26 Good TARMLS Statistics

26 Good TARMLS Statistics

The Tuscon Housing Market is one of the hottest markets in the United States right now. There are some amazing homes available in this Arizona community that can be had for an affordable price. If you love the idea of having a lot of golf and a lot of sunshine in your life, then a move to Tuscon might be in order.

Statistics on TARMLS

1. Total Sales Volume in Tuscon fell, going from $223,081,453 in October 2014 to $189,711,618 in November 2014, a 14.96% decrease.
2. Distressed inventory is drying up so sellers are looking at the best profits in years, but the overall distressed rates have remained steady at 9% since 2013.
3. The Tuscon Metro area has seen a 50% reduction of distressed properties since 2013, showing an improvement in overall market conditions.
4. The Average Sales Price decreased by 1.70% while going into Winter 2014.
5. The Average List Price for homes has been consistently above $210,000.
6. Realtors in Tuscon are averaging about 1,000 home sales per month in the city.
7. 3.1%. That’s the median sales price increase that has been seen from 2013 to 2014 in Tuscon.
8. The average time a home is on the market in Tuscon: 2 months.
9. The unemployment rate in Tuscon is comparable to that of the rest of the United States, hovering between 5.9-7.3%.
10. There has been a 6% increase in the amount of luxury homes found in the Tuscon market in 2014 over 2013 numbers.
11. The median price of luxury homes sold in the Tuscon market in November 2014 was $1.05 million.
12. The Tucson Luxury market had 10 new properties under contract in November 2014, down 9% from November 2013.
13. Tuscon metro active inventory numbers are up 9% from 2013, but closings are down 2% in the same amount of time.
14. The average sales price for an undeveloped piece of land in Tuscon: $42,000.
15. Vacant land sales in Tuscon are up 9% from 2013.
16. The family median income in Tuscon is just above $47k which is about $15k less than the US average. The median household income is $36,939.
17. 19.82%. That’s the percentage of households in Tuscon that make less than $15,000 per year.
18. 1 in 4 people in the Tuscon area are employed as a sales representative, administrative support, or some other office position.
19. Future job growth over the next ten years in Tuscon is predicted to be 36.10%.
20. In Tuscon, the sales tax rate is 8.10%. Income tax is 3.36%.
21. Tuscon is the 32nd largest city in the United States and has a total area of 227 miles.
22. Tuscon is considered to be the sunniest city in the United States. 350 out of the 365.25 days per year have sunshine.
23. Tucson is home to more bird species than any other region on the planet except for the Amazon Rainforest.
24. According to the American Lung Association, Tucson has the third cleanest air of all cities nationwide.
25. AARP named Tucson one of ten great places for nature-lovers to retire in 2011.
26. Tuscon has also been recently named as one of the US’s most creative cities.

Why Is It Important to Know TARMLS?

That’s why knowing these TARMLS statistics is so important. The Tuscon Area Realtors MLS listings are filled with some great opportunities to upgrade a home. Lots of new listings are hitting the market every month and the Tuscon area is active, but not frantic, so there are plenty of fair deals that can be had. Whether you’re looking to live near the Catalina Foothills or closer to the Oro Valley, you’ll find that the current market conditions are quite tempting.

Many believe that the city of Tuscon is actually the housing market to get involved in if you’re looking to find a great real estate investment. Not only is it one of the places where folks from the colder climates go when the weather is frightful, but the beautiful scenery and higher overall temperatures make year-round outdoor activities a real possibility. Winter usually drives in higher sales, so if you’re looking to snag the best deal in this city, then wait for the summer.

There’s a lot of attractive qualities that can be found in Tuscon. As you can see from the statistics below, many of the trends being seen are quite positive.

Understanding the Community

Living in Tucson can sometimes be a challenge. The community is somewhat isolated and it is located in a desert environment. There are some advantages that cannot be overlooked, however, especially if outdoor activities are a priority. There are 630 miles of striped bike paths in the city and another 72 miles of shared used trails. There are also 300 miles of mountain biking trails to enjoy. If you love to get out on a bicycle, then there are plenty of miles to enjoy and plenty of sunshine available with which to enjoy them.

The housing market generally sees about 13,000 different units sold every year. The median price hasn’t varied much since 2011, where the annual average sales price was $163k. That’s good news for someone who is looking to move into town since it means their investments are going to be protected. With the University of Arizona a top employer and military options available as well, there are some good paying jobs and decent homes that are within a household’s price range.

After the Great Recession in 2008-2009, most banks are keeping to a strict 43% debt-to-income ratio when it comes to home lending. Many home owners are going to need 5-10% down to take advantage of these TARMLS statistics as well. If those conditions can be met, then some amazing deals can be found. The housing market in Tuscon is strong, stable, and consistent. With over half a million people in the area and strong job growth on the horizon, now is the time to invest into this amazing community.