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Tucson Real Estate Housing Market – May 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 May 2020.

Here are 7 Key Statistics: May 2020 Tucson Housing Report

  • The Average Sales Price of $286,044 is an increase of 1.6% from $281,485 of last year.
  • Total Under Contract of 1,726 increased 10.6% compared to last year of 1,561.
  • Total Unit Sales of 1,158 is a decrease of 31.5% since last year’s number of 1,690.
  • The Median Sale Price of $240,700 is an increase of 2.4% since last year’s number of $235,000.
  • New Listings of 1,487 decreased 17.7% from 1,807 last year.
  • Average Days on Market is 30 which is a decrease of 21.1% from last year’s 38.
  • Active Listings of 1,951 is decreased from 2,919 of last year’s numbers by 33.2%

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.