Tucson Central AZ – Real Estate Market Data – June 2011

Click here for full report – Tucson Central 2011-06

Property Sales

June Property sales were 184, up 19.5% from 154 in June of 2010 and 5.7% higher than the 174 sales last month. June 2011 sales were at their highest level compared to June of 2010 and 2009. June YTD sales of 815 are running 1.1% ahead of last year’s year-to-date sales of 806.

Prices

The Median Sales Price in June was $110,125, down 11.9% from $125,000 in June of 2010 and up 2.0% from $108,000 last month. The Average Sales Price in June was $149,185, up 3.3% from $144,416 in June of 2010 and up 13.2% from $131,747 last month. June 2011 ASP was at a mid range compared to June of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of June was 809, down 13.3% from 933 last month and down 21.2% from 1,027 in June of last year. June 2011 Inventory was at its lowest level compared with June of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2011 MSI of 4.4 months was at its lowest level compared with June of 2010 and 2009.

Market Time

The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for June was 94, up 14.6% from 82 days last month and up 49.2% from 63 days in June of last year. The June 2011 DOM was at a mid level compared with June of 2010 and 2009.

Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

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About azrelocation

Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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