The Tucson Arizona Real Estate Market Report – July 2022 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.
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 2022
- The Average Sales Price of $433,059 is an increase of 13.5% from $381,420 of last year.
- Total Under Contract of 1,210 decreased 12.6% compared to last year of 1,385.
- Total Unit Sales of 1,119 has decreased 24.9% compared to last year of 1,490.
- The Median Sale Price of $370,000 is an increase of 17.5% since last year’s number of $315,000.
- New Listings of 1,738 decreased 3.9% from 1,808 last year.
- Average Days on Market is 18 which is an increase of 50.0% from last years 12.
- Active Listings of 2,249 increased from 1,503 of last year’s numbers by 49.6%
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.