Tucson Northwest AZ – Real Estate Market Data – August 2011
Click here for full report – Tucson Northwest 2011-08
August Property sales were 267, up 20.8% from 221 in August of 2010 and 7.6% lower than the 289 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 2,178 are running 9.8% ahead of last year’s year-to-date sales of 1,984.
The Median Sales Price in August was $166,000, down 13.1% from $191,000 in August of 2010 and down 3.5% from $172,000 last month. The Average Sales Price in August was $194,949, down 13.5% from $225,460 in August of 2010 and down 9.9% from $216,448 last month. August 2011 ASP was at the lowest level compared to August of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of August was 1,447, down 7.8% from 1,569 last month and down 27.7% from 2,001 in August of last year. August 2011 Inventory was at its lowest level compared with August of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2011 MSI of 5.4 months was at its lowest level compared with August 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 August was 91, down 10.8% from 102 days last month and down 5.2% from 96 days in August of last year. The August 2011 DOM was at a mid level compared with August 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.