Local Market Insights | City of Tucson | December 2020

The Tucson housing market has continued to stay strong in December, despite normally being the slowest month of the year for our market. This summary is prepared using the monthly report published by the Tucson Association of Realtors. We continue to be in a strong seller's market, ending 2020 with 0.8 month supply of inventory. The average sales prices has ended with an increase of 11.7% compared to the end of 2019. Check out some other key statistics about the Tucson housing market as we enter 2021.


- New Listings: Compared to December 2019, we saw a 12.9% increase in single family homes and a 17.6% increase in Townhouses/Condos. Our year to date (YTD) comparison between 2019 and 2020 shows a 4.3% decrease in the number of new listings for single family homes and a 4.4% increase for townhouses/condos.


- Closed Sales: Compared to December 2019, we saw a 30.2% increase in single family homes and a 48.4% increase in Townhouses/Condos. Our year to date (YTD) comparison between 2019 and 2020 shows a 6.4% increase in the number of new listings for single family homes and a 6.7% increase for townhouses/condos.


- Inventory: Compared to December 2019, we saw a 54.3% decrease in Single Family Homes and a 47.8% decrease in Townhouses/Condos.


- Median Sales Price: Compared to December 2019, we saw a 12.9% increase in Single Family Homes and a 5.4% increase in Townhouses/Condos. Our year to date (YTD) comparison between 2019 and 2020 shows an increase of 9.6% for single family homes and for townhouses/condos.


- Average Sales Price: Compared to December 2019, we saw a 15.9% increase in Single Family Homes and a 5.4% increase in Townhouses/Condos. Our year to date (YTD) comparison between 2019 and 2020 shows an increase of 11.7% for single family homes and a 10.7% increase for townhouses/condos.


- Days on Market: Compared to December 2019, we saw a 39.5% decrease in Single Family Homes, with the average days on market at 23, and a 34.4% increase in Townhouses/Condos with the average days on market at 21. Our year to date (YTD) comparison between 2019 and 2020 shows a decrease of 26.8% for single family homes and a 13.3% decrease for townhouses/condos.


- Months Supply of Inventory decreased 57.9%, to a 0.8 month supply of single family homes and 53.3%, to a 0.7 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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