Tucson Association of Realtors (TAR) has released encouraging housing stats for May 2015. Average Sales Price was increased this month to $216,517 from $210,749 in April, while home sales pushed up 3.11% in May, according to the Tucson Association of REALTORS® Multiple Listing Service.
The Average Selling Price increase of $5,768 compared to April, is $11,956 more than one year ago ($204,561). Increases in the Median Selling Price appear to be leveling off, having risen only 7.03% since January from $160,000 to $171,250 in May.
Total sales volume of $300.5 million increased 3.11% over April ($291.5 million), and year-over year 20.92% higher (+$52 million) than May 2014 ($256.4 million).
The month-over-month, 1,388 home sales increased less than 1% (.36%) higher than April (1,383 homes) a.14.24% increase when compared to May 2014 (1,215 home sales).
In May, the two top performing zip codes for resale homes were near the Tucson International Airport: The top three zip codes of the 1,383 homes sold in April were:
- 85706: The area immediately south of the airport where 37 of 32 listings (115.63%) sold.
- 85741: An area northeast of the airport where 55 of 99 listings (55.56%) sold.
- 85756: A large area south of the airport along I-10 where 22 of 73 listings (30.14%) sold.
Highlights from TAR’s Residential Sales Report:
- * New Listing decreased 2.45% from April.
- * Total Active Listings of 5,250 is a 4.32% increase from April’s number of 5,487.
- * Average Days on Market decreased to 62 days in May from 66 in April.
- * Conventional loan sales accounted for 36.5% continue to exceed Cash Sales of 25.6% in May; while FHA and VA loans combined accounted for the remainder according to TAR’s tracking.
Please refer to the full May sales report for graphs and additional information here
Full Tucson MLS Report: https://www.tucsonrealtors.org/docs/default-ource/Stats/statsmay2015.pdf?sfvrsn=0
Tucson Rental statistics: https://www.tucsonrealtors.org/docs/default-source/Stats/statsrentmay2015.pdf?sfvrsn=0