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Average price of home in Tucson is up 20% from last year at $336,300

Sourced through local association of realtors
Housing in Tucson
Posted at 11:45 AM, Apr 20, 2022
and last updated 2022-04-20 14:54:22-04

TUCSON, Ariz. (KGUN) — The Tucson Association of REALTORS® is reporting a 20.5% increase in year-to-date median sales price for a home.

This largest trade association in Southern Arizona lists the new, average price at $336,300.

Norada Real Estate Investments ran the numbers.

Their analysis reveals a total of 2,059 single-family homes were sold from Jan. to Feb. That's a slight decrease of 0.6% from 2021

The real estate firm believes this decline in sales is because of an increase in mortgage interest rates, which briefly exceeded 4% in February.

Mortgage interest rates have not been this high since since May 2019.

Across Pima County, the median list price of homes is up 18.6% compared to last year at $350,000.

According to Norada, Tanque Verde has a median listing price of $699,000, making it the most expensive neighborhood.

Flowing Wells has a median listing price of $239,500, making it the most affordable neighborhood around.

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Caleb Fernández is a digital content producer for KGUN 9. Born and raised in Southern California, Caleb has always had an affinity for creative collaborations. After earning his bachelor's degree from Pennsylvania State University in Advertising/Public Relations, Caleb went straight to New York City where he learned the necessities of production assistance, photography and art direction. Share your story ideas and important issues with Caleb by emailing caleb.fernandez@kgun9.com or by connecting on LinkedIn, Instagram, and Twitter.