The Tucson Housing Market October 2017
Tucson Housing Market October 2017 Update From MLSSAZ
Tucson Housing Market October 2017 – Behind The Numbers
The Tucson Housing Market October 2017 report shows the average sales price DECREASED 3.75% to $238,358. But was UP 8.23% from October 2016.
October’s Average Sales Price is UP 3.4% from December 2016. And the October 2017 average sales price stands at 81.2% of the June 2007 peak average sales price.
The Median Sales Price for a Tucson home DECREASED 3.39% to $199,900. Since December 2016, the Tucson Home Median Sales Price has INCREASED 11.7%. Year over year, the October 2017 median sales price is UP 12.30%.
The Median Sales Price of a Tucson home now stands at 88.8% of the June 2007 peak median sales price. A long 10 years, but “on average” the Median Sale Price has almost fully recovered.
The Tucson Housing Market October 2017 report shows Tucson’s average list price of a home DECREASED 3.60% to $243,801.
October’s Active Listings INCREASED 2.84% to 3,689. Active Listings continue below 4,000 for yet another month. Active Listings under 5,000 means the Tucson Real Estate market continues to be very “tight”. Year over Year active listings INCREASED less than 1%.
Homes under contract at the end of October INCREASED 0.12 to 1,653. Flat month over month.
Days On Market DECREASED to 40 days in October. Buyers continue to pounce on well-priced homes. Days on Market for October 2016 were at 49 days.
And now for the rest of the story on the Tucson Housing Market October 2017 –
New jobs and the continued flow of baby boomers appear to be providing steady upward pressure on Tucson home prices. The lower number of active listings along with steady demand has resulted in higher October average and median prices
Tucson Housing Market October 2017 Mortgage Update
Mortgage rates continue to hover under 4.00% for a 30-year conventional loan. A 4.00% mortgage rate isn’t bad when the median price of a Tucson home is increasing 7% to 10% per year.
Tucson has been identified as one of the Top 10 housing markets for 2017 and 2018. October’s data appears to be confirming Tucson is a top pick for cities to live in.
And now the Tucson Housing Market October 2017 Report
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.
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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.
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