Update On The Tucson Housing Market February 2015
Tucson Housing Market Update From Tucson MLS For February 2015
Tucson Housing Market February 2015
The Tucson Housing Market February 2015 saw the average sales price for homes closed in February INCREASE by 7.46% to $209,408. The median sales price increased 4.21% to $167,000.
Unit Sales in February jumped 16.15 to 935 units. This may be getting back to the 1,000 units/month.
Active listings in the Tucson MLS moved up .93% to 5,857. New listings declined slightly by 1.20%. Total Sales Transactions (Under Contract) increased by 12.98% to 1,993. There will be some happy agents in March.
February’s average listing prices INCREASED 7.24% to $216,281.
February’s percentage of cash buyer transactions fell slightly to 33.7% of sales. Conventional loan purchases fell slightly 36.7% of sales.
Some real estate reporters believe the recently passed Federal budget bill containing provisions to “relax” some the the Dodd-Frank mandates will have a favorable effect on 2015 and 2016. Additionally, updated regulations by Fannie and Freddie have reduced down payment percentages. Hopefully, these steps may stimulate mortgage lending in 2015 and February’s results may be indicating they are right.
And now, “the rest of the story” on the Tucson Real Estate Market February 2015
Tucson Housing Market FEBRUARY 2015 SALES:
Median Sales Price: February rose by 4.21% from January to $167,000. The February 2015 median price was up 5.70% year over year.
Under Contract: February 2015 saw a jump of 12.98% from January to 1,993 transactions waiting to close. Comparing year of year data, February 2015 transactions under contract increased 1.63% from February 2014.
Total Unit Sales: Unit Sales rose to 935, a 16.15 increase. Year over year February 2015 was off 2.71%.
Average Sales Price: February’s Average Sales Price increased by 7.46% over January and was back over $200,000 at $209,403. The year over year Average Sale Price rose 6.52%.
Tucson Housing Market FEBRUARY 2015 LISTINGS:
Average List Price: February saw the average list price rose 7.24% to $216,281. This more that offset January’s decline from December. Year to year the Average List Price increased by 6.65%.
Average Days on Market: Tucson Housing Market February 2015 DOM was 69 days down from 70 days in January.
New Listings: Were down 1.20% to 2,387 after a big jump in January. This was an increase of 5.55% from January 2014.
Active Listings: Stand at 5,803 and increase of 4.05% month to month. The Year over year data shows active listings are up 14.48% over February 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.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!