2020 Mid-Year Tucson Housing Market Report
Tucson’s Seller’s Market Intensifies Due to continued low listing inventory and the robust level of buyer activity fueled by low rates, the Tucson area moves deeper into seller’s market territory. Even in the luxury $1 million and up segment, an increase in buyer activity and shortage of marketable inventory moves luxury to a more balanced supply and demand. In the under $500k market, there is less than one month of inventory, a very tight seller’s market, resulting in listings selling very quickly and in multiple offer scenarios. See the stats at my 2020 Mid-Year State of the Market Report.
2020 has proven to be a challenging year, with many unknowns. One thing we do know though, is the underlying resiliency and strength in our local housing markets. If you are considering buying, the very attractive mortgage rates could benefit you. Just be prepared to act quickly and aggressively when making offers. For those considering selling, the conditions are ideal to do so. With safety guidelines and practices in place, and virtual marketing and showings, you can have a successful sale with everyone involved in your transaction maintaining proper safety measures. It is also a good time to have an updated analysis completed on your home’s current value. Contact me for a complimentary home value analysis, or any other real estate needs.
Download the 2020 Mid-Year Tucson Housing Market Report
Joy and excitement is the thing that the world needs more of right now than anything, by Will Guidara