The Tucson Housing Market March 2016
Tucson Housing Market March 2016 Update From TARMLS
Tucson Housing Market March 2016
The Tucson Housing Market had a strong showing over February 2016. The average sales price for a Tucson home Sales price INCREASED 3.33 % from February 2016 to $212,988. Year over year, the average sales price for March was UP 2.07%.
The median sales prices was up even more in March – UP 4.83%. Year to Year the median sales price was UP 2.83%.
Active Listings DECREASED by 5.44% month to month and a whopping DECREASE of 16.06% year over year. Homes under contract at the end of March INCREASED over 11% month to month AND year over year.
Days On Market DROPPED by 8 days – from 65 in February to 57 days in March. The average list price for a Tucson home INCREASED 3.31% to $219,086.
Mortgage rates remain under 4.00% in the Tucson AZ housing market. The FED is now suggesting the next interest rate increase may be pushed later into 2016. Home price gains continue to offset the low mortgage rates year over year and make owning a home in Tucson AZ attractive.
And now the Tucson Housing Market March 2016 Report
When submitting an offer
Given current inventory levels, low ball offers aren’t getting a lot of traction. So, if you “really” want the home, make a “reasonable” offer.
You have to ask yourself, “will I feel bad if I don’t get this house?” If the answer is no, then put in an offer you would feel is a steal and see what happens. If the answer is yes, put in an offer you and your Realtor think is reasonable.
We will work with you to understand your objectives and analyze the market to determine – as best we can – a price range for the home you want to buy or sell.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!
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