Tucson AZ – Real Estate Market Data – October 2011

Tucson AZ – Real Estate Market Data – October 2011

Click here for full report – Tucson 2011-10

Property Sales

October Property sales were 736, up 17.9% from 624 in October of 2010 and 18.0% lower than the 898 sales last month. October 2011 sales were at a mid level compared to October of 2010 and 2009. October YTD sales of 8,558 are running 13.1% ahead of last year’s year-to-date sales of 7,569. 

Prices

The Median Sales Price in October was $115,050, down 14.7% from $134,950 in October of 2010 and up 2.9% from $111,858 last month. The Average Sales Price in October was $151,652, down 9.0% from $166,638 in October of 2010 and up 4.6% from $145,026 last month. October 2011 ASP was at the lowest level compared to October of 2010 and 2009. 

Inventory & MSI

The Total Inventory of Properties available for sale as of October was 4,088, down 8.8% from 4,483 last month and down 33.7% from 6,164 in October of last year. October 2011 Inventory was at its lowest level compared with October of 2010 and 2009. 

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2011 MSI of 5.6 months was at its lowest level compared with October 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 October was 92, down 8.9% from 101 days last month and down 1.1% from 93 days in October of last year. The October 2011 DOM was at a mid level compared with October 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.

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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.
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