Update On The Tucson Housing Market April 2015
Tucson Housing Market Update From Tucson MLS For April 2015
Tucson Housing Market April 2015
The Tucson Housing Market saw the average sales price for homes closed in April INCREASED by 0.99% to $210,749. However, the median sales price DECREASED by 2.62% to $167,500.
Unit Sales in April INCREASED by 8.47% to 1,383 units which is now back over the 1,000 units/month level and rising.
Active listings in Tucson MLS service DECREASED by 4.09% to 5,487. New listings also DECREASED and fell by 10.52% to 2,161. Total Sales Transactions (Under Contract) INCREASED by 1.83% to 2,336.
April’s average listing price INCREASED by 1.79% to $217,737.
April’s percentage of cash buyer transactions fell to 27.1%% of sales. Conventional loan purchases INCREASED to 37.5% of sales transactions.
Interest rates continue to be attractive at under 4.0% for a 30 Year Fix Rate. Additionally, updated regulations by Fannie and Freddie have reduced down payment percentages. Hopefully, these steps may stimulate mortgage lending in 2015 and April’s results may be indicating they are right.
And now, “the rest of the story” on the Tucson Real Estate Market April 2015
Tucson Housing Market April 2015 SALES:
Median Sales Price: April declined by 2.62%% from March to $167,500. The April 2015 median price was up 1.58% year over year.
Under Contract: April 2015 saw an increase of 1.83% from March to 2,336 transactions waiting to close. Comparing year of year data, April 2015 transactions under contract was 9.83% higher from April 2014 at 2,127 contracts waiting to close.
Total Unit Sales: Unit Sales rose to 1,383, a 8.47% increase over March. Year over year April 2015 unit sales were up 6.30%.
Average Sales Price: April’s Average Sales Price increased by 0.99% over March to $210,749. The year over year Average Sale Price rose 6.94%.
Tucson Housing Market April 2015 LISTINGS:
Average List Price: April saw the average list price increase by 1.79% to $217,737. Year to year the Average List Price increased by 7.13%.
Average Days on Market: Tucson Housing Market April 2015 DOM was 66 days down from 68 days in March.
New Listings: Dropped 10.52% to 2,161 suggesting new listings are leveling off for the summer. This was an increase of 6.93% from April 2014.
Active Listings: Stand at 5,487 dropping 4.09% from March levels. The Year over year data shows active listings about flat with a slight decrease of .38% over April 2014.
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 you and your realtor think is reasonable.
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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