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Tucson Real Estate Housing Market-May 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 May 2019.

Here are 10 Key Statistics: May 2019 Tucson Housing Report

  • Total Sales Volume of $463,248,158 is up from $400,498,076 in April, a 15.67% increase.
  • The Average Sales Price of $277,228 is an increase of 6.39% from $260,571 last month.
  • Average List Price of $282,609 is an increase of 6.23% from $266,033 in April.
  • Total Under Contract of 2,134 decreased .28% since April’s number of 2,140.
  • Total Unit Sales of 1,671 is an increase of 8.72% since last month’s number of 1,537.
  • The Median Sale Price of $232,000 increased 6.18% from $218,500 in April.
  • New Listings of 1,795 have decreased 13.12% from 2,066 in April. 
  • Total Active Listings of 2,705 is a decrease of 6.72% from April.
  • Average Days on Market decreased to 37 this month from 41 last month.
  • Conventional loan sales of 49% exceeded Cash Sales of 20.9%

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

So what does it 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.