You are currently viewing Tucson Real Estate Housing Market–August 2019

Tucson Real Estate Housing Market–August 2019

Every month the Tucson Association of Realtors Multiple Listing service shares a
monthly housing report for Tucson. Here is the Tucson Housing report statistics below for August 2019.

Here are 10 key Statistics: August 2019 Tucson Housing Report:

  • Total Sales Volume of $381,791,399  is down from $428,196,066 in July, a 10.84% decrease.
  • The Average Sales Price of $268,300 is a decrease of 3.57% from $278,230 last month.
  • Average List Price of $273,145 is a decrease of 3.67% from $283,565 in July.
  • Total Under Contract of 1,838 decreased 1.61% since July’s number of 1,868.
  • Total Unit Sales of 1,423 is a decrease of 7.54% since last month’s number of 1,539.
  • The Median Sale Price of $230,000 is a decrease of 1.29% since July’s number of $233,000.
  • New Listings of 1,573 decreased 8.23% from 1,714 in July and decreased 10.37% from August 2018.
  • Total Active Listings of 2,489 is a decrease of 1.43% from July and a decrease of 15.46% from last year.
  • Average Days on Market remained at 36 for the second month in a row.
  • Conventional loan sales of 50.5% exceeded Cash Sales of 20.6%

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

So what does this mean if you are a Buyer or Seller?

Buyers need to be prepared to act fast—when you find a home that checks 7 of your 10 must have’s then make a great offer from the start.

If you’re selling—choose to lead the market and not chase it— this means that even though you know it’s a great sellers market DON’T price your home above the real value in hopes that it’ll come UP UP to your price—you’ll lose market time and buyer confidence in your house–

Leading the market means pricing it spot on from day one and knowing that if you don’t have 10 showings within 3 weeks and no offers then you’re likely overpriced. 

If you’d like to learn an accurate value of your home even if you’re not considering selling please don’t hesitate to contact us for a complimentary Home Equity Update. There’s never any obligation when you do—we’ll come out and share an accurate value and suggest the top 3 things you can to boost your homes value too.