Tucson AZ – Real Estate Market Data – February 2012
Click here for full report – Tucson 2012-02
February Property sales were 768, up 14.8% from 669 in February of 2011 and 9.7% higher than the 700 sales last month. February 2012 sales were at their highest level compared to February of 2011 and 2010. February YTD sales of 1,468 are running 13.4% ahead of last year’s year-to-date sales of 1,295.
The Median Sales Price in February was $119,000, down 8.5% from $130,000 in February of 2011 and down 0.8% from $120,000 last month. The Average Sales Price in February was $166,780, down 6.5% from $178,322 in February of 2011 and up 8.5% from $153,727 last month. February 2012 ASP was at the lowest level compared to February of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 3,633, down 15.3% from 4,288 last month and down 39.7% from 6,022 in February of last year. February 2012 Inventory was at its lowest level compared with February of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2012 MSI of 4.7 months was at its lowest level compared with February 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 February was 98, down 6.7% from 105 days last month and down 5.8% from 104 days in February of last year. The February 2012 DOM was at a mid level compared with February 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.