Tucson Northeast AZ – Real Estate Market Data – July 2011

Tucson Northeast AZ – Real Estate Market Data – July 2011

Tucson Northeast AZ - Real Estate Market Data - July 2011Click here for full report – Tucson Northeast 2011-07

Property Sales

July Property sales were 36, down 16.3% from 43 in July of 2010 and 30.8% lower than the 52 sales last month. July 2011 sales were at their lowest level compared to July of 2010 and 2009. July YTD sales of 325 are running 5.9% ahead of last year’s year-to-date sales of 307.

Prices

The Median Sales Price in July was $234,000, down 2.5% from $239,900 in July of 2010 and down 4.0% from $243,750 last month. The Average Sales Price in July was $268,414, down 7.0% from $288,737 in July of 2010 and down 4.2% from $280,181 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 354, down 4.6% from 371 last month and down 19.9% from 442 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 9.8 months was at a mid level compared with July 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 July was 107, down 2.7% from 110 days last month and up 8.1% from 99 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.

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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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