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Tucson Real Estate Housing Market – May 2021

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 2021.

Here are 7 Key Statistics: May 2021 Tucson Housing Report

  • The Average Sales Price of $374,202 is an increase of 35.2% from $276,632 of last year.
  • Total Under Contract of 2,034 increased 9.8% compared to last year of 1,853.
  • Total Unit Sales of 1,725 is an increase of 19.1% since last year’s number of 1,448.
  • The Median Sale Price of $305,000 is an increase of 28.2% since last year’s number of $238,000.
  • New Listings of 1,898 increased 5.6% from 1,797 last year.
  • Average Days on Market is 15 which is a decrease of 53.1% from last year’s 32.
  • Active Listings of 1,127 is decreased from 2,928 of last year’s numbers by 61.5

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.