future sales in February likely will be higher than normal.

Yes, the housing market’s performance in January was a bit uneven.  That’s why a longer-term view is a better measurement of where the market is headed.  On a quarterly basis, the statistics tend to smooth out to form a better trend line going forward.  And for 2015, the economic fundamentals remain in place for another year of modest improvement in the region’s housing market.

January 2015 housing highlights:

  • Sales: 805 homes were 25.2% less than December (1,076 homes)

Year-over-year: 5.7% lower than January 2014 (854 sales)

  • Total Sales Volume of $156.8 million was 29% less than December ($220.1 million)

Year-over-year: 6.9% lower than January 2014 ($168.5 million)

  • Medium Sales Price of $160,250 was 2.9% lower than December ($165,000)

Year-over-year:  1.9% higher than January 2014 ($157,250)

  • Average Sales Price of $194,878 was 4.9% lower than December ($205,015)

Year-over-year: 1.2% lower than January 2014 ($197,262)

  • Active Listings of 5,803 units were 4% more than December (5,577)

Year-over-year: 5.6% higher than January 2014 (5,477 units)

  • Conventional Loan Sales were 37.5%;  cash sales were 34.8%

Quick Click:  Full TAR/MLS Residential Report