Each month, the Tucson Land Report releases, offering a summary of data on the previous month. The report covers the Tucson Metro area with information on properties under contract and home sales data based on information from the MLSSAZ and using Brokermetrics software. These year-to-date and month-to-month comparisons reveal to realtors the best times for clients to buy or sell land in the area.
The July 2019 Land Report is no different as it features the highlights and lowlights of June 2019, outlining the pros and cons of the market to buyers and sellers.
July 2019 Land Report
- Median price of sold lots increased by 2%, which was $55,000 in June 2019.
- 128 new properties were under contract in the Tucson Lot and Land area in June 2019, which was a 19% increase over the last year.
- Closings increased by 15% with a total of 69 closings in June 2019.
- Year-to-date 2019 closings increased by 12% with 396 closings since year-to-date 2018.
- Months inventory of land lots decreased to 18.8 from the previous year of 25.3 in June 2018.
Overall, the July 2019 Land Report shows that June saw a lot of promising increases, not only in the median price of sold lots but in closings as well. All of these numbers mean that buyers will have a more satisfying land purchasing experience.
The Long Realty Company continues to lead the market and area realtors with successful real estate sales. 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 Sack, at rick@buytucsonlots.com to determine your best options.
