Tucson Housing Market March 2015

Update On The Tucson Housing Market March 2015

Tucson Housing Market Update From Tucson MLS For March 2015


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Tucson Housing Market March 2015

The Tucson Housing Market March 2015 saw the average sales price for homes closed in March DECREASE slightly by -.35% to $208,673 The median sales price rose 2.99% to $172,000.

Unit Sales in March rocketed up by 36.36% to 1,275 units which is now back over the 1,000 units/month level.

Active listings in the Tucson MLS moved down 2.32%% to 5,721. New listings increased slightly by 1.17% to 2,415. Total Sales Transactions (Under Contract) increased by 15.10% to 2,294.

March’s average listing prices DECLINED by 1.10% to $213,907.

March’s percentage of cash buyer transactions fell to 32.0%% of sales. Conventional loan purchases fell slightly to 35.6% of sales.

Interest rates continue to be attractive at under 4.0% for a 30 Year Fix Rate. Additionally, updated regulations by Fannie and Freddie have reduced down payment percentages. Hopefully, these steps may stimulate mortgage lending in 2015 and March’s results may be indicating they are right.

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

And now, “the rest of the story” on the Tucson Real Estate Market March 2015

Tucson Housing Market March 2015 SALES:

Median Sales Price: March rose 2.99%% from February to $172,000. The March 2015 median price was up 6.17% year over year.

Under Contract: March 2015 saw a jump of 15.10% from February to 2,294 transactions waiting to close. Comparing year of year data, March 2015 transactions under contract was 5.57% higher from March 2014 at 2,173 contracts waiting to close.

Total Unit Sales: Unit Sales rose to 1,275, a 36.36% increase over February. Year over year March 2015 unit sales were up 12.73%.

Average Sales Price: March’s Average Sales Price declined slightly by just .35% over February at $208,673. The year over year Average Sale Price rose 4.09%.

Tucson Housing Market March 2015 LISTINGS:

Average List Price: March saw the average list price decrease by 1.10% to $213,907. Year to year the Average List Price increased by 3.21%.

Average Days on Market: Tucson Housing Market March 2015 DOM was 68 days down from 69 days in January.

New Listings: Up just 1.17% to 2,415 after a big jump in January this new listings appear to be leveling off. This was an increase of 13.59% from March 2014.

Active Listings: Stand at 5,721 and off 2.32% month to month. The Year over year data shows active listings about flat with a slight decrease of .28% over March 2014.

Go to the Tucson housing report archives for a look at recent housing reports. Our outlook for 2014 is available in our latest issue of Tucson Realty Review.

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.

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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