Tucson South AZ – Real Estate Market Data – September 2011

Tucson South AZ – Real Estate Market Data – September 2011

Click here for full report – Tucson South 2011-09

Property Sales

September Property sales were 121, up 22.2% from 99 in September of 2010 and 12.0% higher than the 108 sales last month. September 2011 sales were at their highest level compared to September of 2010 and 2009. September YTD sales of 906 are running 9.7% ahead of last year’s year-to-date sales of 826.

Prices

The Median Sales Price in September was $72,100, down 27.9% from $100,000 in September of 2010 and up 1.5% from $71,000 last month. The Average Sales Price in September was $71,870, down 24.2% from $94,755 in September of 2010 and down 6.5% from $76,879 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 335, down 17.3% from 405 last month and down 37.0% from 532 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 2.8 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 95, up 28.4% from 74 days last month and up 28.4% from 74 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.

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 Tucson 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