The Tucson Association of Realtors and Multiple Listing Service of Arizona recently released their 2017 housing statistics review. 2017 proved to be a great year for the Tucson housing market with the highest Total Sales Volume in the last ten years. Listing prices and sales prices have continued to grow towards levels not seen since before the recession.
A snapshot of the MLS Year in Review Summary shows total sales volume for 2017 is $3,773,311,675, an increase of 3.31% over 2016. The average list and sold prices were up. Days on market as well as cumulative days on market saw a significant decrease again this year. All these factors are indicative of the high demand and low inventory, and point to an economic recovery in Tucson. Average % of list price received on sales continue to increase again this year and continues to the the highest it has been in over 10 years. Click here for the complete Multiple Listing Service of Southern Arizona 2017 Year End Review.
As you can see from the January 2018 Tucson Housing Market Stats chart above, inventory continues to decline, so this may be the perfect time for you to sell. The Bizzy Orr Team recently sold 3 homes, with multiple offers, for over asking price! The market is heating up; contact us for a complimentary market analysis: 520.820.1801.