Tucson Housing Market July 2019 Report

The Tucson Housing Market July 2019

A Market Update From Ben & Kim Boldt – Premier Tucson Homes

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Tucson Housing Market July 2019 – A Quick Video Update

By The Numbers

The Trends

The Tucson Housing Market July 2019 report shows the average sales price DECREASED 1.77% to $278,230. A slight pull back after a strong first half of 2019 that gained over 10% since December 2018. Year over Year July 2019 is up 9.57% from 2018.

The July 2019 average sales price stands at 94.8% of the June 2007 peak average sales price of $293,443. Will we reach the old peak this year? It is looking as if we will. But lets wait and see.

Median Sales Prices

The Median Sales Price for a Tucson home INCREASED 0.43% in July to $233,000. The Median Sales Price has INCREASED 13.6% since December 2018. And Year over year, the July 2019 median sales price is UP 8.37%.

The Median Sales Price of a Tucson home now stands at 103.6% of the June 2007 peak median sales price of $225,000. A long 12 years, but “for the market as a whole” the Median Sale Price has set a new high for Tucson Homes.

Listing Prices

The Tucson Housing Market July 2019 report shows Tucson’s Average List Price of a home INCREASED 0.68% to $284,524. Another month over month gain. Buyers who didn’t pull the trigger in March or April are paying more today.

But the more important question is “What is the average list price by area of Tucson?”

And the answer is!

The North area continues to have the highest average list price in the Tucson Real Estate Market.

Active Listings

Listings DECREASED 5.75% to 2,525. Active Listings remain below 4,000 for another month and have set another all time low. At this level the Tucson Real Estate market is now in the “no one can believe it tight” catagory.


Year over Year active listings ARE DOWN 14.9%.

Average Days On Market (DOM)

Days On Market FELLTO 36 DAYS in July. Thinking of putting your home on the market? Price it right and sell it – FAST!

The Drivers – Buyer Demand And Low Inventory

The demand for homes in Tucson remains high. And the low level of “active listing” is driving buyers to new construction. New homes are being built across Tucson.

And while prices continue to rise, Tucson is still a good value compared to many areas in the U.S. Hey, the economists are right. Demand with low supply makes prices rise.

Will August see more of the same?  Probably!!

July 2019 Mortgage Update

Mortgage rates are now under 4.00% for a 30-year conventional loan. And down payment requirements have been relaxed a bit. The low rates relative to recent year over year appreciation in Tucson home values makes Tucson an easy choice. And Tucson remains one of the lower cost of living places in the U.S. and Arizona.

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 thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. 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.

Longer term Tucson housing market trends can be found for Tucson Real Estate Trends 2006 to 2012 annual along with summaries of 2013 and 2014 annual data.

Go to the Tucson housing report archives for a look at recent housing reports and trends. Our outlook for 2015 is available in our latest issue of Tucson Realty Review.

Conclusion

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.

Search the Tucson MLS for your dream home in Tucson Arizona using your criteria. Use the Tucson MLS Map to see where the Tucson MLS Areas are located.

Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!

Questions about the Tucson AZ Real Estate Market or Tucson Homes for Sale? Call Us – 520-940-4541 OR our easy CONTACT FORM and we will get right back to you!

Check out our recent Tucson Real Estate Newsletters. Review the economic & financial information for Tucson Arizona – HERE!

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