The Tucson Housing Market January 2016
Tucson Housing Market January 2016 Update From TARMLS
Tucson Housing Market January 2016
The Tucson Housing Market January report indicates the Average Tucson Sales price increased 2.27% from December 2015 to $216,510. Year of year January average sales price was up double digits – 11.10%. Interestingly, the January median sales price declined by 3.47%.
However, active listings reversed a downward trend and increased by 4.23% to 5,095 units. Units under contract jumped 17.52% to 1,892%.
Days On Market increased 7 Days – to 66 days. Average list price for Tucson homes increased 2.38% to $222,790.
Mortgage rates remain around 4.00% in the Tucson AZ housing market. The FED is now suggesting a new rate increased may be pushed later into 2016. Home price gains continue to offset the low mortgage rates year over year. The Tucson market had an 11.10% increase in average sales price January 2016 over 2015.
And now the Tucson Housing Market January 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.
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