The Tucson Arizona Real Estate Market Report – July 2021 is a big change compared to last years Real Estate Market Report. Home prices are climbing and if you price the house right, you could have it sold in less than a week! What does this information mean to you as a Buyer or a Seller? Below are the stats and charts that show the Tucson Arizona Market Report comparison from this year to last year. (View our YOUTUBE channel for more information on this topic and others).
What does this mean if you are a BUYER:
Buyers looking for homes under $250,000 still face heavy competition. In most area’s across Tucson this price point sells in less 3 weeks which means you can’t wait around when the right home comes along.
What does this mean if you are a SELLER:
As a seller in the popular $250,000 and under category you should price right from day one. It’s the most critical step toward a fast sale for top dollar. Sellers in the over $400,000 price range are experiencing a slower sales cycle and should take notice. You’re competing against more housing inventory so know your competition before setting the price. Remember that you’re entering a competition. What will you do to win?
Here are 7 Key Statistics: Tucson Arizona Real Estate Market Report - July 2021
- The Average Sales Price of $368,991 is an increase of 22.7% from $300,647 of last year.
- Total Under Contract of 1,815 increased 4.6% compared to last year of 1,736.
- Total Unit Sales of 1,688 is a decrease of 15.4% since last year’s number of 1,995.
- The Median Sale Price of $305,000 is an increase of 20.6% since last year’s number of $253,000.
- New Listings of 2,021 increased 4.4% from 1,936 last year.
- Average Days on Market is 14 which is a decrease of 63.2% from last year’s 38.
- Active Listings of 1,557 is decreased from 2,321 of last year’s numbers by 32.9%
If you’re interested in a complimentary market evaluation with no obligation give us a call or request a meeting at our website. We’ll provide 3 key pieces of information. First, a detailed and accurate market analysis and value. Second, a net cost sheet so you’ll know all the financial details and costs. Lastly, we’ll share the 3 to 5 most critical updates your home needs to achieve maximum value.