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July 2018 Tucson, Arizona Housing Market Report

September 5, 2018, Author: Kevin Wood

Highlights of Tucson’s Residential Housing Market for July 2018:

*** Watch the video below ***

 

July 2018 Tucson, Arizona Housing Market Report

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Every month the Tucson Association of Realtors Multiple Listing service shares a monthly housing report for Tucson. Here are the residential housing numbers  for July 2018.

 

Here are 10 key Statistics for July 2018 Residential Sales: 

  • Total Sales Volume of $347,114,173 is down 15.91% from June’s number of $412,805,427 but is up 16.84% from last year.  
  •  The Average Sales Price of $253,924 is a decrease of .2.01% from $259,137 in June. 
  •  Average List Price of $260,279 is a decrease of 1.53% from last month’s number of $264,328.  
  •  Total Under Contract of 1,776 is a decrease of 4.31% since June’s number of 1,856.  
  •  Total Unit Sales of 1,367 is a decrease of 14.19% since last month’s number of 1,593 but up 6.13% since July 2017.  
  •  The Median Sales Price of $215,000 is an increase of 1.42% from $212,000 in June and up 10.26% from last year’s number of $195,000.  
  •  New Listings of 1,784 are a decrease of 5.46% from 1,887 in June.  
  •  Total Active Listings of 2,967 are a slight decrease from 2,974 in June.  
  •  Average Days on Market increased to 43 this month from 39 last month.  
  •  Conventional loan sales of 46.2% exceeded Cash Sales of 21.7%. 

 

Buying or Selling? See what the charts below mean to you 

Total real estate sales in Tucson for the month of July 2018 were 1,367 units sold. Which was down by  14.19% from the previous month as shown in the chart above. 

 

In July 2018, the average sales price of a home in Tucson, Arizona was $253,924. Which was a decrease of 2.01% from the previous month as shown in the chart above. 

 

The average days a home was on the market was 43 days. Which was 4 days more than the previous month and 4 days more than the previous year as shown in the chart above.

 

The number of active listings in Tucson, Arizona in the month of July 2018 was 2,967 listings, which is a .24% decrease from the previous month as shown in the chart above. 

 

Active listings and the number of sales by unit each month are key numbers to know because they indicate the amount of available housing to buy also known as supply. When supply is low and demand consistent home prices can go no place but up! 

 

WHAT DOES THIS MEAN IF YOU’RE A………..  

BUYER 

Buying a home in the current market requires preparation and intention. Know what you want before you see the first home and be ready to act when you find it. Otherwise you may miss out.

 SELLER 

You’re home will sell fast in today’s market if it shows well and is priced right. Here’s a list of  25 staging tips to help make your HOME SELL FAST and for TOP DOLLAR. 

Once your home hits the market one of three things will happen: 

  1. Low to no showings 
  1. 6 to 10 showings with no offers 
  1. It sells 

 

RESOURCES AND LINKS:  

25 Staging tips

FOR A COMPLETE REPORT FOR JULY 2018 CLICK HERE

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