Local Market Insights | City of Tucson | August 2020

Normally as the summer ends, we start to the see the housing market slow, but there is not an indication that will be occurring this year. This summary is prepared using the monthly report published by the Tucson Association of Realtors. We had a 1 month supply of inventory and the median sales price for all properties increased 12.8%. The median single family home sale price was $280,000. Check out some other key statistics about the Tucson housing market for August.


- New Listings: Compared to August 2019, we saw a 3.1% decrease in single family homes and a 13.2% increase in townhouses/condos.


- Closed Sales: Compared to August 2019, we saw a 9.9% decrease in single family homes and a 9.6% increase in townhouses/condos.


- Inventory: Compared to August 2019, we saw a 49.4% decrease in single family homes and a 37.5% decrease in townhouses/condos. We had an inventory of 1,223 single family homes and 163 townhouses/condos.


- Median Sales Price: Compared to August 2019, we saw a 15.2% increase in single family homes and an 19% increase in townhouses/condos.


- Average Sales Price: Compared to August 2019, we saw a 21.1% increase in single family homes and a 17.2% increase in townhouses/condos.


- Days on Market: Compared to August 2019, we saw a 25.6% decrease for single family homes, with the average days on market at 29, and an 8% increase for townhouses/condos with the average days on market at 27.


- Months Supply of Inventory decreased 52.4%, to a 1 month supply of single family homes and 40%, to a 0.9 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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