The Tucson Housing Market October 2018
Tucson Housing Market October 2018 Update From MLSSAZ
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Tucson Housing Market October 2018 – And Now The Numbers
Tucson Housing Market October 2018 – The Trends
The Tucson Housing Market October 2018 report shows the average sales price INCREASED 1.14% to $251,606 from September. And UP 5.56% from October 2017.
The October 2018 average sales price stands at 85.7% of the June 2007 peak for average sales price.
The Median Sales Price for a Tucson home INCREASED 2.38% to $215,000. Since December 2017, the Tucson Home Median Sales Price has INCREASED 4.9%. And Year over year, the October 2018 median sales price is UP 7.55%.
The Median Sales Price of a Tucson home now stands at 95.6% of the June 2007 peak median sales price. A long 10 years, but “on average” the Median Sale Price close to the peak levels.
Tucson Housing Market October 2018 – Listing Prices
The Tucson Housing Market October 2018 report shows Tucson’s Average List Price of a home INCREASED 1.09% to $256,699.
But the more important question is “What is the average list price by area of Tucson?”
And the answer is!
October Active Listings INCREASED 3.64% to 3,327. 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 ARE DOWN 9.81%.
Tucson Housing Market October 2018 – Average Days On Market (DOM)
Days On Market INCREASED BY 3 DAYS TO 41 days in October. Buyers continue to pounce on well-priced homes.
Tucson Housing Market October 2018 – Market Drivers
A tight jobs market and the continued flow of baby boomers is creating steady upward pressure on Tucson home prices. The low number of active listings along with soft demand in the summer off set previous gains. But October saw Average Sales And Listing prices increasing. Both increasing over 1.0%
Tucson Housing Market October 2018 Mortgage Update
Mortgage rates have moved up. And are hovering around 5.0% for a 30-year conventional loan. While rates have increased, they are still “in the ball park” relative to recent year over year appreciation in home values.
Tucson has been identified as one of the Top 10 housing markets for 2017 and 2018. December’s data appears to be confirming Tucson is a top pick for cities to live in.
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. Show you the market data 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. We will also help you get deals on tile and paint to make the home you buy yours. 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.
Search the Tucson MLS for your dream home in Tucson Arizona using your criteria. Use the Tucson MLS Map to see where the Tucson MLS Areas are located.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!
Questions about the Tucson AZ Real Estate Market or Tucson Homes for Sale? Call Us – 520-940-4541 OR our easy CONTACT FORM and we will get right back to you!
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In case you missed them, here is the September 2018 and December 2018 Reports