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 October 2020.
Here are 7 Key Statistics: October 2020 Tucson Housing Report
- The Average Sales Price of $324,647 is an increase of 15.7% from $280,693 of last year.
- Total Under Contract of 1,604 increased 27.1% compared to last year of 1,262.
- Total Unit Sales of 1,571 is an increase of 18.1% since last year’s number of 1,330.
- The Median Sale Price of $270,000 is an increase of 13.4% since last year’s number of $238,000.
- New Listings of 1,853 increased 9.0% from 1,700 last year.
- Average Days on Market is 20 which is a decrease of 44.4% from last year’s 36.
- Active Listings of 1,734 is decreased from 2,875 of last year’s numbers by 39.7%
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.