The Tucson housing market appears healthy even with some signs of slow down in October, as we head into the holiday season something normal for this time of year.
Check out what home prices are doing in Tucson, AZ for October 2016.
Highlights of the Tucson Residential Real Estate Market Report for September 2016 are below:
- Total Sales Volume is down this month to $273,080,211 from last month’s number of $293,536,476, which is a decrease of 6.97%, but an increase of 8.65% since October 2015.
- The Average Sales Price dropped 1.65% to $216,902, from $220,538 in September.
- Average List Price of $222,728 is an increase of 2.99% from September’s number of $216,257.
- Total Under Contract increased by .48% this month.
- Total Unit Sales 1,259 is down 5.41% from 1,331 in September, but is up 5.98% from October 2015.
- The Median Sales Price $178,000 is up .56% from last month’s number of $177,000 and 2.99% over October 2015.
- New Listings, 2,061 is an increase of 5.42% from September’s number of 1,955.
- Total Active Listings of 4,103 is an increase of 2.68% since September.
- Average Days on Market stayed at 49 for the second month in a row.
- Conventional loan sales of 45.0% exceeded Cash Sales of 23.3%.
These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?
Total real estate sales in Tucson for the month of October 2016 were 1,259 units sold. Which was a decrease of 5.41%from the previous month as shown in the chart above.
In October 2016, the average sales price of a home in Tucson, Arizona was $216,902. Which was a decrease of 1.65% from the previous month as shown in the chart above.
In October 2016, the median sales price of a home in Tucson, Arizona was $178,000. Which was a increase of .56% from the previous month as shown in the chart above.
In October 2016, the average days a home was on the market was 49 days. Which was the same as the previous month and 14 days less than the previous year as shown in the chart above.
The number of active listings in Tucson, Arizona in the month of October 2016 was 4,103 listings as shown on the chart above.
This number is one to keep an eye on.
If this down trend in inventory continues look for the market to strengthen and prices to move up which sets up for a sellers market.