Phoenix Market Trends

Tucson Housing Prices and Inventory Rose in September

The Tucson Association of Realtors recently released housing statistics for Tucson in September and things are looking up compared to this time last year. 

Seeing an increase in year-over-year sales from September 2016, Tucson’s total volume sales of $300,150,958, which was down 6.60 percent from the previous month, is still 9.01 percent higher than the previous year.

 With many buyers waiting for the summer slump to end, inventory increased 18.18 percent from August with active listings at 3,587, up 2.49 percent from last year.

Trends tip towards a seller’s market, however, with the average days on market down three days from August to just 42 days. Stable markets see inventory on the market at least six months prior to selling.

With demand allowing sellers to increase prices even as inventory rises, median sale prices were up 7.77 percent from August to $206,915. That’s also up 16.9 percent from last September when prices averaged $177,000.

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