Tucson, AZ
Housing Market
Tucson's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Tucson's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellTucson Housing Market Overview
The Tucson real estate market has shown mixed trends in recent months. The city's median home prices have declined by 0.67% year-over-year, reaching $324,500. Homes typically stay on the market for 73 days before they go under contract. Moreover, 403 homes were sold this month, an 11.2% drop from last year.
Tucson's housing market offers a variety of inventory options, from historic homes to modern suburban developments. Over the years, the city has remained a desirable destination due to its inexpensive cost of living, warm climate, and access to outdoor recreation. Thanks to its scenic desert landscapes, growing job market, and vibrant culture, Tucson continues to attract buyers who seek both affordability and quality of life.
Tucson's housing market offers a variety of inventory options, from historic homes to modern suburban developments. Over the years, the city has remained a desirable destination due to its inexpensive cost of living, warm climate, and access to outdoor recreation. Thanks to its scenic desert landscapes, growing job market, and vibrant culture, Tucson continues to attract buyers who seek both affordability and quality of life.
Median Sale Price
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Tucson
Tucson Housing Supply
Tucson appeals to both homebuyers and investors with its affordable prices, stunning landscapes, and warm climate. Currently, the total number of homes for sale in Tucson has reached 1,519, up by 13.7% from last year. New listings, however, have declined by 11.2% year-over-year, with 509 homes entering the Tucson housing market. While inventory has expanded, fewer new listings mean that buyers have limited options.
Housing supply in Tucson fluctuates throughout the year. More homes typically become available in spring and summer, as sellers list before the school year starts. Buyers often take advantage of these months to secure a home before winter sets in. With a growing inventory and homes spending longer on the market, buyers have opportunities for negotiation. Before you make an offer, you should inspect properties carefully. Also, consider requesting seller concessions to offset costs.
Housing supply in Tucson fluctuates throughout the year. More homes typically become available in spring and summer, as sellers list before the school year starts. Buyers often take advantage of these months to secure a home before winter sets in. With a growing inventory and homes spending longer on the market, buyers have opportunities for negotiation. Before you make an offer, you should inspect properties carefully. Also, consider requesting seller concessions to offset costs.
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Tucson
Tucson Housing Demand
Tucson's real estate market has shown slight competition in recent months. 18.9% of homes are selling above their list price, while 29.5% of homes have seen price drops. The sale-to-list price ratio stands at 98.3% which means most homes are selling below the asking price. This indicates that while some sellers still receive strong offers, many adjust their prices in order to attract buyers.
For home sellers, pricing a property competitively from the start can help avoid price reductions. You could also offer concessions to close a sale faster in this shifting market. Moreover, listing your home on the Arizona MLS can increase exposure and attract more potential buyers. Meanwhile, buyers can focus on homes that spend longer on the market, or have recently seen price drops. These properties provide greater room for negotiation.
For home sellers, pricing a property competitively from the start can help avoid price reductions. You could also offer concessions to close a sale faster in this shifting market. Moreover, listing your home on the Arizona MLS can increase exposure and attract more potential buyers. Meanwhile, buyers can focus on homes that spend longer on the market, or have recently seen price drops. These properties provide greater room for negotiation.
Homes Sold Above List Price
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Tucson Market: When to Buy or Sell?
The housing market in Tucson, AZ shifts throughout the year, in line with the broader Arizona housing market. When there are more homes for sale, buyers have more choices and better chances to negotiate. On the other hand, sellers can make faster sales for higher prices when demand is up and inventory is limited.
In the US housing market, a balanced supply is usually 5-6 months. If Tucson's supply period is longer than this, buyers can have more time to find the right home. A shorter supply period means competition is high and sellers will get multiple offers. Keep an eye on these trends to decide the best time to buy or sell a home.
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Frequently Asked Questions
How have Tucson house prices changed over the past year?
Over the past year, the median home price in Tucson, AZ, has declined slightly. The current median value stands at $324,500, a 0.67% decline year-over-year. This shift suggests a market adjustment that gives buyers more negotiating power compared to previous years. If you're considering selling, use our free home value estimator to assess your property's current market value and set the best asking price.
What are Tucson housing market predictions for 2025?
As per Tucson housing market forecasts for 2025, the market will remain stable, with moderate price movements as supply and demand adjust. With inventory and price reductions on the rise, dramatic price jumps are unlikely. However, Tucson's affordability, job market, and steady population growth should continue to support demand in the long run.
What's the average home price in Tucson, AZ?
House prices in Tucson, Arizona, vary depending on neighborhood, property type, and size. The median home price of single-family homes is about $333,928, while condos typically average $205,000. Luxury homes in areas like Catalina Foothills or Sabino Canyon can even exceed $1 million. You can browse homes for sale in Tucson to find a home that fits your budget.
When will the Tucson housing market crash?
Housing market forecasts suggest that a crash is unlikely in Tucson. However, home prices and demand may fluctuate, especially during peak seasons like summer. However, the market is expected to remain more or less stable through 2025.
Is this a good time to buy a house in Tucson, AZ?
First, check Tucson's real estate market trends to understand supply and demand. This will help you determine if conditions favor buyers or sellers. Sellers benefit when demand is high and prices are rising. However, if mortgage rates are stable, demand is lower, and more homes are available, it could be a good time for buyers to enter the market.
Where can I check Tucson housing market trends?
The Tucson housing market experiences shifts throughout the year, with changes in demand, pricing, and competition. Homes are currently spending more time on the market, with an increasing percentage of price drops. If you're planning to buy or sell a home in Tucson, analyzing the latest housing market trends can help you decide the best time to act.
How to buy a home in Tucson, Arizona?
Buying a home in Tucson starts with setting a budget and getting pre-approved for a mortgage. Next, you should search for homes for sale in Tucson, submit offers, secure financing, and complete the closing process to finalize your purchase
How can I list my home for sale in Tucson?
You can list your home for sale with a Flat Fee MLS Arizona listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location!
What is the average mortgage rate for buyers in Tucson?
The average mortgage rate for buyers in Tucson currently fluctuates between 6% and 6.8%, which is consistent with national trends. Actual rates depend on market conditions and your credit score. Always check current rates with multiple lenders before you apply for a loan.
What is the cost of living in Tucson, Arizona?
The cost of living in Tucson is about 4% higher than the US average and 2% lower than the Arizona average. Healthcare and housing are relatively affordable, while everyday essentials like food, utilities, and transportation cost slightly more than the national and state median.
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