Last month I wrote that it was one of the most boring months in real estate market stats since I started writing these posts. Unfortunately, from September to October, not much has changed. Here's what went on in the market here in Tucson.
The average price of a single family home in Tucson rose from $452,190 in September to $474,472 in October. It seems like a great gain for homeowners, however, it's just about where home prices were a year ago, at $470,160.
Days on market is also down, but just slightly. On average, it took 50 days to sell a home in October compared to 52 in September. It's taking about a week longer to sell a house in 2024 compared to 2023, when it took only 43 days.
In October, 956 total homes sold. This is just slightly less than September's total of 993 and slightly higher than last October's total of 937. It's definitely harder these days to find a house to buy! In October of 2019, 1,381 homes sold!
All in all, this was another uneventful month in real estate stats. In some ways this is very nice, because as a buyer or seller it's easier to predict the market. It would be nice to have a little bit more inventory though! We'll see what happens next month!
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