As we look back at 2019, the housing market proved to be strong. Inventory continued to decrease as the year progressed and prices continued to rise. While this creates a strong sellers’ market, interest rates are lower than they were this time last year. Lower interest rates could mean more affordability for buyers. Here is a look at market stats for Tucson in December, 2019.
· New Listings decreased 5.7 percent for Single Family and 6.5 percent for Townhouse/Condo.
· Inventory decreased 27.0 percent for Single Family and 21.1 percent for Townhouse/Condo.
· Median Sales Price increased 12.3 percent to $252,750 for Single Family and 18.4 percent to $166,000 for Townhouse/Condo.
· Days on Market decreased 13.6 percent for Single Family but increased 3.2 percent for Townhouse/Condo.
· Closed sales increased 15.6 percent from December 2018.
If you are thinking about buying or selling your home, contact us today. We can help you navigate through the Tucson market and achieve your real estate goals!