The Tucson Arizona Real Estate Market Report – May 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 - May 2022
- The Average Sales Price of $445,284 is an increase of 14.5% from $389,036 of last year.
- Total Under Contract of 1,501 decreased 3.0% compared to last year of 1,547.
- Total Unit Sales of 1,518 is the same as last year of 1,518.
- The Median Sale Price of $445,284 is an increase of 14.5% since last year’s number of $389,036.
- New Listings of 1,657 increased 2.1% from 1,623 last year.
- Average Days on Market is 16 which is an increase of 23.1% from last years 13.
- Active Listings of 1,311 increased from 1,103 of last year’s numbers by 18.9%
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.