Tucson Real Estate Overview
Tucson real estate prices started to rise in 2003 and spiked in 2006 just as prices in most other cities in the United States. In 2002, you could buy a home in Tucson for about $118,000 and by 2006, that home might have sold for $196,000. But now, home prices have fallen and the median sales price for a home in Tucson is now $123,000. So, it is possible that a person who bought a home in 2002 can sell today for a profit, but those who bought during the years between 2004 and 2009 may be in a situation where the mortgage on the home is more than today's current value. It is these homes that are likely to be listed for sale today as foreclosures or as short sales.
Many people who buy a home in Tucson are interested in the unique architecture of the area that reflects Tucson's history and desert location. Territorial style homes, reminiscent of the Tucson before statehood in 1912 are known for their low cost maintenance. The Santa Fe is the home style inspired by Pueblo Indians and what most associate with Tucson. However, Tucson homes come in ranch and contemporary style as well.
Tucson property includes homes, condos, multi-family homes as well as ranches and farms. With many days of warm sunshine, Tucson is an ideal location for those who desire the western experience.