Local Market Insights | City of Tucson | April 2020

Updated: Jan 21

The Covid-19 pandemic has brought something we have never seen before. Real estate activity has slowed substantially this month. Fortunately, while we are seeing many effects of the pandemic affect our market, our local home prices are staying strong. This summary is prepared using the monthly report published by the Tucson Association of Realtors. We had a 1.7 month supply of inventory and the median sales price for all properties increased 12.2%. The median single family home sale price was $255,000. Check out some other key statistics about the Tucson housing market for April.


- New Listings: Compared to April 2019, we saw a 27.4% decrease in single family homes and a 31.3% decrease in townhouses/condos.


- Closed Sales: Compared to April 2019, we saw a 19.4% decrease in single family homes and a 35.3% decrease in townhouses/condos.


- Inventory: Compared to April 2019, we saw a 27.7% decrease in single family homes and a 5.9% decrease in townhouses/condos. We had an inventory of 1,997 single family homes and 285 townhouses/condos.


- Median Sales Price: Compared to April 2019, we saw a 8.5% increase in single family homes and an 10.9% increase in townhouses/condos.


- Average Sales Price: Compared to April 2019, we saw a 7% increase in single family homes and an 16.9% increase in townhouses/condos.


- Days on Market: Compared to April 2019, we saw a 27.9% decrease for single family homes, with the average days on market at 31, and a 23.3% decrease for townhouses/condos with the average days on market at 23.


- Months Supply of Inventory decreased 32%, to a 1.7 month supply of single family homes and increased 6.3%, to a 1.7 month supply of townhouses/condos.


If you are thinking about selling your home this year, contact us today. We will show you all the benefits you get, when you list with us!



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