The Tucson Land Report releases statistics and data for the Tucson Metro area on the Lots & Lands properties in MLSSAZ every month. Based on this information, the real estate industry can determine the status of the real estate market for the area.
The numbers for the report are based on the localized market conditions and fluctuations are normal and expected. The information can still help real estate agents guide their clients for the best times to sell or buy land.
In comparison to April 2018, this April has shown an increase in closings with more properties under contract. But let’s look at the following numbers to get a better sense for the land market in Tucson.
April 2019 Land Report
- Median price of sold lots was down by 19%, which was $65,000 in 2019.
- 124 new properties were under contract in the Tucson Lot and Land area in April 2019, which was a 9% increase over the last year.
- Closings increased by 8% with a total of 65 closings in April 2019.
- Year-to-date 2019 closings increased by 23% with 270 closings since year-to-date 2018.
Although April seems like a mixed bag for the statistics, land lots are still selling well. While the active inventory has seen a 12% decrease since April 2018 and the months inventory has also seen a decrease from 25.1 to 20.4, there have been more closings than last year. This shows that the demand for land lots continues to be strong.
Long Realty Company continues to lead the market in successful real estate sales for April. Based on these numbers and years of experience, Long Realty Company takes pride in connecting buyers and sellers with the property they want.
If you or someone you know is looking to buy or sell land, reach out to me, Rick Sacks, at rick@buytucsonlots.com to determine your best options.
