Tempe AZ – Real Estate Market Data – July 2011
Click here for full report – Tempe 2011-07
July Property sales were 225, up 42.4% from 158 in July of 2010 and 12.1% lower than the 256 sales last month. July 2011 sales were at their highest level compared to July of 2010 and 2009. July YTD sales of 1,305 are running 31.4% ahead of last year’s year-to-date sales of 993.
The Median Sales Price in July was $115,000, down 24.1% from $151,500 in July of 2010 and down 5.7% from $122,000 last month. The Average Sales Price in July was $138,128, down 25.8% from $186,067 in July of 2010 and down 5.3% from $145,885 last month. July 2011 ASP was at the lowest level compared to July of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of July was 534, down 0.7% from 538 last month and down 45.1% from 973 in July of last year. July 2011 Inventory was at its lowest level compared with July of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2011 MSI of 2.4 months was at its lowest level compared with July of 2010 and 2009.
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 July was 74, up 19.4% from 62 days last month and up 27.6% from 58 days in July of last year. The July 2011 DOM was at a mid level compared with July 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.