(Published on - 12/13/2018 1:30:50 AM)
The Tucson Housing Market continues to be relatively stable; however, inventory continues to remain low. The median sales price increased for the month of November 2018 and average days on the market decreased from 41 to 38 days. The average list price and sales price both increased from the previous month. Below are the statistics from the MLS of Southern Arizona in more detail. If you have any questions or need my help in selling or buying a house, don't hesitate to reach out to me.
• Total Sales Volume of $294,286,393 is down from $322,056,857 in October resulting in an 8.62% decrease but is up 5.31% from November 2017.
• The Average Sales Price of $258,599 is an increase of 2.78% from $251,606 last month.
• Average List Price of $264,688 is an increase of 3.11% from $256,699 in October.
• Total Under Contract of 1,464 is a decrease of 5.67% since October’s number of 1,552.
• Total Unit Sales of 1,138 is a decrease of 11.09% since last month’s number of 1,280.
• The Median Sales Price of $219,000 increased 1.86% from $215,000 in October and is up 5.53% from last year’s number of $207,527.
• New Listings of 1,595 have decreased 11.54% from 1,803 in October.
• Total Active Listings of 3,332 is an increase from 3,327 in October.
• Average Days on Market decreased from 41 to 38 this month.
• Conventional loan sales of 48.6% exceeded Cash Sales of 24.4%.
Marc Martinez, Real Estate Professional