November was another busy month for the Tucson housing market. With inventory still low and sales up from October, the market is still holding steady. Even though overall sales have increased, single family homes only slightly increased in sale price, while condos and town homes remained flat. With interest rates remaining low, this may be a good time to buy! Check out the details below.
New Listings decreased 7.9 percent for Single Family and 0.5 percent for Townhouse/Condo
Pending Sales increased 19.8 percent for Single Family and 5.2 percent for Townhouse/Condo.
Inventory decreased 24.2 percent for Single Family and 11.4 percent for Townhouse/Condo.
Median Sales Price increased 3.2 percent to $240,000 for Single Family but remained flat for Townhouse/Condo.
Days on Market decreased 14.6 percent for Single Family and 16.1 percent for Townhouse/Condo.
Months Supply of Inventory decreased 28.6 percent for Single Family and 11.8 percent for Townhouse/Condo.