Tucson South AZ – Real Estate Market Data – September 2011
Click here for full report – Tucson South 2011-09
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.
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.
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.