Update On The Tucson Housing Market December 2014
Tucson Housing Market Update From Tucson MLS For December 2014
Tucson Housing Market December 2014
The Tucson Housing Market December 2014 saw the average sales price for homes sold decrease by .90% to $205,015. The median sales price was unchanged at $165,000.
Tucson Housing Market December 2014 month over month unit sales increased 17.34% to 1,076 sales in December.
Active listings for the Tucson Housing Market December 2014 decreased 4.18% to 5,577. New listings declined by 18.74% and Total Sales Pending (Under Contract) fell 10.99% to 1,304.
The Tucson Housing Market December 2014 decline in active listings is a break in the recent upward trend. December’s average listing prices decrease by .52% to $212,078. The decline in active listings, may signal home price will be increasing during the first quarter of 2015.
Tucson Housing Market December 2014 percentage of cash buyer transactions rose to 28.7% of sales. Conventional loan purchases moved up to 39.9% of sales.
Critics continue to suggest that current Fed policies (Dodd-Frank) are holding the real estate market hostage. The recently passed Federal budget bill contained provisions to “relax” some the the Dodd-Frank mandates. Additionally, updated regulations by Fannie and Freddie have reduced down payment percentages. These steps may stimulate mortgage lending in 2015.
Review the Tucson Real Estate Trends 2006 to 2012 annual data.
And now, “the rest of the story” on the Tucson Real Estate Market December 2014
Tucson Housing Market DECEMBER 2014 SALES:
Median Sales Price: Remained at the November value of $165,000. The December 2014 median price was up 3.66% year over year.
Under Contract: Pending Sales at the end of December were down 10.99% from November at 1,304 transactions waiting to close. Comparing year of year data, December 2014 units under contract declined 13.41% from December 2013.
Total Unit Sales: Unit Sales rose in December to 1,076, a 17.34% increase. December 2014 over 2013 unit sales increased by 3.66%.
Average Sales Price: December’s Average Sales Price decreased by 0.90% from November to $205,015. The year over year Average Sale Price was up 1.32% from December 2013.
Tucson Housing Market DECEMBER 2014 LISTINGS:
Average List Price: December saw the average list price of $212,078. That is a decrease of 0.52% month over month. Year to year the Average List Price continued in an uptrend with a modest increase of 1.56% over December 2013.
Average Days on Market: December DOM increased to 61 days from 58 days in November.
New Listings: Declined 18.74% to 1,470 at the end of December. This was an increase of 6.06% from December 2013.
Active Listings: Stand at 5,577, declining of 4.18% from November. Year over year, December 2014 active listings are up 8.29% over December2013.
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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