Tucson Association of Realtors (TAR/MLS) is reporting that following a pause in January, every core measure of Tucson home sales improved in February. Selling prices, inventory and pending contracts all showed gains while home sales increased 16.2%.
February home sales were 935 units, a slight dip compared to a year ago, but 130 more sales than in January. Month over month, the median selling price increased about $6,750 to $167,000 (+4.2%) and the average selling price increased about $14,500 to $209,403 (+ 7.5%).
Housing inventory also grew slightly in February to 5,857 units, about a 5.1-month supply. Nationally, the supply is about 4.7 months, according to the National Association of REALTORS®.
For 2015, the economic fundamentals remain in place for another year of improvement in the Tucson-area’s housing market.
|CATEGORY||FEB. 2014||FEB. 2015||CHANGE|
|Unit Sales||961||935||– 2.7%|
|Total Sales Volume||$188.9 M||$195.8 M||+ 3.6%|
|Median Sales Price||$158,000||$167,000||+ 5.7%|
|Average Sales Price||$196,581||$209,403||+ 6.5%|
|Pending Contracts||1,961||1,993||+ 1.6%|
|YTD Unit Sales||1,815||1,740||– 4.1%|
|CATEGORY||JAN. 2015||FEB. 2015||CHANGE|
|Unit Sales||805||935||+ 16.2%|
|Total Sales Volume||$156.8 M||$195.8 M||+ 24.9%|
|Median Sales Price||$160,250||$167,000||+ 4.2%|
|Average Sales Price||$194,878||$209,403||+ 7.5%|
|Active Listings||5,803||5,857||+ 0.9%|
|Pending Contracts||1,764||1,993||+ 13%|
Click here for Full Report https://www.tucsonrealtors.org/docs/default-source/Stats/statsfeb2015.pdf?sfvrsn=0