Tucson AZ – Real Estate Market Data – September 2011
Click here for full report – Tucson 2011-09
September Property sales were 861, up 22.6% from 702 in September of 2010 and 1.4% lower than the 873 sales last month. September 2011 sales were at their highest level compared to September of 2010 and 2009. September YTD sales of 7,776 are running 12.0% ahead of last year’s year-to-date sales of 6,944.
The Median Sales Price in September was $112,000, down 20.0% from $140,000 in September of 2010 and down 3.0% from $115,500 last month. The Average Sales Price in September was $145,943, down 17.4% from $176,706 in September of 2010 and down 5.4% from $154,212 last month. September 2011 ASP was at the lowest level compared to September of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of September was 4,013, down 11.9% from 4,556 last month and down 33.5% from 6,035 in September of last year. September 2011 Inventory was at its lowest level compared with September of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2011 MSI of 4.7 months was at its lowest level compared with September 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 September was 100, up 6.4% from 94 days last month and up 11.1% from 90 days in September of last year. The September 2011 DOM was at a mid level compared with September 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.