View the September 2017 Tucson Market Report in our Market Data Center.
In our office, September was a quieter month for closings, but we had a very busy month meeting with clients to list their homes.
Our experience reflects what was happening marketwide: Home sales fell in September, but the number of new and active listings climbed.
This lull in home sales happens at the end of every summer. It's kind of like the calm before the fall storm of listing and sales activity.
Active listings increased to the highest number we've seen all year (3587), although inventory is still tight, particularly in the $100,000 - $200,000 price range.
The number of listings added to the market last month also jumped 18% from a 2017 low in August. We expect new listings to continue increasing through October before declining through the holidays and end of the year.
The average home price in Tucson is up 15% over September 2017. The median home price of $206,000 is up nearly 17% from $177,000 last September.
Looking forward, the next 6 weeks will be the strongest left in the year for home sales. Once we reach Thanksgiving, most buyer and listing activity will decrease as people focus on the end-of-year holidays.