Tucson Housing Market – Tucson Real Estate Market – October 2013
Tucson Housing Market Report – October 2013 Tucson MLS Statistics
Tucson Housing Market Report – October 2013 Total Sales Volume increased by 9.45% from September. Year over year increase in the Tucson Housing Market suggests continued improvement. However, the recent month to month data has been choppy. Cash buyers, usually considered to be investors looking for “steals”, have declined. In October cash buyers accounted for 32% of sales. This is up from 29.2% in September.
Review the Tucson Real Estate Trends 2006 to 2012 annual data.
October 2013 Active Listings ( inventory of homes for sale ) increased to 5,173 units. That is an 9.67% increase from September. Year over year Active Listings increased 23.31% from October 2012.
A consideration in the active listing increase is the beginning of the “snowbird” season. Sellers may have been holding off and now feel the time is right to sell their home.
Here is “the rest of the story” for October 2013 -
Median Sales Price: October’s median sale price was $155,000, a decrease of just .26% from September. The October 2013 median price was up 8.39% over October 2012. This continues the strong year to year increase trend and the market improvement for Sellers.
Sales Volume: October Sales Volume was $217,449,776 an increase of 9.45% from September. Total Sales volume increased by 15.14% year over year. Unit Sales increased by 7.52% from September levels.
Under Contract: October Pending Sales were off 5.19%%. October’s 1,771 units under contract was down 25.08% from October 2012.
Total Unit Sales: October Unit Sales increased 7.52% to 1,130 from September. Year over year unit sales were up 5.21%.
Average Sales Price: October’s average sales price $192,433. This is an increase of 1.79% from September. The Average Sale Price for October year over year was up 9.43%. The year over year upward trend continues!
Cash Sales: October cash sales were at 32% of all transactions. Conventional loans exceeded cash sale and were around 37% of October sales.
Average List Price: October saw average listing prices increase by 2.41% over September to $199,540. The year to year increase was 10.33% over October 2012. Continued gains year or year continued to suggest the Tucson housing market is recovering.
Average Days on Market: October DOM increased to 50 days. Average Days on Market has been stable just under the 50 day mark.
New Listings: October saw increase by 6.06% from September to 2,136. Compared to October 2012 this is up 10.67%
Active Listings: October Active Listings were 5,173 for a 9.67% increase. Year over year, October 2013 is up 23.31% from October 2012.
If you “really” want the home, make a “reasonable” offer. We work with our buyers to present an offer – THEY – feel good about. Some low ball offers are getting the job done. Some aren’t.
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 at a price you would feel is reasonable to you and hopefully the seller.
We will work with you to understand you objectives and analyze the market to determine – as best we can – a price range for the home you want to buy or sell.
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