Tucson Housing Market Update: Mid Year 2021
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Are you curious about the state of the market in Southern Arizona?Â
Today we're going to go over five categories to get you updated on the current state of the Southern Arizona Real Estate market.Â
Closed Sales
The beginning of 2021 started out very strong with a strong buyer demand in home sales. This outpaced the closed sales from 2020 and 2019. There was a slight dip in May, but it rebounded very fast in June. The total closed home sales increased 16.5% year-to-date compared to 2020.
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New Pending Sales
Just like the closed sales, the pending sales increased in the first half of 2021 with a very strong March and April. Although springtime is always a very hot time to buy real estate in Tucson, the new pending home sales were up 6% versus the year-to-date in 2020.Â
Homes For Sale
Like so many of you have probably noticed, the number of available homes for sale in the Tucson, Arizona area is still historically low. With only 1,113 active listings, homes are selling almost as fast as they hit the market.
Days on Market
While buyer activity is up and inventory is low, there's a high competition for properties in 2021. With homes getting multiple offers and majority of them well over list price, homes are selling more quickly than ever. The average days on market is 5 days.
Median Sales Price
While high demand and low supply is only expected for prices to increase, the median sales price has gone up over 31.3% from June 2020. As of the mid year, the median sales price is around $327,150.
As 2021 continues, the market remains for the unforeseeable future to be a strong seller's market. I would love to send you more information about the state of the market. If you have any questions about real estate or 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!
