The Tucson Housing Market January 2018
Tucson Housing Market Update From MLSSAZ
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Tucson Housing Market January 2018 – Behind The Numbers
The Tucson Housing Market January 2018 report shows the average sales price DECREASED 1.89% to $243,431. But was UP 10.25% from January 2017.
The January 2018 average sales price stands at 83.0% of the June 2007 peak average sales price.
The Median Sales Price for a Tucson home DECREASED 2.44% to $200,000. Since January 2017, the Tucson Home Median Sales Price has INCREASED 8.11%.
The Median Sales Price of a Tucson home now stands at 88.9% of the June 2007 peak median sales price. A long 10 years, but “on average” the Median Sale Price has almost fully recovered.
The Tucson Housing Market January 2018 report shows Tucson’s average list price of a home DECREASED 1.89% to $249,970.
January’s Active Listings DECREASED 2.26% to 3,375. Active Listings continue below 4,000 for yet another month. Active Listings under 5,000 means the Tucson Real Estate market continues to be very “tight”. Year over Year active listings DECREASED 0.65%.
Homes under contract at the end of January INCREASED 41.32% to 1,823. There are some happy Tucson Real Estate Agents out there.
Days On Market INCREASED to 49 days in January. Buyers continue to pounce on well-priced homes. Days on Market for January 2017 stood at 50 days.
And now for the rest of the story on the Tucson Housing Market January 2018 –
New jobs and the continued flow of baby boomers appear to be providing steady upward pressure on Tucson home prices. The lower number of active listings along with steady demand may move average listing prices and sales prices higher.
Tucson Housing Market January 2018 Mortgage Update
Mortgage rates continue to hover under 4.5% for a 30-year conventional loan. A 4.5% mortgage rate isn’t bad when the median price of a Tucson home is increasing 7% to 10% per year.
Tucson has been identified as one of the Top 10 housing markets for 2017 and 2018. January is off to a slow start, but we will see what the next few months reveal.
Considering A Home Tucson?
Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor team, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.
For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home. Review our profiles. Check out our backgrounds, education, and certifications.
We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services.
Our professional service backgrounds mean we put you first!
When submitting an offer
Given current inventory levels, low ball offers aren’t getting traction. So, if you “really” want the home, make a “reasonable” offer.
You have to ask yourself, “Will I feel bad if I don’t get this house?” If the answer is no, then put in an offer you would feel is a steal and see what happens. If the answer is yes, put in an offer you and your Realtor think is reasonable.
We will work with you to understand your objectives and analyze the market to determine – as best we can – a price range for the home you want to buy or sell.
Longer term Tucson housing market trends can be found for Tucson Real Estate Trends 2006 to 2012 annual along with summaries of 2013 and 2014 annual data.
Go to the Tucson housing report archives for a look at recent housing reports and trends. Our outlook for 2015 is available in our latest issue of Tucson Realty Review.
Conclusion
Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541. We are ready to answer your questions and help you get the information you are looking for.
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