The Tucson Housing Market February 2016
Tucson Housing Market February 2016 Update From TARMLS
Tucson Housing Market February 2016
The Tucson Housing Market February report indicates the Average Tucson Sales price DECREASED 4.80% from January 2016 to $206,128. Year of year the February average sales price was down 1.56%. Median Month over Month and Year to Year also declined, but not as dramatically.
Active Listings decreased slightly by -0.33% to 5,078 units. Units under contract at the end of February INCREASED by over 20% from January.
Days On Market decreased 1 day – to 65 days. Average list price for a Tucson home DECREASED just under 5.0% to $212,063.
Mortgage rates remain under4.00% in the Tucson AZ housing market. The FED is now suggesting the next interest rate increase may be pushed later into 2016. Home price gains continue to offset the low mortgage rates year over year.
And now the Tucson Housing Market February 2016 Report
When submitting an offer
Given current inventory levels, low ball offers aren’t getting a lot of 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.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!