Tucson Housing Market Update: 3rd Quarter 2021
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Are you interested in hearing a quick market update for Southern Arizona? Read on to know the market update as of the end of the third quarter for 2021.
We're going to go over four categories to get you updated on the current state of the Southern Arizona real estate market.Â
Closed Sales
Let's talk about the end of the third quarter for 2021. There were 1,515 closed sales, which is actually an 11% decrease from last year. There is some steadiness that we're seeing, which is typically pretty common going into the fall winter time this coming year.Â
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New Pending Sales
Just like the closed sales, the pending sales decreased by 11%. There were 1,748 homes under contract at the end of the third quarter in September.Â
Homes For Sale
As of the end of the third quarter, there were 1,715 active homes for sale on the market. From the year to date, we went from 0.9 to 1.1 months of inventory. That's a 10% increase from last year.
Median Sales Price
With a higher demand and still lower supply it's only expected for prices to increase. The median sales price has gone up over 27% from September, 2020. The current median sales price is $334,977.
As 2021 closes out, the market remains for the unforeseeable future, still a strong seller's market if it's priced appropriately. I would love to send you more information about the state of the market. If you have any questions about real estate in Tucson, I invite you to call, email or text me!
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Rachel Clark
Hi, I'm Rachel!
As a Tucson native, I have been fortunate enough to experience everything Tucson has to offer! I love being able to speak to people on a daily basis who are either looking to move to Tucson or are fortunate enough to already live here! You can reach out too. Send me a text, give me a call or shoot me an email. I'm here to help however I can when it comes to moving to Tucson!
