The Tucson housing market has continued to stay strong as the new year begins. Buyer demand continues for existing homes, especially with the rising cost of building materials for new construction. 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, kicking off the new year with an 18.9% increase in the median sales price for all property categories. Check out some other key statistics about the Tucson housing market as we enter 2021.
- New Listings: Compared to January 2020, we saw a 23.6% decrease in single family homes and a 25.6% decrease in Townhouses/Condos.
- Closed Sales: Compared to January 2020, we saw a 9% increase in single family homes and a 0.7% decrease in Townhouses/Condos.
- Inventory: Compared to January 2020, we saw a 61% decrease in Single Family Homes and a 57.4% decrease in Townhouses/Condos.
- Median Sales Price: Compared to January 2020, we saw a 19.6% increase in Single Family Homes and a 10.6% increase in Townhouses/Condos.
- Average Sales Price: Compared to January 2020, we saw a 23.7% increase in Single Family Homes and a 6.8% increase in Townhouses/Condos.
- Days on Market: Compared to January 2020, we saw a 39% decrease in Single Family Homes, with the average days on market at 25, and a 3.8% increase in Townhouses/Condos with the average days on market at 27.
- Months Supply of Inventory decreased 63.2%, to a 0.7 month supply of single family homes and 62.5%, to a 0.6 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!
