The median price for a home in Pima County is well below what it was 10 years ago, a new report shows.
As of March, the median price in the county was $144,000, which is 36 percent lower than it was at its recent peak in June 2006: $227,000, according to data from RealtyTrac.
Pima County is not alone in seeing a large drop from its 10-year average, according to the report. Nearly half of the counties in the nation were 30 percent or more under their high point.
The lower prices may be the new norm for homes in Pima County, while some rebound is occurring, a real estate industry official said.
“We’re seeing a nice slow, stable increase," said Kim Clifton, president of the Tucson Association of Realtors. "The prices are rising slowly and we’re starting to stabilize and flatten.”
Pima County's low point came in October 2011, when the median sales price for a home fell to $120,000.
Since that time, the price has risen 20 percent.