| Tucson real estate update and fun things to do.
|  | Hello Friends,
Hope you're all enjoying this gorgeous May weather! However, I do wish it would not be so windy. I have been running all over town showing homes, land, trying new restaurants and getting to play some night time pickleball. As I meet with friends, clients or new acquaintances the one question that always comes up is:
What is going on with the real estate market?
 I took this on the way to my 100 acre listing last week.
Inventory on the Rise (Slightly!): For the past couple of years, it felt like finding a home to fit one's desire was far and few between. While it's still a neutral market, we're starting to see a slight increase in the number of homes available. This means more choices for buyers, which is always a good thing.
Interest Rates: Interest rates have been a hot topic, and they continue to play a role in affordability. We're seeing a market that's adjusting to these rates, with both buyers and sellers being a bit more strategic in their approach.
Demand Remains Strong: Despite the fluctuations, Tucson continues to be a desirable place to live. Our unique culture, stunning natural beauty and growing job market keep demand healthy across various price points. Such as charming historic bungalows downtown, modern luxury homes, golf communities, master planned communities and vacation homes.
The Rise of the "Hybrid" Buyer: We're seeing more buyers who are open to different types of properties and locations. Perhaps they're considering a slightly further commute for more space or exploring different neighborhoods they might not have considered before. This flexibility is key in the current market!
Tucson's April Real Estate Update
New Listings - 2117
Closed Sales - 1259
Average Days on Market Until Sale - 52 (down 6 days)
Average Sale Price - $454,330
Active Listings - 4771
Months of Supply - 3.79
What's New & Exciting Around Tucson?
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My family and I checked out "The National" last Saturday for brunch. Beautiful pastries, creative food and delicious and inventive drinks. Loved the rustic warehouse modern decor.
One of my family and my favorite thing to do is to explore Tucson and the surrounding areas and to check out all the new fabulous restaurants Tucson has to offer. There are so many hidden treasures to be found. Recently, we visited the Annex Container Complex and St. Augustines Mercado downtown and perused the cute shops. It is nice to see that area starting to flourish.
Downtown Revitalization Continues: Our vibrant downtown continues its exciting transformation! New restaurants, shops, and entertainment venues are popping up, making it an even more lively hub.
Arts and Culture Flourishing: Tucson's rich arts scene is vibrant and growing. From the Tucson Museum of Art to the numerous galleries in the Historic Arts District and breathtaking murals all throughout the community. There's always something inspiring to see.
Outdoor Adventures Abound: With the weather being so glorious right now, it's the perfect time to explore Tucson's incredible outdoor spaces. Whether you enjoy hiking our numerous trails, biking along the Rillito River Path, or simply taking a stroll through the Desert Botanical Garden, there's something for everyone to enjoy. Maybe next full moon take a stroll up Sabino Canyon.
Please share your favorite restaurants and places you love to go to and I will share them in one of my upcoming newsletters.
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Whether you, a friend or colleague is considering buying, selling, or just curious about the local market, I'm here to help!
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Have a wonderful May, and I look forward to connecting with you soon! Diane
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