For Star subscribers: The majority of home sellers in Tucson got 100% of the asking price for their home — often substantially more.
1 of 2 Alan Gurevitz rinses off his car in front of his home in the Saguaro Bloom subdivision in Marana. Homes prices rose in the Tucson area last year, particularly in the upper northwest area of Pima County.Gabriela Rico Prospective homebuyers hoping for relief from soaring home prices in the Tucson area are likely in for a long wait.
According to data from the Home Mortgage Disclosure Act, 91.1% of Tucson homebuyers had a home loan approved for about $215,000 in 2020, the latest figures available. "With everything going on in the world, my stock might be in question," Rogers said."Now I'm going to look at something more stable, maybe a second home or maybe a larger home."
In the Oro Valley area, the average home sale was $460,453, a nearly 12% hike in 12 months. And central Tucson, which includes downtown and the University of Arizona, saw average home prices of $351,956 in January 2022 versus $266,739 a year earlier — a 19.6% increase. "We can't put up a wall around us and say, 'Don't come here.'" Rogers said."There's a lot of frustration because those who want to help with the housing crunch get turned away or have to go back to the drawing board.Contact reporter Gabriela Rico at [email protected]
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