Tucson Housing Market February 2019 Report
Tucson Housing Market February 2019 Update From Tucson MLS
The Tucson Housing Market February 2019 report shows a small increase in the average sales price and list price. But the median price fell a bit. January has come out of the gate in solid form but February did not continue the pace. Will the year prices regain our 2007 peaks? We will have to wait and see.
Tucson Housing Market – Quick Video Update
Tucson Housing Market February 2019 – And Now The Numbers
Tucson Housing Market February 2019 – The Trends
The Tucson Housing Market February 2019 report shows the average sales price INCREASED 0.21% to $259,466. And February 2019 was UP 3.30% from December 2018. The new year is off to a good start, but February did not maintain the rate of the January gains. Stay tuned to see how the year progresses.
The February 2019 average sales price stands at 88.4% of the June 2007 peak average sales price of $293,443.
The Median Sales Price for a Tucson fell 0.92% from January 2019. But the February 2019 Median Sales Price is still
5.40% from December 2018 coming in at $216,000.
The Median Sales Price of a Tucson home now stands at 96.0% of the June 2007 peak median sales price of $225,000. Will we get back to the 2007 peak? We will have to wait to see what 2019 has in store.
Tucson Housing Market February 2019 – Listing Prices
The Tucson Housing Market February 2019 report shows Tucson’s Average List Price of a home was up sightly. UP just 0.21% from January. At an Average List Price or $265,446.
But the more important question is “What is the average list price by area of Tucson?”
And the answer is!
February Active Listings DECREASED 5.79% to 3,083. Active Listings continue below 4,000. Year over Year active listings ARE DOWN 6.07%.
Tucson Housing Market February 2019 – Average Days On Market (DOM)
Days On Market INCREASED to 48 days in February. This breaks the 45 Days On Market that has lasted for 11 months.
The continued flow of baby boomers appears to be providing steady demand. Perhaps the low number of active listings and return of the “snowbirds” will combine to give continued upward momentum to home prices.
The low active listing inventory is one reason the new home builders are going strong. May builders are increasing their build time to 8 to 10 months.
Tucson Housing Market February 2019 Mortgage Update
Mortgage rates have are back under 4.5% for a 30-year conventional loan. Current rates remain lower than year over year appreciation in home values.
Tucson has been identified as one of the Top 10 housing markets for 2017 and 2018. December’s data appears to be confirming Tucson is a top pick for cities to live in.
Considering A Home Tucson?
Are you planning to buy a home in the greater Tucson area? Finding the right home can be a challenge. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor team, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.
For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home. Review our profiles. Check out our backgrounds, education, and certifications.
We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!
When submitting an offer
Given current inventory levels, low ball offers aren’t getting 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.
Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541. We are ready to answer your questions and help you get the information you are looking for.
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