Tucson, Arizona Real Estate Market Report for November 2018
January 30, 2019, Author: Kevin Wood
Highlights of Tucson’s Residential Housing Market for November 2018:
*** Watch the video below ***
November 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
Here are 10 key Statistics for November 2018 Residential Sales in Tucson:
• Total Sales Volume of $294,286,393 is down from $322,056,857 in October
resulting in a 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%
Buying or Selling? See what the charts below mean to you
WHAT DOES THIS MEAN IF YOU’RE A………..
Housing inventory is beginning to rise and we’re likely heading into a more balanced or normal housing market. This means you’ll have a more negotiating power because there’s more houses for sale.
Housing values have risen on average 6.5% across the United States this year and with rising housing inventory that amount of growth will level off. Be aware of this change and choose a list price that leads the market not chases it.