Tucson South AZ – Real Estate Market Data – March 2012

Tucson South AZ – Real Estate Market Data – March 2012

Click here for full report – Tucson South 2012-03

To search for real estate throughout Arizona, go to www.AZmoves.com

Property Sales

March Property sales were 102, down 2.9% from 105 in March of 2011 and 27.5% higher than the 80 sales last month. March 2012 sales were at their lowest level compared to March of 2011 and 2010. March YTD sales of 258 are running 12.7% ahead of last year’s year-to-date sales of 229.

Prices

The Median Sales Price in March was $77,255, down 9.1% from $85,000 in March of 2011 and up 4.5% from $73,944 last month. The Average Sales Price in March was $82,793, down 2.7% from $85,088 in March of 2011 and up 4.9% from $78,950 last month. March 2012 ASP was at the lowest level compared to March of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of March was 253, down 16.2% from 302 last month and down 49.6% from 502 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 2.5 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 88, up 31.3% from 67 days last month and down 4.3% from 92 days in March of last year. The March 2012 DOM was at a mid level compared with March of 2011 and 2010.

To search for real estate throughout Arizona, go to www.AZmoves.com

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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