Tucson’s Housing Market Pulse – February 2025
Ben & Kim Boldt – Tucson’s Top Realty Team
The February 2025 Tucson Housing Market Pulse shows the Median sales price for increased 1.7% from February 2024 and stands at $371,140. As for the average sales price, it increased 5.0% over February 2024 to $450,882.
Median days on market was 35 for February 2025. That’s an INCREASE of 6 days from the prior year.
One more thing, the ratio of sales price to list price was 97.98% for February 2025. Active listings at the end of February stood at 4,499. Single-family at 3.690, Townhouses at 298, Condominiums at 226 and Manufactured homes at 226.
Quickly Search ALL Homes for Sale in Tucson AZ
The Tucson Housing Market Pulse February 2025 – All Homes – Single Family – Condos/Townhomes – Manufactured Homes
The Takeaway
Mortgage Rates
Our online review of mortgage rates as of March 11, 2025, has rates at 6.631% for 30 years fixed and 5.735% for 15 years fixed. Of course, credit scores and regional incentives would affect these rates. Rates have trended down since early February 2025. Many economists predict that mortgage rates will mostly hold between 6 and 7 percent throughout much of 2025. But remember that rates change frequently, and fluctuations can happen in response to various market forces and Federal policy.
Demand
February 2025 sales of 1,056 homes moved up from the January lowest level. The median and average price were up 1.8% and 5.0% from February 2024. So, unit sales are down, but prices – year over year – are up. And the ratio of sale price to list price is at 97.98%
> Inventory Of Homes for Sale
New listings came in at 1,930 in February. An increase of 280 over the prior year, but down from January. It is likely interest rates continue to keep the “move up” buyers in their homes. Swapping a 3.25% mortgage rate for 7.0% is a challenge, however it is possible reality is setting in that mortgage rates under 5% are not in the foreseeable future.
> Prices
Prices continue to increase year over year as shown above the median sales price was up 1.7% year over year.
> The Bottom Line
Mortgage rates are again under 7.0% but may not decrease much further for the 1st half of 2025 as had been suggested.
No change in the near-term outlook! Prices up and home inventory increasing but not glutting the market. Will some snowbirds put their home on the market as they head to their summer homes?
We will find out very soon. Another factor effecting listing in 55+ communities is the opening of a new assisted living facility in Oro Valley, AZ. Incentives at the facility are leading 55+ residents to the next lifestyle phase.
It’s deja vu all over again on new construction. New home builders are steadily raising prices in response to demand with low resale inventory. Most buyers are happy as well to get a new home and not need to remodel anything. New home builder incentives and lower mortgage rates with builder financing may also play a part in the new construction option.
Considering A Home Tucson – Give Us a Call
Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor team, we invest the time to understand your home buying interests and desires.
At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Conclusion
Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson.
Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.
We are a top Realtor team in Tucson, AZ since 2002. Take a few minutes to read our profiles and client testimonials.
We coulde be the Tucson Realtors you have been looking for?
Sign UP to receive daily HOME TRACKER UPDATES - OR - Our Monthly NEWSLETTER. And get regular updates on the Real Estate Market and events in Tucson, AZ.
Questions about the Tucson Real Estate Market or Tucson Homes for Sale? Call Us - 520 940 4541 OR complete the - CONTACT FORM - and we will get right back to you!
Go to the Tucson Housing Market Pulse archives for a look at recent housing reports and trends.
By the way, if you missed last month’s issue of the Tucson Housing Market Pulse its right here January 2025 Tucson Housing Market Pulse.