Tucson’s Housing Market Pulse – March 2025
Ben & Kim Boldt – Tucson’s Top Realty Team
The March 2025 Tucson Housing Market Pulse shows the Median sales price for increased 0.9% from March 2024 and stands at $367,000. The average sales price, it increased 1.3% over March 2024 to $455,355.
Median days on market was 28 for March 2025. That’s an INCREASE of 7 days from the prior year.
One more thing, the ratio of sales price to list price was 98.17% for March 2025. Active listings at the end of February stood at 4,578. Single-family at 3.736, Townhouses at 315, Condominiums at 251 and Manufactured homes at 214.
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The Tucson Housing Market Pulse March 2025 – All Homes – Single Family – Condos/Townhomes – Manufactured Homes
The Takeaway
Mortgage Rates
The U.S. consumer price index (CPI) fell 0.1% in March to 2.4%, lower than expected. Falling energy and travel costs offset food and shelter gains. However, shelter increased just 0.2%, the lowest monthly gain since November 2021. Core inflation, excluding food and energy, hit a three-year low of 2.8%.
Our online review of mortgage rates as of April 15, 2025, NerdWallet shows the average APR on a 30-year fixed-rate mortgage at 7.046%. The average APR on a 15-year fixed-rate mortgage fell 4 basis points to 6.182% and the average APR for a 5-year adjustable-rate mortgage (ARM) rose 12 basis points to 7.351%. The 30-year fixed-rate mortgage is 13 basis points higher than one week ago and 11 basis points lower than one year ago.
Interestingly, Bankrate.com shows national current average interest rate for a 30-year fixed mortgage on April 15, 2025, to be 6.86%, up 20 basis points over the last seven days.
> Inventory Of Homes for Sale
New listings came in at 2,101 in March. An increase of 246 over the prior year.
> Prices
Prices continue to increase year over year as shown above the median sales price was up 0.9% year over year. The average sales price rose 1.3% year over year.
> The Bottom Line
Mortgage rates moved back up and over 7.0% during the last 30 days. Given stock market turbulence, rates may not see a significant decline in 2025.
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? Hmmm!
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 experiencing a sales slowdown and providing incentives to boost sales. Most buyers are happy as well to get a new home and not need to remodel anything. But buyer MUST pay attention to the upgrades they want in their home and NOT go over 20% of the base price. New home builder incentives and lower mortgage rate financing may also play a part in the new construction option.
Considering A Home Tucson – Give Us a Call
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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
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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 February 2025 Tucson Housing Market Pulse.