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Tucson Living: It's a buyer's and seller's market - KVOA | KVOA.com | Tucson, Arizona

Tucson Living: It's a buyer's and seller's market

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Tucson living means staying up to date on our unique real estate market.

Jennifer Philips, CEO and Team Leader for the Gateway Partners at Realty Executives, said that we are currently in both a buyer's and a seller's market right now.

The number of homes sold monthly in Tucson are the highest they've been in over a decade. At the same time, Tucson has the lowest monthly inventory in over a decade.

Jennifer said that with such a low number of homes currently listed, it's a great time to sell a home. The median-average home price in Tucson is currently two-hundred thousand dollars.

That is up fifteen thousand dollars compared to past years.This means that homes are currently growing equity every month. Making it a great time to buy a home.

Steve Walker is with the Tucson Walker Team at Fairway Independent Mortgage Corporation. He added that the average rent for a single family home in Tucson is around $1,300/month.

With the current average home prices and mortgage rates, you can purchase a home for less per month than renting.

To learn more about Gateway Partners, visit the website or call 520-505-1696.

For more information on real estate market statistics, visit the Tucson Association of Realtors.

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