Tucson Home Sales Rise Steadily along with Prices in April

TARIconTucson Association of Realtors (TAR) has released encouraging stats for April 2015. Average Tucson Home Sales Price was slightly increased this month to $210,749 from $208,673 in March, while home sales pushed up a strong 9.55% in April, according to the Tucson Association of REALTORS® Multiple Listing Service.

The Average Selling Price increased slightly by $2,076 compared to March, yet is $13,683 more than one year ago ($197,066). Increases in the Median Selling Price have risen 4.69% since January ($160,000) to $167,500 in April.

Total sales volume of $217.74 million is an increase of 1.79 percent over March ($213.91 million) and year-over year, 13.68 percent higher (+$35 million) than April 2014 ($256.4 million).

The increased month-over-month, 1,383 homes were 8.47 percent higher than March (1,275 homes) a 6.30% increase when compared to April 2014 (1,301 home sales).

In April, the two top performing zip codes for resale homes were near the Tucson International Airport: The top three zip codes of the 1,383 homes sold in April were:

  • 85706: The area immediately north of the airport where 24 of 37 listings (64.9%) sold.
  • 85756: A large area south and east of the airport where 37 of 71 listings (51.1%) sold.
  • 85743: A large area west of I-10 from Twin Peaks south along Sandario Road where 69 of 176 listings (39.2%) sold.

Highlights from TAR’s Residential Sales Report:

  • * The Median Sales Price was slightly lower this month at $167,500 from $172,000 in March, resulting in a 2.62% decrease.
  • * New Listing decreased 10.52% from March.
  • * Total Homes Under-Contract increased by 1.83% from March.
  • * Total Active Listings of 5,487 is a decrease from March’s number of 5,721.
  • * Average Days on Market decreased to 66 in April from 68 in March.
  • * Conventional loan sales accounted for 37.5 percent continue to exceed Cash Sales of 27.1 percent in April; while FHA and VA loans combined accounted for the remainder according to TAR’s tracking.

Please refer to full April sales report for graphs and additional information.

Full Tucson MLS Report: TUCSON HOME SALES CLICK HERE

Tucson Rental statistics: CLICK HERE