TAR: Core Measurement of Tucson Home Sales Improved February

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TARIconTucson 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.

YEAR-OVER-YEAR HIGHLIGHTS

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%
Active Listings 5,721 5,857 +2.4%
Pending Contracts 1,961 1,993 + 1.6%
YTD Unit Sales 1,815 1,740 – 4.1%

 

MONTH-TO-MONTH HIGHLIGHTS 

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