Every month, the Tucson Land Report releases information about the statistics and data
for the Lots & Lands properties in MLSSAZ for the Tucson Metro area. This information reveals the state of the real estate industry and the market for the area in comparison to previous years.
For the report, the numbers are obtained from the localized market. Any fluctuations or changes are expected, but real estate agents use this information to guide their clients for the best times to sell or buy land in the area.
February 2019 has shown some significant increases in home closings and median prices for land. This is promising news for individuals who are looking to sell land, but let’s check the numbers for the rest of the land market in Tucson.
February 2019 Land Report
- Median price of sold lots increased by 39%, which was $62,500 in 2019.
- 111 new properties were under contract in the Tucson Lot and Land area in February 2019, which was a 12%increase over the last year.
- Closings increased by 16% with a total of 59 closings in February 2019.
- Year-to-date 2019 closings increased by 29% with 120 closings since year-to-date 2018.
- Months inventory of land lots decreased to 23.4 from the previous year of 29.4.
February 2019 shows a real estate market that is benefitting both sellers and buyers with land lots moving quickly with more closings, more properties under contract, and a higher median sell price. Based on this information, the market is benefitting sellers.
Once again, the Long Realty Company leads in successful real estate sales for February. 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 firstname.lastname@example.org to determine your best options.