Tucson 2017 Housing Market increases Three Percent
The number of homes for sale in Tucson under $250,000 has a low inventory. With so few homes available for sale, homes listed for sale often get multiple offers. Tucson home prices are still affordable.
The National Association of Realtors reported the National median sales price for existing homes was $233,800 in 2016, up 4.9 percent in real terms from 2015.
In the Tucson Main Market area, September 2017 active inventory was 3,850, a 4% decrease from September 2016. There were 1,318 closings in September 2017, a 7% decrease from September 2016. Year-to-date 2017 there were 13,388 closings, a 4% increase from year-to-date 2016. Months of Inventory was 2.9, up from 2.8 in September 2016. Median price of sold homes was $204,000 for the month of September 2017, up 16% from September 2016. The Tucson Main Market area had 1,440 new properties under contract in September 2017, up 10% from September 2016.
- 19.8% of sales were from homes between $100,000 and $159,000
- The Largest number of actively listed homes is in the $200,00 to $399,000 price range
Oro Valley August 2017 Homes Sales
In the Oro Valley area, September 2017 active inventory was 248, a 7% decrease from September 2016. There were 64 closings in September 2017, a 3% decrease from September 2016. Year-to-date 2017 there were 713 closings, a 1% increase from year-to-date 2016. Months of Inventory was 3.9, down from 4.0 in September 2016. Median price of sold homes was $339,950 for the month of September 2017, up 19% from September 2016. The Oro Valley area had 73 new properties under contract in September 2017, down 14% from September 2016.
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Tucson Luxury Home Sales
In the Tucson Luxury market, September 2017 active inventory was 281, a 7% increase from September 2016. There were 12 closings in September 2017, a 140% increase from September 2016. Year-to-date 2017 there were 134 closings, a 2% increase from year-to-date 2016. Months of Inventory was 23.4, down from 52.6 in September 2016. Median price of sold homes was $992,500 for the month of September 2017, up 5% from September 2016. The Tucson Luxury area had 24 new properties under contract in September 2017, up 71% from September 2016.
- 6 Homes Sold for more than $1,000,000 in September
- The Average Home Price in August 2017 was $247,649.
- Pending Sales Increased 19.28% from August 2017 to September 2017.
- The Average Sales Price for a home in Tucson increased 3.72% from last month.
- The Median Sales Price rose to $206,915 from $192,000 in August, a 7.77% increase and is up 16.90% from $177,000 in September 2016.
- Average Days on Market decreased to 42 this month from 45 last month.
- Conventional loan sales of 45.8% exceeded Cash Sales of 21.6%.
