Real Estate Market Report for August 2018 Tucson, Arizona
Highlights of Tucson’s Residential Housing Market for August 2018:
*** Watch the video below ***
August 2018 Tucson, Arizona Housing Market Report
Every month the Tucson Association of Realtors Multiple Listing service shares a monthly housing report for Tucson. Here are the residential housing numbers for August 2018.
Here are 10 key Statistics for August 2018 Residential Sales in Tucson:
• Total Sales Volume of $349,507,394 is up from $347,114,173 in July
resulting in a .69% increase.
• The Average Sales Price of $259,663 is an increase of 2.26% from
$253,924 last month.
• Average List Price of $264,923 is an increase of 1.78% from
$260,279 in July.
• Total Under Contract of 1,859 is an increase of 4.67% since July’s
number of 1,776 and an increase of 13.77% over August 2017.
• Total Unit Sales of 1,346 is a decrease of 1.54% since last month’s
number of 1,367 and coincidentally exactly the same number as
• The Median Sales Price of $216,950 is an increase of .91% from
$215,000 in July and up 12.99% from last year’s number of $192,000.
• New Listings of 1,755 is a decrease of 1.63% from 1,784 in July.
• Total Active Listings of 2,944 is a decrease from 2,967 in July and a
decrease of 15.89% since last year.
• Average Days on Market decreased to 38 this month from 43 last
• Conventional loan sales of 49.3% exceeded Cash Sales of 22.7%
Buying or Selling? See what the charts below mean to you
Closed sales are identical to last year a reminder of the consistency Tucson has experienced the last few years.
The numbers say it all with year over year growth in the average selling price.
Housing inventory continues to be low and we have less than a 3 month supply.
WHAT DOES THIS MEAN IF YOU’RE A………..
Act quickly when you find the right home. If it satisfies 70% of your want list then go for it!
Price your home to lead the market and it will sell. Don’t play games by pricing higher than value and then coming down. Price right from the start and you’ll be under contract soon.
Prepare your home before the photographer shows up and before every showing. Here’s a couple dozen tips on how to do that here.
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