The release of the Tucson Land Report provides an overview of the land lot market from the Tucson Metro area and from the MLSSAZ. For realtors, the statistics provide eye-opening comparisons of year-to-date and month-to-month data. The report helps realtors recognize the best times for buying and selling land.
For the August 2019 Land Report, the numbers from July are promising. If the market continues to follow the trends seen in the past months, the market will continue to favor buyers, creating a great land purchasing experience for them.
August 2019 Land Report
- Median price of sold lots decreased by 28% since July 2018 to $55,000 in July 2019.
- 117 new properties were under contract in the Tucson Lot and Land area in July 2019, which was a 29% increase over the last year.
- Closings increased by 16% with a total of 57 closings in July 2019.
- Year-to-date 2019 closings increased by 21% with 470 closings since year-to-date 2018.
- Months inventory of land lots decreased to 22.1 from the previous year of 30.1 in July 2018.
For the numbers coming out of July 2019, the real estate land market continues to hold steady. The increase of properties under contract with more closings is beneficial to sellers who want to see their land move off the market quickly. July 2019 maintains a market that benefits buyers.
The Long Realty Company leads the market and area realtors with successful real estate sales. Throughout the year, Long Realty Company continues to take 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 Sack, at rick@buytucsonlots.com to determine your best options.
