Update On The Tucson Housing Market January 2015
Tucson Housing Market January 2015 Update From Tucson MLS
Tucson Housing Market January 2015
The Tucson Housing Market January 2015 saw the average sales price for homes closed in January decrease by 4.94% to $194,878. The median sales price fell by 2.88% to $160,250.
Unit Sales in January dropped a whopping 25.19% from December to 805 units.
Active listings in the Tucson MLS moved up 4.05% to 5,803. New listings jumped by 64.35% and Total Sales Transactions Under Contract) also moved by 35.28% to 1,764. There will be some happy agents in February and March.
January’s average listing prices decrease 4.90% to $201,687. The increase in active listings, may signal listing and selling price may continue to decline during the first quarter of 2015.
January’s percentage of cash buyer transactions rose to 34.8% of sales. Conventional loan purchases fell slightly to 37.5% 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 now, “the rest of the story” on the Tucson Housing Market January 2015
Tucson Housing Market JANUARY 2015 SALES:
Median Sales Price: January dropped 2.88% from December to $160,250. This January 2015 median price was up 1.91% year over year.
Under Contract: January 2015 saw a jump of 35.28% from December 2014 to 1,764 transactions waiting to close. It looks as if Christmas shoppers were buying some big ticket items this year. Comparing year of year data, January 2015 transactions under contract declined 2.22% from January 2014.
Total Unit Sales: Unit Sales plunged in January to 805, a 25.19% decrease. Year over year January 2015 was off 5.74%.
Average Sales Price: January’s Average Sales Price decreased by 4.94% from December and was under $200,000 at $194,878. The year over year Average Sale Price fell 1.21%. January 2014 average sales price also started the year under $200,000.
Tucson Housing Market JANUARY 2015 LISTINGS:
Average List Price: January saw the average list price fall by 4.90% to $201,687. Year to year the Average List Price fell slightly by .68%.
Average Days on Market: Tucson Housing Market January 2015 DOM jumped to 70 days from 61 days in December.
New Listings: Skyrocketed up by 64.35% to 2,416 at the end of 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 5.95% over January 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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