Tucson AZ – Real Estate Market Data – January 2012

Tucson AZ – Real Estate Market Data – January 2012

Click here for full report – Tucson 2012-01

Property Sales

January Property sales were 686, up 9.6% from 626 in January of 2011 and 13.6% lower than the 794 sales last month. January 2012 sales were at their highest level compared to January of 2011 and 2010. January YTD sales of 686 are running 9.6% ahead of last year’s year-to-date sales of 626.

Prices

The Median Sales Price in January was $120,000, down 7.7% from $130,000 in January of 2011 and up 4.3% from $115,000 last month. The Average Sales Price in January was $153,559, down 7.1% from $165,280 in January of 2011 and down 3.9% from $159,850 last month. January 2012 ASP was at the lowest level compared to January of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of January was 3,722, down 10.9% from 4,177 last month and down 38.0% from 6,001 in January of last year. January 2012 Inventory was at its lowest level compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2012 MSI of 5.4 months was at its lowest level compared with January of 2011 and 2010.

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 January was 104, up 4.0% from 100 days last month and up 1.0% from 103 days in January of last year. The January 2012 DOM was at a mid level compared with January of 2011 and 2010.

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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