The Tucson Housing Market May 2016
Tucson Housing Market May 2016 Update From TARMLS
Tucson Housing Market May 2016
The Tucson Housing Market May 2016 report presents some interesting data. The average sales price for a Tucson home DECREASED 3.15 % from April to $214,290. For the first time in many months the year over year average src=”https://www.premiertucsonhomes.com/wp-content/uploads/2012/06/Market-Report.jpg” alt=”Tucson Housing Market ” width=”179″ height=”140″ />
src=”https://www.premiertucsonhomes.com/wp-content/uploads/2012/06/Market-Report.jpg” alt=”Tucson Housing Market ” width=”179″ height=”140″ />sales also fell. DROPPING 1.03%.
The median sales prices INCREASED 1.70% in May. Year over Year the median sales price was UP 4.53%.
May’s Active Listings continued a downward trend DECLINING 2.59% from April levels. Year over Year active listings were DOWN 16.04%. Homes under contract at the end of May DECLINED 4.53% month to month.
Days On Market DECREASED 2 days to 55 days in May. The average list price for a Tucson home DECLINED 4.42% to $217,902.
Tucson Housing Market May 2016 Mortgage Update
Mortgage rates remain well under 4.00% in the Tucson AZ housing market. The FED continues to push any further rate increases will be later into 2016. But last months jobs report may suggest any increase may be on hold until stronger economic gains are realized.
The May sales price decline from April, increased unit sales and fewer days on market may signal buyers are the market drivers right now.
California buyers looking for a lower tax burden are headed in our direction. Will demand meet our lower inventory of homes and start moving prices up? We will just have to wait and see.
And now the Tucson Housing Market May 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.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!