If you see it and like it — then buy it fast!
The land market in Tucson is just as hot as the weather. And although May 2021 saw an uptick in median lot prices, up from 48% compared to last year, the land is selling faster.
Land sold exponentially better in May this year than last year — The Tucson Lot and Land market announced this growth in the May 2021 report. It proclaimed 109 closings in May 2021, a 252% increase from May 2020. Year-to-date 2021 there were 624 closings, a 259% increase from year-to-date 2020. Months of Inventory was 7.5, up from 43.6 in May 2020. The median price of sold lots was $125,096 for the month of May 2021, up 48% from May 2021. The Tucson Lot and Land area had 121 new properties under contract in May 2021, up 105% from May 2021.
The only decrease May 2021 saw was active inventory, reported at 821, a 39% decrease from May 2020. Demand for property is remarkably high and inventory is low, so prices are increasing to keep up with demand.
For four decades, Fairfield Homes has built some of Southern Arizona’s most highly sought-after, master-planned communities. We select the land for our communities with a focus on showcasing all the surrounding natural beauty.
We build every home with uncompromised craftsmanship, tailored customization, and optimized breathtaking views to make your home a paradise.
If you’re looking to build a dream home on your dream property in Tucson, look no further than our semi-custom and custom homes!