"Tucson's median list price dropped to $374,975 in March, down 5.7% from a year ago, nearly three times the national decline of 2.1%. This indicates a significant shift in the market dynamics."
"Active listings rose to 2,638 homes in March, up 14.8% year over year, providing buyers with a broader selection and reducing the urgency to make quick decisions."
"For buyers today, the increase in inventory means less pressure, allowing for more deliberate choices, while sellers are advised to price their homes according to the current market conditions."
"Homes in Tucson took an average of 52 days to sell in March, which is an increase of 4% year over year, yet still outpaces the national median of 57 days."
Tucson's real estate market has shifted towards buyers, with inventory increasing by nearly 15% year over year and median list prices dropping by 5.7%. Active listings rose to 2,638 homes, offering buyers a broader selection and less urgency. Sellers are adjusting prices, with 23.2% of listings experiencing price reductions. Homes are taking longer to sell, averaging 52 days on the market, yet this is still faster than the national average. Buyers now have leverage, while sellers must price competitively to attract interest.
Read at SFGATE
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