According to the Tucson Association of Realtors, active listings of homes in the Tucson market has dropped below 8,000 for the first time in two years. The downward trend in sales prices may have stopped as well. There was almost no change in the median sales price of $199,900 from June to July.
Personally, I’ve sold several homes for clients in the past few months. Each of my sellers enjoyed a substantial gain (on average 9 to 10 percent) on the value of their home. Even one seller who I helped with the purchase of his home last year and had to sell this year. He saw an appreciation rate of about 10%.
What’s even more fun about this market is that buyers are still enjoying great pricing. I love Tucson!