Multiple Listing Service of Southern Arizona Statistics 2017 YEAR END REVIEW

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1 For Immediate Release: February 23, 2018 CONTACT: Judith Grammond MLSSAZ President (520) Sean Murphy Executive Vice President (520) Randy Rogers CEO, MLSSAZ (520) Multiple Listing Service of Southern Arizona Statistics 2017 YEAR END REVIEW Dear MLS Subscribers: As we view the result of the 2017 statistics, it is important to note that the main market areas surveyed by this statistical report changed in Prior year statistics included the geographic area for Green Valley and Sahuarita. Because of the MLS regionalization efforts, the MLS area boundaries were adjusted and Green Valley and Sahuarita are no longer included in the main market areas for the Tucson Association of REALTORS resulting in a lower number of listings in comparison to previous years proved to be a great year for the Tucson housing market with the highest Total Sales Volume in the last ten years. Listing prices and sales prices have continued to grow towards levels not seen since before the recession. Please continue to read through the following pages to see the Tucson Market Trends. A snapshot of the MLS Year in Review Summary shows total sales volume for 2017 is $3,773,311,675, an increase of 3.31% over The total unit sales and total units listed were a little less than 2016, but much of that was attributed to the change in market area. The average list and sold prices were up. Days on market as well as cumulative days on market saw a significant decrease again this year. All of these factors are indicative of the high demand and low inventory, and point to an economic recovery in Tucson. Average % of list price received on sales continued to increase again this year and continues to be the highest it has been in over 10 years. Lifestyle Opportunities: No matter what area or type of home you are interested in, you have a variety of options. Financial: Multiple financing opportunities are available Talk to a REALTOR! With the complexity of a real estate transaction, you need a REALTOR. We would like to recognize and say thank you to the entire MLSSAZ staff for a job well done. We are grateful for everything they do and we are lucky to have such a great team providing their services to our REALTOR community. As we begin another terrific year, we continue to hope our residential housing market continues to show growth and improvement. On behalf of the Tucson Association of REALTORS and Multiple Listing Service of Southern Arizona, we wish you all continued success in 2018! Judith Grammond 2017 MLSSAZ President The Multiple Listing Service Southern Arizona is a wholly owned subsidiary of the Tucson Association of REALTORS, dedicated to providing a reliable real estate database for members and the public. The Association represents the interests of 5,400 professionals in the real estate industry, and is affiliated with the National Association of REALTORS. REALTOR is a registered collective membership mark which may only be used by professionals who are members and subscribe 1 to its strict code of ethics.

2 2017 MLS Year in Review Summary Total Sales Volume $ 3,522,942,997 $ 2,560,571,338 $ 2,345,672,056 $ 2,234,884,205 $ 2,194,210,104 $ 2,480,670,298 $ 2,836,342,803 $ 2,785,457,970 $ 3,157,057,716 $ 3,652,484,514 $ 3,773,311,675 Total Sales Units 12,939 10,578 11,661 11,802 13,418 14,236 14,819 13,739 15,060 16,842 15,932 Total Units Listed 33,022 26,592 22,170 31,914 29,719 26,661 28,301 29,432 29,723 29,118 25,928 Average List Price $284,014 $254,247 $211,524 $199,197 $171,767 $180,745 $197,584 $209,398 $216,148 $222,659 $242,451 Average Sale Price $272,273 $242,066 $201,155 $189,352 $163,527 $174,253 $191,399 $202,740 $209,631 $216,8667 $236,838 Average DOM /CDOM 67 / / / / / / / / / / / 58 Average % of LP received on Sales 95.87% 95.21% 95.10% 94.59% 95.20% 96.41% 96.86% 96.82% 96.98% 97.39% 97.68% 2

3 2017 All Residential Total Sales Volume by Month and Type $400 $350 $300 $250 $200 $150 $100 $50 $ Jan $679,700 Feb $467,500 Mar $1,438,300 Apr $806,750 May $774,500 Jun $917,265 Jul $486,500 Aug $697,400 Sep $609,500 Oct $485,200 Nov $576,200 Dec $877,300 MSFR $3,817,621 $5,576,595 $6,750,489 $6,776,478 $7,716,206 $6,874,021 $5,982,864 $7,834,980 $6,573,407 $5,148,500 $4,925,500 $7,042,140 CND $5,817,565 $6,105,950 $9,556,090 $8,668,489 $8,668,250 $8,010,702 $6,936,410 $7,359,025 $5,129,401 $6,767,131 $7,529,041 $7,032,850 TH $17,641,215 $17,548,010 $24,454,102 $26,802,541 $21,709,014 $24,458,802 $19,822,480 $20,352,058 $18,486,597 $23,978,665 $19,309,965 $14,596,505 SFR $204,394,188 $234,924,605 $304,939,023 $287,380,437 $336,996,216 $347,843,948 $276,988,818 $292,140,445 $280,169,453 $263,995,404 $265,688,065 $257,275,299 MH 3

4 2017 All Residential Total Sales Volume % of Market by Area S 117,496, % SE 111,327, % SW 164,357, % UNW 162,679, % USE 232,157, % W 270,608, % XNE 2,859, % XW 93,366, % XNW 11,011, % XSE 4,438, % XSW 10,133, % C 470,051, % NW 911,270, % E 317,716, % NE 258,873, % N 634,961, % 4

5 ALL RESIDENTIAL TOTAL SALES UNITS TH TOTAL SALES UNITS MH TOTAL SALES UNITS 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 787 1, ,485 C C E 262 1, ,786 E E N ,681 N N NE NE NE NW 693 1, ,205 NW NW S S S SE SE SE SW ,106 SW SW UNW UNW UNW USE USE USE W ,188 W W XNE XNE XNE XNW XNW XNW XSE XSE XSE XSW XSW XSW XW XW XW TOTALS 3,377 7,766 4, ,932 TOTALS ,376 TOTALS SFR TOTAL SALES UNITS CND TOTAL SALES UNITS MSFR TOTAL SALES UNITS 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 444 1, ,963 C C E ,450 E E N ,083 N N NE NE NE NW 414 1, ,816 NW NW S S S SE SE SE SW SW SW UNW UNW UNW USE USE USE W ,032 W W XNE XNE XNE XNW XNW XNW XSE XSE XSE XSW XSW XSW XW XW XW TOTALS 1,572 6,694 3, ,864 TOTALS TOTALS

6 2017 All Residential Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges 2,485 1,786 1, , ,106 1, , SFR Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , ,, , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges 1,963 1,450 1, , , ,864 6

7 2017 TH Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges , CND Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges

8 2017 MH Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges MSFR Total Unit Sales by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges

9 2017 All RESIDENTIAL Total Unit Sales by Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec SFR TH CND MH MSFR Totals , ,155 1, ,528 1, ,402 1, ,540 1, ,608 1, ,353 1, ,380 1, ,263 1, , , , RESIDENTIAL Total Sales Units by Area SE 1, % USE % SW % S % W 1, % XNE % XNW % XSE % XSW % XW % C 2, % UNW % E 1, % NW 3, % NE % N 1, % 9

10 ALL RESIDENTIAL AVG. SALE PRICE TH AVG. SALE PRICE MH AVG. SALE PRICE 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 140, , , , ,155 C 128, , , ,159 C 33,157 45,416 35,500 38,578 E 107, , , , ,892 E 120, , , ,293 E N 200, , , , ,728 N 231, , , ,161 N NE 130, , , , ,155 NE 145, , , ,620 NE NW 226, , , , ,327 NW 219, , ,422 NW 71,133 58,000 66,755 UNW 295, , , , ,043 UNW 226, , ,079 UNW 77,400 58,000 74,166 S 83, , , , ,842 S 96, ,562 98,790 S 36, ,500 50,900 SE 157, , , , ,662 SE 141, ,625 SE 153, ,265 USE 199, , , , ,109 USE 162, ,833 USE SW 88, , , , ,605 SW 112, , ,893 SW 50,848 84,500 56,934 W 145, , , , ,785 W 124, , , ,827 W 67,333 67,333 XNE 171, , , ,325 XNE XNE XNW 123, , , , ,097 XNW XNW 118, ,000 XSE 322, , , ,456 XSE XSE XSW 52, , , ,583 97,438 XSW 140, ,000 XSW 33,500 63,000 55,000 49,600 XW 101, , , , ,244 XW XW 45,771 84,833 87,500 All Areas 171, , , , ,838 All Areas 173, , , ,075 All Areas 50,471 73,375 95,377 57,621 SFR AVG. SALE PRICE CND AVG. SALE PRICE MSFR AVG. SALE PRICE 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 165, , , , ,952 C 94, , ,000 98,700 C 73,928 85, ,416 86,242 E 152, , , , ,244 E 69, ,208 73,487 E 89, , ,966 N 361, , , , ,621 N 132, ,868 70, ,210 N 175, , ,500 NE 253, , , , ,398 NE 61,586 47,933 61,001 NE NW 251, , , , ,603 NW 140, , ,913 NW 78,462 99,953 95, ,500 95,675 UNW 312, , , , ,270 UNW UNW 98, , , , ,117 S 87, , , , ,244 S S 56,333 90, , ,475 93,814 SE 168, , , , ,823 SE SE 152, , , , ,856 USE 208, , , , ,450 USE USE 79, , , , ,342 SW 146, , , , ,036 SW 36,000 36,000 SW 86, , , ,000 99,130 W 174, , , , ,443 W 76, ,316 82,263 W 55, , ,305 XNE 171, , , ,325 XNE XNE XNW 123, , , , ,627 XNW XNW XSE 322, , , ,827 XSE XSE 133, ,000 XSW 62, , , , ,213 XSW XSW 36,000 74,452 75, ,100 74,738 XW 175, , , , ,392 XW XW 61,560 98, ,896 86,500 99,133 All Areas 214, , , , ,629 All Areas 104, , , ,931 All Areas 78, , , , ,066 10

11 ALL RESIDENTIAL AVG. LIST PRICE TH AVG. LIST PRICE MH AVG. LIST PRICE 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 144, , , , ,055 C 130, , , ,786 C 38,728 49,916 26,000 42,614 E 109, , , , ,550 E 122, , , ,311 E N 205, , , , ,521 N 236, , , ,985 N NE 135, , , , ,563 NE 148, , , ,214 NE NW 231, , , , ,939 NW 223, , ,030 NW 77,983 59,633 71,866 UNW 304, , , , ,672 UNW 97, , ,306 UNW 87,540 75,000 85,450 S 86, , , , ,543 S 148, ,337 S 38, ,900 52,712 SE 161, , , , ,159 SE 160, ,966 SE 164, ,900 USE 203, , , , ,681 USE 116, , ,164 USE SW 93, , , , ,661 SW 234, , ,066 SW 55,188 92,782 61,987 W 149, , , , ,483 W 128, , , ,091 W 74,333 74,333 XNE 186, , , ,908 XNE XNE XNW 125, , , , ,583 XNW XNW 120, ,000 XSE 335, , , ,873 XSE XSE XSW 54, , , , ,835 XSW 140, ,000 XSW 32,750 67,450 55,000 51,080 XW 107, , , , ,135 XW XW 47,171 89, ,700 67,375 All Areas 175, , , , ,451 All Areas 177, , , ,480 All Areas 54,898 79, ,866 62,591 SFR AVG. LIST PRICE CND AVG. LIST PRICE MSFR AVG. LIST PRICE 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C 170, , , , ,193 C 98, , , ,509 C 79,599 88, ,900 88,746 E 154, , , , ,972 E 71, ,850 76,367 E 89, , ,366 N 374, , , , ,518 N 135, ,372 75, ,773 N 179, , ,000 NE 265, , , , ,105 NE 63,960 50,266 63,373 NE NW 256, , , , ,534 NW 144, , ,865 NW 79, ,343 99, ,750 98,365 UNW 321, , , , ,284 UNW UNW 104, , , , ,450 S 90, , , , ,893 S S 57,633 92, , ,950 96,186 SE 172, , , , ,146 SE SE 150, , ,086 99, ,035 USE 213, , , , ,983 USE USE 82, , , , ,200 SW 151, , , , ,643 SW 40,000 40,000 SW 91, , , , ,183 W 178, , , , ,402 W 77, ,466 84,171 W 58, , ,894 XNE 186, , , ,908 XNE XNE XNW 125, , , , ,120 XNW XNW XSE 335, , , ,779 XSE XSE 135, ,000 XSW 63, , , , ,797 XSW XSW 40,280 76,856 77, ,460 77,330 XW 187, , , , ,328 XW XW 64, , ,017 92, ,883 All Areas 220, , , , ,629 All Areas 107, , , ,314 All Areas 82, , , , ,734 11

12 ALL RESIDENTIAL AVG. DOM TH AVG. DOM MH AVG. DOM 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C C C E E E N N N NE NE NE NW NW NW UNW UNW UNW S S S SE SE SE USE USE USE SW SW SW W W W XNE XNE XNE XNW XNW XNW XSE XSE XSE XSW XSW 6 6 XSW XW XW XW All Areas All Areas All Areas SFR AVG. DOM CND AVG. DOM MSFR AVG. DOM 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR 02 BR 3 BR 4 BR 5+ BR ALL BR C C C E E E N N N NE NE NE NW NW NW UNW UNW UNW S S S SE SE SE USE USE USE SW SW SW W W W XNE XNE XNE XNW XNW XNW XSE XSE XSE 6 6 XSW XSW XSW XW XW XW All Areas All Areas All Areas

13 2017 Residential Avg. DOM by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges SFR Avg. DOM by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges

14 2017 TH Avg. DOM by Price and Area 29,999 or under 30,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , ,999 1,000,000 + ALL Price Ranges CND Avg. DOM by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , ,999 1,000,000 + ALL Price Ranges

15 2017 MH Avg. DOM by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , ,999 1,000,000 + ALL Price Ranges MSFR Avg. DOM by Price and Area 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , ,999 1,000,000 + ALL Price Ranges

16 All RESIDENTIAL Avg. % SP/LP C E N NE NW UNW S SE USE SW W XNE XNW XSE XSW XW All Areas SFR TH CND MH MSFR 97.54% 98.62% 96.58% 97.63% 97.72% 98.8% 99.04% 98.5% 96.98% 98.57% 98.02% 93.49% 98.42% 97.57% 94.39% 98.33% 97.75% 97.58% 98.39% 97.35% 97.29% 97.92% 98.49% 95.47% 97.18% 96.59% % 97.53% 96.28% 96.23% 97.43% 96.26% 97.45% 90.53% 97.18% 96.13% 95.41% 92.89% 96.56% 92.94% 91.85% 86.8% 97.27% 97.53% 97.65% 96.07% 95.68% 96.18% 96.64% 90% 97.73% 98.33% 100% 97.63% 6190 Days 1, % 97.1% 92.75% 92.06% 96.99% All RESIDENTIAL Days on Market Days % 90.58% 98.52% 96.65% 96.36% 96.53% Total Listings by Area Days % 181+ Days % 3160 Days 2, % SE % S % USE % SW 1, % W 1, % XNE XNW XSE XSW % 0.45% 0.08% 0.65% XW % E 1, % UNW % 030 Days 9, % C 2, % NW 3, % NE % N 1, % 16

17 ALL RESIDENTIAL Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C 1,152 2, ,962 E 350 1, ,635 N 786 1, ,082 NE ,508 NW 1,027 2,335 1, ,332 UNW S ,337 SE USE ,511 SW ,713 W ,845 XNE XNW XSE XSW XW Total 5,076 12,106 7,107 1,639 25,928 SFR Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C 663 1, ,201 E 65 1, ,193 N ,141 NE ,201 NW 606 2,177 1, ,743 UNW S ,173 SE USE ,451 SW ,242 W ,644 XNE XNW XSE XSW XW Total 2,417 10,449 6,835 1,603 21,304 TH Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C E N NE NW UNW S SE USE 4 4 SW W XNE XNW XSE XSW 1 1 XW Total 1, ,975 CND Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C E N NE NW UNW S 1 1 SE USE SW 5 5 W XNE XNW XSE XSW XW Total 1, ,203 MH Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C E 1 1 N NE NW UNW S SE USE SW W XNE XNW 1 1 XSE XSW XW Total MSFR Total Listings 02 BR 3 BR 4 BR 5+ BR ALL BR C E N NE NW UNW S SE USE SW W XNE 2 2 XNW 2 2 XSE XSW XW Total ,179 17

18 2017 All RESIDENTIAL Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges 3,962 2,635 3,082 1,508 5, , ,511 1,713 1, , All SFR Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges 3,201 2,193 2,141 1, ,743 1, ,451 1,242 1, ,304 18

19 2017 All TH Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges , All CND Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges ,203 19

20 2017 All MH Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges All MSFR Total Listings by Price and Area (1/1/17 12/31/2017) 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges ,179 20

21 2017 All RESIDENTIAL Expired Listings 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges , All RESIDENTIAL Cancelled Listings 29,999 or under ,000 39, ,000 49, ,000 59, ,000 69, ,000 79, ,000 89, ,000 99, , , , , , , , , , , , , , , , , , , , , , , ,000, ALL Price Ranges ,278 21

22 2017 Sold Properties Keysafe Analysis All Residential Keysafe = NO 2, % Keysafe = YES 13, % 2017 All Residential Terms of Sale by Terms and Type 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Cash MH 126 Cash Owner 16 Cash/Loan Convention Exchange FHA Lease Opt Lease Prch Other VA MSFR CND TH SFR 2, , , ,624 22