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Tucson Real Estate Housing Market – August 2020

Every month the Tucson Association of Realtors Multiple Listing service shares a
monthly housing report for Tucson. Here is the Tucson Housing report statistics below for August 2020.

Here are 7 Key Statistics: August 2020 Tucson Housing Report

  • The Average Sales Price of $325,310 is an increase of 19.4% from $272,432 of last year.
  • Total Under Contract of 1,737 increased 26.7% compared to last year of 1,371.
  • Total Unit Sales of 1,329 is a decrease of 7.3% since last year’s number of 1,434.
  • The Median Sale Price of $261,590 is an increase of 12.8% since last year’s number of $231,950.
  • New Listings of 1,621 decreased 1.2% from 1,640 last year.
  • Average Days on Market is 29 which is a decrease of 21.6% from last year’s 37.
  • Active Listings of 1,396 is decreased from 2,697 of last year’s numbers by 48.2%

Buying or Selling? See what the charts below mean to you

So what does it mean if you are a Buyer or Seller?

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.

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?

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.