Each month Long Realty compiles a number of Housing Reports to keep buyers & sellers alike in tune with the local market. These reports are broken into a number of specific geographic areas, local communities, as well as a Luxury Report for homes priced at $800,000 and above. These Housing Reports give you a quick snapshot of the market with highlighted information, current inventory levels, graphical representations in the “Heat Map,” and trend lines. Click on any of the links below to review the Housing Reports for that area. If you’d like more detailed information about the entire Tucson market, simply click on the MLS Detailed Statistics button and you’ll see a more complex report showing additional market information.
One of Team Woodall’s single largest goals is to provide our clients with the most accurate and comprehensive information about the market. These Housing Reports are one key way that we aim to deliver this information to you in an easily comprehended visual manner. The report title Tucson Main is for the entire Tucson market, but if you’d like to receive a report for a specific MLS section of Tucson like Central, East, or West then simply send us a request. You may also sign-up to receive these Housing Reports emailed to you automatically each month.
The 2023 Mid-Year Market Report is now published and well worth a read as it details the adjustments occurring in our local market. With rising interest rates we’ve seen a reduction in buyer demand, but an almost equal reduction in new listings coming on the market now too. This is propping up home prices since inventory remains exceptionally low, even if up slightly from the troughs of 2022. Pent up buyer demand certainly remains and when interest rates dip, we do see more home shopping activity. Overall median & average prices are near the peak of last year, having risen after the dip we saw towards the end of 2022. Many would be home sellers are likely waiting to list until rates drop into the 5% range, since most current owners with mortgages have interest rates quite a bit lower than what they’d get if selling now and buying something new. Until that happens we don’t anticipate any major swings in the market, barring some macro event taking place.
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