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You are here: Home / Blog / Market Trends

What’s the housing market like in Green Valley?

June 1, 2022

What's the housing market like in Green Valley?

Once you’re in the market to buy or sell a home, you’re going to notice every little thing you hear about the housing market.

It could be on the TV, a headline or article online, friends, family, coworkers — everyone has an opinion on how the real estate market is doing. The problem is, most of what you hear is based upon national data, trends, and statistics. Even if it’s “local” insight, it’s often still too broad and general.

Real estate markets are very localized. They vary between towns and cities, and from one neighborhood or price range to the next. But, like many other areas around the country, the real estate is seeing some cooling due to rising inflation, interest rates and fears of a recession. That said, the housing market in Green Valley is still healthy and “statistically” a “sellers market” due to continued buyer demand and low inventory.

May 2022 Statistics

For the month of May 2022, the median days on market in Green Valley was just 6 days. The median sales price was just under $300,000 down slightly from the prior month. The overall low inventory will continue to keep prices steady across most price points.

Inventory, the key indicator, was up slightly at 102 active listings as of June 1. Buyer activity has begun to cool slightly, partly due to seasonality, and partly due to rising interest rates. However, the “absorption rate” (supply of homes) remains under 30 days.

Generally, an absorption rate of less than 3-4 months indicates a sellers market; an absorption rate of 5-7 signals a balanced market, and 8-9 months or more indicates a buyers market. The absorption rate in Green Valley has not been higher than a 2 month supply of homes since May of 2020.

The median sold-to-list price, another key indicator, has held steady at 100 percent for more than a year, indicting little movement on price. Over the coming summer months, we are likely to see a deceleration in pricing as a result of interest rates and rising inflation. But with continued low inventory and moderate demand, there is unlikely to be any significant change in the market over the next few months.

Interest Rates

Meanwhile, mortgage interest rates held steady at over 5 percent in May, and rate increases by the Feds in June may tip mortgage interest rates to over 6 percent. Rates have increased steadily since the start of the year, and may impact the rate of sales over the next several months.

Bottom line: Don’t base your mindset or decisions on what you casually hear from day to day, or read in the headlines. Regardless of interest rate increases in 2022 and tight inventory, home purchase affordability is still in a historically good place!

Whether you’re thinking about buying or selling in Green Valley, I’m happy to discuss current market conditions specific to the price range and neighborhood(s) you’re shopping or selling in.

Filed Under: Market Trends Tagged With: Buyer's Guide, Seller's Guide

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"Russ Fortuno did an exceptional job from start to finish! Any time we had a question, he made us feel comfortable calling or emailing him and got us an answer immediately!"
- R.L., Palmer MI
"As Real Estate Brokers in Hawaii for more than 40 years, we know how important a good agent is when looking to buy property when you can’t be there. After seeing a property listed by Russ, we called and talked with him. He came across as very knowledgeable, competent, helpful, and friendly so we asked Russ to send us new listings for the type of property we were looking for, which he did. When a property came up that we liked we contacted Russ and had him arrange to show the place to our son who lives in Green Valley. Everything looked great so we had Russ write and present our offer, which was accepted. Russ followed through with everything required and kept us up to date each step through escrow and the final closing. We are very happy with how Russ treated us and made sure everything got done when it needed to be done. Every step of this purchase was handled by phone and email. We recommend Russ to everyone looking for a good agent to represent them in Real Estate."
- J.H., Anchorage AK
"Russ knows all the ins and outs of Sonora at Rancho Sahuarita and his knowledge was really helpful. I had already moved out of the area and he had good people lined up to fix up the minor things that were required in the inspection. "
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
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