The Tucson, AZ metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has seen a modest increase of 0.3% year-over-year, reaching $370,000. This slight uptick indicates a relatively stable pricing environment, despite broader market fluctuations.

In terms of listing prices, the Median List Price stands at $399,900, reflecting a 0.2% increase from the previous year. The media Price Per Square Foot has risen by 3.1% to $225.33, while the media list Price Per Square Foot has increased by 3.6% to $236.42. These figures suggest a gradual appreciation in property values, albeit at a slower pace compared to previous years.

Sales activity has experienced a downturn, with the number of Homes Sold decreasing by 6.2% year-over-year to 1,055 units. However, Pending Sales have shown a slight improvement, rising by 0.7% to 1,492. This indicates a potential rebound in future sales, as buyers continue to express interest in the market.

New Listings have decreased by 3.2% year-over-year, totaling 1,415. Meanwhile, inventory levels have surged by 18.1%, reaching 4,393 units. This increase in inventory, coupled with a 90.0% rise in Months of Supply to 4.20, suggests a shift towards a more balanced market, providing buyers with more options and potentially easing upward pressure on prices.

The Median Days on Market have increased by 12.0% to 76 days, indicating that homes are taking longer to sell. This trend is further supported by the average sale to list ratio, which has remained relatively stable at 98.3%, with a slight year-over-year increase of 0.1%. The percentage of Homes Sold above list price has declined by 3.6% to 13.9%, reflecting a cooling in competitive bidding scenarios.

Price Drops have become more prevalent, with a 7.8% increase year-over-year, affecting 33.2% of listings. Additionally, the percentage of homes going off the market within two weeks has decreased by 5.0% to 28.2%, suggesting a more deliberate pace in buyer decision-making.

Overall, the Tucson housing market in February 2025 is characterized by stable pricing, increased inventory, and a more measured pace of sales. While some metrics indicate a cooling market, others suggest potential opportunities for both buyers and sellers as the market continues to adjust to evolving conditions.