Call Tyler Ford

Tucson Housing Market Report - February 2024

TUCSON HOME PRICES DOWN MONTH OVER MONTH!

What is the state of the Tucson housing market doing for February 2024?

In February 2024, the median single-family home sales price was $371,500.

While the average days on market was 25 days. There were a total of 1,654 active listings in Tucson.

Meanwhile, closed home sales in Tucson was 743 sales down 2.9% year-over-year.

Single Family Home Sellers Getting 98.30% Of Their List Price in February 2024

Tucson Housing Market Action Index

Click on the banner below to get a look at your local market for City, State, or by Zip Code.

Check out what home prices are doing in Tucson, AZ for February 2024.

Average days on market for single family homes... 25 Days!

Tucson Market Report Year-over-Year Highlights For February 2024:

Median Sales Price increased 8.0% percent year over year to $371,500 for Single Family and increased 14.6% percent year over year to $275,000 for Townhouse/Condo.
Days on Market decreased 9% percent to 25 days for Single Family and decreased 4% percent to 19 days for Townhouse/Condo.
Months Supply of Inventory for Single Family Homes was 2.30 months and 1.98 months for Townhouse/Condo.

These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?

Below are some essential data charts to show how the Tucson housing market is trending for February 2024.

CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.

Mortgage Interest Rate Update

Closed Home Sales

Total real estate sales in Tucson for the month of February 2024 were 743 close sales down 2.9% year over year as shown in the chart above.

Median Home Sales Price

In February 2024, the median home sales price in Tucson of a single-family home was $371,500 and $261,000 for townhouses/condos.

Which was a +8.0% year-over-year change for single-family homes and a +4.4%% year-over-year change for townhouses/condos from the previous year shown in the chart above.

Days On Market Until Sale

In February 2024, the average days it took a single-family home to sell was 25 days and 19 days for townhouses/condos as shown in the chart above.

The year-over-year change: down 9 days for a single-family home and up 4 days for a townhouse/condos.

Active Home Listings - Inventory of Tucson Homes For Sale

In February 2024, the number of active listings in Tucson, Arizona for single-family homes was 1,323 and 254 for townhouses/condos.

Tucson Housing Market Overview January 2024

The above chart is the overall snapshot of how the Tucson housing market faired for February 2024. It includes all types of properties: single-family residences, townhouse, condominiums, manufactured homes and mobile homes.

The average $/sqft of homes sold in Tucson for February 2024 was $230 $/sqft.

Active listings and home inventory numbers are a key indicator to keep an eye on.

If this downward or even slight increase in inventory continues, look for the Tucson housing market to continue to be strong and home prices to move up creating a sellers’ market in Tucson, Arizona.

HOME BUYERS

As home inventory levels begin to decrease there is less to chose from. So when you see a home that you like that is properly priced moving quickly is key to getting your offer accepted.

HOME SELLERS

As the number of listings decreases, sellers are poised to sell their home faster and for more money. Marketing and making your home look great are the keys to selling your home FAST and for MORE MONEY.

As a seller, your home is one of three listings:

A home that sells!
One that gets showings but sells the house down the road.
Or the home that gets no showings and does not sell.

Which type of listing do you want to be?

SOLUTION

Having a skilled real estate team is the key to saving thousands of dollars when buying or selling a home with the least amount of hassles. Put the Tyler Ford Real Estate Team powered by eXp Realty in Tucson to work for you. We would love to earn your business!

Will well sell your home in 90 Days Guaranteed or it’s FREE!

There are tons of good reasons now is a good time to buy a home in Tucson, AZ. Give us a call about home ownership today.

See All The Tucson Housing Market Reports