Lynn Slaten, Long Realty, provides the SaddleBrooke May Update
CONTRIBUTED BY LYNN SLATEN, LONG REALTY, June 10th, 2023
For May, 2023, there were 25 homes sold, compared to the 21 that were sold in April, 2023 (+19%.) In May, 2022, there were 29 homes sold (-14%.)
- -The median sales price for May, 2023 was $515,000, compared to $485,000 in April 2023 (+6%.) $531,000 was the median sales price in May, 2022 (-3%.)
- -The sales price to list price was 98% in May, 2023, the same as in April, 2023.
- -The numbers of homes sold year-to-date at the end of May, 2023 was 124.
- -There are currently 46 homes on the market. The median list price is $536,950. Average days on market has decreased to 32.
- -There are currently 22 homes under contract. Only 4% of those sold over the original asking price.
- -There is currently 1.8 months of inventory, which represents Seller’s market in all price ranges from $300K to over $1M.
Overall, Tucson prices are holding steady vs the Phoenix markets, which are off peak. In SaddleBrooke, our listing prices are mixed….up one month, down the next! Sales have been steady though! Agents are still reporting an overall inventory shortage. Many feel they have good Buyers, but need listings to sell them!
Historically, our SaddleBrooke home purchase activity will decrease as potential Buyers return to the cooler climates for the summer. Already, we see a slow down in our open house traffic. Most agents feel this is seasonal, but below normal seasonal activity. An Multiple Listing Service Economist says she thinks 2023 will continue to be an up/down year but next year we should return to more normal seasonality.
