Tucson Northwest AZ – Real Estate Market Data – February 2012
Click here for full report – Tucson Northwest 2012-02
February Property sales were 259, up 4.4% from 248 in February of 2011 and 17.2% higher than the 221 sales last month. February 2012 sales were at their highest level compared to February of 2011 and 2010. February YTD sales of 480 are running 7.4% ahead of last year’s year-to-date sales of 447.
The Median Sales Price in February was $169,000, down 8.8% from $185,250 in February of 2011 and up 2.4% from $165,000 last month. The Average Sales Price in February was $192,986, down 12.9% from $221,651 in February of 2011 and down 4.4% from $201,894 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 1,534, down 7.7% from 1,662 last month and down 25.7% from 2,065 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 5.9 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 112, down 5.1% from 118 days last month and down 2.6% from 115 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.