Beginning in March, we have seen something we have never seen before. With the recent events of COVID-19, the real estate market has also been affected. While things have definitely slowed down with the recent stay at home orders across the nation, the individual home prices have continued to stay strong in the Tucson market. See a summary below of Tucson's April housing market stats.
Average sales price has increased 7%
New listings are down 24%
Median sales price is up 8.5%
Days on market are down 27%
Closed sales are down 18%
Months supply of inventory has decreased 32%
Inventory is still at an all time low and there are just not enough homes for sale, as there are buyers who are currently looking. Because of this, it is still a sellers market. With that said, it can also be a good time to buy. Interest rates are still very low, which means you save on your monthly mortgage payments. If you are thinking about buying or selling your home, contact us today and we can help navigate you through the current market.