Home Prices in the Tucson Foothills for June 2017
Real Estate market data for the Tucson Foothills, AZ provided by Charles Weasner and Steve Redmond – Associate Brokers with Long Realty Foothills.
Tucson Foothills Home Prices
Shrinking Inventory, Shorter Days on Market and Rising Prices summarize home prices in the Tucson Foothills and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in the Tucson Foothills but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the Tucson Foothills home on which you are making an offer.
If you are interested in how much current inventory is on the market in the Tucson Foothills you can find that information by clicking on the link. Low inventory suggests that homes are sitting on the market for a shorter time. Currently in this area of Tucson, homes have a average time of 52 days on the market before they sell. This would suggest that this is not the time for buyers to make aggressive offers on a home. Sellers are pricing their homes at or above the market value in many cases as it’s a Sellers Market below the $500,000 price point. Low inventory in Tucson has multiple offers coming in on homes similar to what we saw back in 2005. Home prices aren’t running up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise. Again a good reason to arm yourself with a seasoned professional who knows the market.
Tucson Foothills Real Estate Report Summary
Months of Inventory is 3.3% down from 4.9% in May 2016.
The median sale price in August for single family homes is $330,000. Up 4% from May 2016.
The number of homes closed through May 31st was 146, up 8% from May 2016.
The level of new properties under contract (150) is virtually unchanged from May 2016.
Year to date there have been 664 closings a 14% increase from the same year to date period in 2016.
Find Homes for Sale in the Tucson Foothills
Visit our website to search for homes in the Tucson Foothills or to be notified when Tucson Foothills Homes come on the market.
To get three estimates of what you home is worth in the current market CLICK HERE or for a more accurate assessment call 520-906-8103.