Sun May 29 2022
This week the median list price for Tucson, AZ is $425,000 with the market action index hovering around 84. This is less than last month's market action index of 85. Inventory has increased to 657.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$425,000|
|Median Price of New Listings||$385,000|
|Per Square Foot||$233|
|Average Days on Market||54|
|Median Days on Market||14|
|Strong Seller's Market|
While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,150,000||3,395||1 - 2.5 acres||4||4||26||32||23||35|
|$499,950||2,203||8,000 - 10,000 sqft||4||3||23||57||41||14|
|$375,000||1,745||6,500 - 8,000 sqft||3||2||24||64||58||14|
|$290,000||1,344||6,500 - 8,000 sqft||3||2||49||68||64||7|