Florence AZ – Real Estate Market Data – August 2011

Florence AZ – Real Estate Market Data – August 2011

Click here for full report – Florence 2011-08

Property Sales

August Property sales were 44, up 10.0% from 40 in August of 2010 and 2.2% lower than the 45 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 400 are running 7.0% ahead of last year’s year-to-date sales of 374.

Prices

The Median Sales Price in August was $60,250, down 8.4% from $65,750 in August of 2010 and down 5.7% from $63,900 last month. The Average Sales Price in August was $74,767, down 11.0% from $84,032 in August of 2010 and down 8.9% from $82,090 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 141, up 4.4% from 135 last month and down 44.9% from 256 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 3.2 months was at its lowest level compared with August 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 August was 74, down 8.6% from 81 days last month and up 13.8% from 65 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.

Advertisements

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.
This entry was posted in Greater Phoenix Metro, Market Data and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s