Tucson Southwest AZ – Real Estate Market Data – September 2011
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lick here for full report – Tucson Southwest 2011-09
Property Sales
September Property sales were 88, up 37.5% from 64 in September of 2010 and 7.4% lower than the 95 sales last month. September 2011 sales were at their highest level compared to September of 2010 and 2009. September YTD sales of 725 are running 6.6% ahead of last year’s year-to-date sales of 680.
Prices
The Median Sales Price in September was $82,000, down 21.1% from $103,900 in September of 2010 and down 5.6% from $86,900 last month. The Average Sales Price in September was $83,590, down 20.2% from $104,724 in September of 2010 and down 19.2% from $103,440 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 271, down 16.9% from 326 last month and down 42.8% from 474 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 3.1 months was at its lowest level compared with September 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 September was 90, down 13.5% from 104 days last month and up 4.7% from 86 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.
