Tempe AZ – Real Estate Market Data – January 2012
Click here for full report – Tempe 2012-01
January Property sales were 145, up 29.5% from 112 in January of 2011 and 4.6% lower than the 152 sales last month. January 2012 sales were at their highest level compared to January of 2011 and 2010. January YTD sales of 145 are running 29.5% ahead of last year’s year-to-date sales of 112.
The Median Sales Price in January was $128,000, up 5.8% from $121,000 in January of 2011 and up 6.2% from $120,500 last month. The Average Sales Price in January was $152,839, up 6.3% from $143,726 in January of 2011 and up 7.9% from $141,601 last month. January 2012 ASP was at a mid range compared to January of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of January was 429, down 4.0% from 447 last month and down 49.4% from 848 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 3.0 months was at its lowest level compared with January of 2011 and 2010.
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 49, down 16.9% from 59 days last month and down 39.5% from 81 days in January of last year. The January 2012 DOM was at its lowest 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.