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.
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
