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/

 

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