Top Small Teams in Tucson, Arizona – Ranked By Sides

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2023 Tucson, Arizona Housing Market Summary

Tucson, Arizona started 2023 with a total of 1,475 single-family homes on the market, with a median home price of $375,000 and an average price per square foot of $236. By the end of the year, inventory had decreased to 1,273 homes on the market (-13%), with a median home price of $419,990 (+11%) and an average price per square foot of $251 (+6%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 56 days.

Tucson started the year with 50% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 45% of Tucson homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Tucson started 2023 as a seller’s market, with an MAI score of 41; by the end of the year, the MAI had dropped to 34 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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