Tucson Home Prices Down in November

"In November, home prices fell slightly from the month before, with a median listing price of $374,000. The number of listings on the market grew 1.3% from last month, which is a smaller increase than normal for this time of the year in Tucson, and homes are also selling slower than at the same time last year. Typically, home price per square foot in Tucson tend to rise in November."

"So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in Old Pueblo are outpacing the national market. Tucson inventory In November, there were 2,669 homes for sale in Tucson, which was 1.3% more than the month before and 17.6% more than the same time last year."

"Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266. Time on market Homes in Tucson take an average of 57 days to sell, according to November figures. This is the same as the previous month and five days more than the same month last year. For comparison, nationally homes spent an average of 64 days on the market in November."

In November, the median listing price in Tucson was $374,000, a slight month-over-month decline. Listings increased 1.3% from October and were 17.6% higher year-over-year, with 2,669 homes for sale. Price per square foot rose 0.5% month-over-month, contrasting with a 1.2% national decline. Active inventory nationwide fell 2.5% to 1,072,266. Homes in Tucson averaged 57 days on market, unchanged from the prior month and five days longer than the previous November. Nationally, homes averaged 64 days on market in November. Homes in Tucson are selling slower year-over-year despite modest price gains per square foot.

Read at SFGATE