As the year wrapped up, Tucson’s land and lot market closed on a quieter note. Fewer transactions and a rise in inventory extended buyer opportunities, though pricing remained steady across much of the market.
Market Highlights
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Active inventory for December held steady at 730, virtually unchanged from December 2023.
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There were 41 closings, marking a 27% decrease from the same month last year.
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Year-to-date closings totaled 660, a modest 4% decline from 2023.
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Median lot price was $135,820, reflecting a 7% decrease compared to December 2023.
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Months of inventory rose to 17.8, up from 13.0 the previous year.
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42 new properties went under contract, down 21% year-over-year.
These figures suggest a more deliberate pace in buyer decision-making, though the fundamentals remain strong for those seeking well-located, build-ready land. High inventory levels and slower sales indicate a continued buyer’s market in most price bands.
Download the Full Report
To explore detailed stats, trend charts, and market conditions by price range, download the full Tucson Land Market Report – December 2024 and get informed for your next land sale or purchase.
