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Thursday, December 14, 2017

Tucson Homes Market Update: Prices Tick Up a Bit

The Tucson homes market continues its long...slow...recovery from the big crash of 10 years ago.  Unlike Phoenix and some other western states cities, we have not seen any dramatic booms in prices or numbers of sales.

But we are seeing an ongoing gentle price increase, with the occasional monthly pause. Average sales price in November was $246,437, an increase from October but still down a bit from September's figure. The median sale price of $207,527 in November, which many argue is the more accurate figure, actually hit the highest point since December of 2007! 

Total unit sales chugged along with 1134 homes sold, down a bit from earlier 2017 monthly stats but still pretty darned good.  Well priced homes in good condition are selling fast. Buyers don't seem to want to take on projects, but tend to be going for homes in move-in condition, often with the upgrades they desire already done.

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