Tucson Housing Market Report May 2019

Tucson Housing Market Report 2019

Oro Valley, AZ  (zip code 85755, 85737)

In the Oro Valley area, April 2019 active inventory was 267, virtually unchanged from April 2018. There were 102 closings in April 2019, a 26% increase from April 2018. Year-to-date 2019 there were 307 closings, a 4% increase from year-to-date 2018. Months of Inventory was 2.6, down from 3.3 in April 2018. Median price of sold homes was $332,500 for the month of April 2019, up 9% from April 2018. The Oro Valley area had 113 new properties under contract in April 2019, up 19% from April 2018.

Rancho Vistoso (Oro Valley, AZ – zip code 85755)

In the Rancho Vistoso area, April 2019 active inventory was 142, a 17% increase from April 2018. There were 43 closings in April 2019, a 39% increase from April 2018. Year-to-date 2019 there were 125 closings, a 42% increase from year-to-date 2018. Months of Inventory was 3.3, down from 3.9 in April 2018. Median price of sold homes was $335,000 for the month of April 2019, up 9% from April 2018. The Rancho Vistoso area had 52 new properties under contract in April 2019, up 53% from April 2018.

North Tucson (zip code 85718, 85750)

In the Tucson North area, April 2019 active inventory was 450, virtually unchanged from April 2018. There were 152 closings in April 2019, a 7% decrease from April 2018. Year-to-date 2019 there were 507 closings, a 6% decrease from year-to-date 2018. Months of Inventory was 3.0, up from 2.8 in April 2018. Median price of sold homes was $337,450 for the month of April 2019, up 3% from April 2018. The Tucson North area had 216 new properties under contract in April 2019, up 6% from April 2018.

Tucson, AZ Main Market

In the Tucson Main Market area, April 2019 active inventory was 3,311, a 5% decrease from April 2018. There were 1,716 closings in April 2019, a 6% increase from April 2018. Year-to-date 2019 there were 5,506 closings, a 1% increase from year-to-date 2018. Months of Inventory was 1.9, down from 2.2 in April 2018. Median price of sold homes was $215,000 for the month of April 2019, up 2% from April 2018. The Tucson Main Market area had 2,146 new properties under contract in April 2019, up 6% from April 2018.

East Tucson, AZ

In the Tucson East area, April 2019 active inventory was 195, a 32% decrease from April 2018. There were 157 closings in April 2019, a 7% decrease from April 2018. Year-to-date 2019 there were 537 closings, a 9% decrease from year-to-date 2018. Months of Inventory was 1.2, down from 1.7 in April 2018. Median price of sold homes was $188,000 for the month of April 2019, up 7% from April 2018. The Tucson East area had 196 new properties under contract in April 2019, up 3% from April 2018.

Northeast Tucson

In the Tucson Northeast and Extended Northeast area, April 2019 active inventory was 185, a 15% decrease from April 2018. There were 57 closings in April 2019, a 30% decrease from April 2018. Year-to-date 2019 there were 231 closings, a 9% decrease from year-to-date 2018. Months of Inventory was 3.2, up from 2.7 in April 2018. Median price of sold homes was $305,000 for the month of April 2019, up 5% from April 2018. The Tucson Northeast and Extended Northeast area had 99 new properties under contract in April 2019, down 5% from April 2018.

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