Oro Valley AZ – Real Estate Market Data – November 2011
Click here for full report – Oro Valley 2011-11
November Property sales were 49, up 25.6% from 39 in November of 2010 and 19.5% higher than the 41 sales last month. November 2011 sales were at a mid level compared to November of 2010 and 2009. November YTD sales of 554 are running 1.3% ahead of last year’s year-to-date sales of 547.
The Median Sales Price in November was $237,500, up 8.9% from $218,000 in November of 2010 and up 5.6% from $225,000 last month. The Average Sales Price in November was $327,749, up 22.8% from $266,913 in November of 2010 and up 23.0% from $266,355 last month. November 2011 ASP was at the highest level compared to November of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of November was 394, down 4.8% from 414 last month and down 20.6% from 496 in November of last year. November 2011 Inventory was at its lowest level compared with November of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2011 MSI of 8.0 months was at its lowest level compared with November 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 November was 104, down 5.5% from 110 days last month and up 10.6% from 94 days in November of last year. The November 2011 DOM was at a mid level compared with November 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.