The Tucson's housing market has fallen fast in the past year – making on average - one in three homes that sold for under $100,000 in 2011. At the height of the housing bubble, zero properties could be bought for five figures unless it was a small studio or in rare instances, a small one bedroom condo.
Additionally last year, more than 800 homes sold for less than $35,000, about 300 sold for under $25,000 and 15 sold for under $10,000. As you can see from the graph below, the current list price for the least expensive home in Tucson is $15,700.
|
|
Original Price |
List Price |
SP |
CDOM |
Price Change |
% Price Change |
|
$35,025 |
$31,889 |
-- |
53 |
$-8,154 |
-19.32% |
|
|
$38,055 |
$34,050 |
-- |
33 |
$-8,500 |
-19.75% |
|
|
$15,700 |
$15,700 |
-- |
1 |
$-15,000 |
-27.5% |
|
|
$54,900 |
$40,000 |
-- |
357 |
$-2,600 |
-6.12% |
Active on the Tucson Market as of today, there are:
26 Single Family Homes for sale under $40,000
271 Single Family Homes for sale between $41,000 and $80,000
175 Single Family Homes for sale between $81,000 and $100,000
What does this all mean? Prices are at their lowest - but at some point - they will go back up! Right now in Tucson, you can buy a pretty nice home in all parts of town for a really good price!
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