Tucson, Arizona Real Estate Market Report for October 2018
December 18, 2018, Author: Kevin Wood
Highlights of Tucson’s Residential Housing Market for October 2018:
*** Watch the video below ***
October 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 October 2018 Residential Sales in Tucson:
• Total Sales Volume of $322,056,857 is up drop from $287,318,178 in September
resulting in a 12.09% increase.
• The Average Sales Price of $251,606 is an increase of 1.14% from
$248,760 last month.
• Average List Price of $256,699 is an increase of 1.09% from
$253,924 in September.
• Total Under Contract of 1,552 is a decrease of 3.78% since September’s
number of 1,613.
• Total Unit Sales of 1,280 is a decrease of 10.82% since last month’s
number of 1,155 and an increase of 5.61% since October 2017.
• The Median Sales Price of $215,000 increased 2.38% from
$210,000 in September and is up 7.55% from last year’s number of $199,900.
• New Listings of 1,803 have increased 1.29% from 1,780 in September.
• Total Active Listings of 3,327 is an increase from 3,210 in September.
• Average Days on Market increased from 38 to 41 this month.
• Conventional loan sales of 48.0% exceeded Cash Sales of 24.7%
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.