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  • Writer's pictureRachel Barrasso

January Market Stats

This past month, the average price for a single family home was $457,519. That's up by $2,217 from the previous month, and a whopping $25,183 from January, 2023! That's absolutely passive income you got just from owning an average home!

The average days on market was 43 this past month, just a day shorter than in December. The days on market last January was 49, so while we are looking better this year compared to 2023, this number has not changed in a very significant amount for a while. Homes are just not flying off the shelves the way they used to, although we are still seeing multiple offers in certain situations.

This month our MLS switched the programs they provide that gives us our stats, so instead of following months of inventory and homes for sale, I will be following closed sales from now on. I think it's a good indicator of how the market is doing in Tucson and what is actually being sold.

This past month there were 774 homes sold, compared with 825 in December. Keep in mind that this number typically lags by about a month, as most transactions take 30 days or so to close. So, home buyers who were looking in December typically closed in January, etc. I would expect the number of closed homes in February to be higher than in January and December.

We are getting into the busy season of real estate again! What do you think the market will do this year?

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