Tucson Real Estate November 2016 Market Report
The Tucson Real Estate market has seen a nice 3.88 percent gain with the Median Sales Price increasing to $184,900, from $178,000 in October.
The average days on market for the Tucson area dropped 47 days from 49 days from last month. Depending on the area of town many Sellers in Tucson are experiencing faster sales.
The number of new listings entering the market was down 16.21 percent from last month. This is a great time for sellers to consider to list a property.
According to Frank Nothaft, chief economist for CoreLogic, “Home Equity rose by $12,5000 for the average homeowner over the last 4 quarters”. Read the full article to learn more about the states reporting a higher percentage of equity gain, as well as, the states reporting lower equity gains.
For November 2016, the number of sales for all properties in Tucson occurred between $200,000 to $249,999. The luxury real estate market in Tucson remains highly competitive for home sellers with only 6 sales over $1m in November 2016.