The Tucson Housing Market May 2017
Tucson Housing Market May 2017 Update From TARMLS
Tucson Housing Market May 2017
The Tucson Housing Market May 2017 report shows the average sales price INCREASING 3.12% to $240,249. This is UP 12.71% from May 2016. Also, the May 2017 average sales price stands at 81.9% of the June 2007 all-time high average sales price.
The Median Sales Price for a Tucson home INCREASED 2.63% to $195,000. Since December 2016, the Tucson Home Median Sales Price has INCREASED 8.9%. Year over year, the May 2017 median sales price is UP 8.94%.
Tucson’s average list price of a home INCREASED 2.63% to $245,591.
May’s Active Listings decreased 4.88% to 3,589. Active Listings remain stuck below 4,000 for another month. Active Listings under 5,000 means the Tucson Real Estate market continues to be very “tight”. Year over Year active listings is
Active Listings under 5,000 means the Tucson Real Estate market continues to be very “tight”. Year over Year active listings is DOWN 18.58%.
Homes under contract at the end of May DECREASED 0.71% to 2,378.
Days On Market INCREASED to 46 days in May. Buyers continue to pounce on well-priced homes. Days on Market for May 2016 were at 56 days.
As jobs are created in Tucson the demand for homes should increase. Not to mention the continued flow of baby boomers that see Tucson as a great place to retire. The low home inventory may mean buyers will need to increase their offer prices in the coming months.
The low home inventory may mean buyers will need to increase their offer prices in the coming months.
Tucson Housing Market May 2017 Mortgage Update
Mortgage rates are around 4.00% for a 30-year conventional loan. And the latest thinking is that the FED will raise rates in June. But a 4.25% mortgage rate isn’t bad when the median price of a Tucson home is increasing 7% to 8%.
Tucson has been identified as one of the Top 10 housing markets for 2017 and 2018.
And now the Tucson Housing Market May 2017 Report
Considering A Home Tucson?
Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor team, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.
For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home. Review our profiles. Check out our backgrounds, education, and certifications.
We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!
When submitting an offer
Given current inventory levels, low ball offers aren’t getting 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.
Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541. We are ready to answer your questions and help you get the information you are looking for.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!