Tucson East AZ – Real Estate Market Data – December 2011

Tucson East AZ – Real Estate Market Data – December 2011

Click here for full report – Tucson East 2011-12

Property Sales

December Property sales were 94, up 70.9% from 55 in December of 2010 and 22.1% higher than the 77 sales last month. December 2011 sales were at their highest level compared to December of 2010 and 2009. December YTD sales of 984 are running 16.0% ahead of last year’s year-to-date sales of 848.

Prices

The Median Sales Price in December was $106,575, down 14.1% from $124,000 in December of 2010 and down 12.6% from $122,000 last month. The Average Sales Price in December was $114,787, down 7.1% from $123,591 in December of 2010 and down 19.0% from $141,699 last month. December 2011 ASP was at the lowest level compared to December of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of December was 388, down 9.3% from 428 last month and down 20.0% from 485 in December of last year. December 2011 Inventory was at its lowest level compared with December of 2010 and 2009. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 4.1 months was at its lowest level compared with December 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 December was 97, equal to 97 days last month and down 9.3% from 107 days in December of last year. The December 2011 DOM was at its lowest level compared with December 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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