Tucson AZ – Real Estate Market Data – March 2012

Tucson AZ – Real Estate Market Data – March 2012

Click here for full report – Tucson 2012-03

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Property Sales

March Property sales were 1,002, up 12.1% from 894 in March of 2011 and 26.4% higher than the 793 sales last month. March 2012 sales were at their highest level compared to March of 2011 and 2010. March YTD sales of 2,496 are running 14.0% ahead of last year’s year-to-date sales of 2,189.

Prices

The Median Sales Price in March was $127,500, up 7.1% from $119,000 in March of 2011 and up 6.9% from $119,250 last month. The Average Sales Price in March was $167,225, up 5.1% from $159,139 in March of 2011 and up 0.4% from $166,545 last month. March 2012 ASP was at a mid range compared to March of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of March was 3,410, down 19.6% from 4,239 last month and down 41.9% from 5,874 in March of last year. March 2012 Inventory was at its lowest level compared with March of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2012 MSI of 3.4 months was at its lowest level compared with March 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 March was 92, down 6.1% from 98 days last month and down 7.1% from 99 days in March of last year. The March 2012 DOM was at a mid level compared with March of 2011 and 2010.

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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.