The Tucson Real Estate Market Remains Strong
A quick look at Tucson Real Estate market statistics shows that through May 2022 we are maintaining a strong sellers market with low inventory and in most price ranges at least stable price appreciation. Year over year the median Tucson sales price is up 20.72% over YTD 2021 through May. So far June has seen interest rates rise and currently rates are about 6% as opposed to just 3% in May 2021. The effect that the rising rates will have on Tucson’s Real Estate market remains to be seen, but every time the rate goes up by 1% a significant amount of buyers are priced out of the market. Rising interest rates along with steep price appreciation is bound to slow the market in Tucson down at some point.
It’s a good time to buy or sell a home in Tucson
If you are thinking of buying or selling a home in Tucson now would be a good time to contact us at Help-U-Sell SE Rita Ranch Realty. If you are looking to but, we can get you pre qualified to see how much house you can afford. If you are looking to sell, we will provide you with a market analysis of your property to get you the highest price. Also, with Help-U-Sell’s Flat Fee business model you will save thousands of dollars in commissions to use on your next home. The Market statistics below will give you a snapshot of the Tucson Real Estate Market.
Please feel free to contact us at 520-574-8900 or 520-405-9095 or email jpowell@helpusell.com with any questions.
Market Key Performance Indicators
| Summary Statistics | ||||||
| May-22 | May-21 | % Chg | 2022 YTD | 2021 YTD | % Chg | |
| Absorption Rate | 1.51 | 1.78 | -15.17 | 1.63 | 1.85 | -11.89 |
| Average List Price | $518,505 | $439,807 | 17.89 | $434,908 | $377,595 | 15.18 |
| Median List Price | $384,900 | $314,500 | 22.38 | $349,900 | $287,900 | 21.54 |
| Average Sale Price | $416,227 | $360,028 | 15.61 | $395,262 | $339,174 | 16.54 |
| Median Sale Price | $350,000 | $297,000 | 17.85 | $335,002 | $277,500 | 20.72 |
| Average CDOM | 18 | 20 | -10.00 | 23 | 28 | -17.86 |
| Median CDOM | 5 | 4 | 25.00 | 6 | 5 | 20.00 |