Mesa, AZ – Real Estate Market Data – July 2012
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July Property sales were 613, down 16.3% from 732 in July of 2011 and 19.0% lower than the 757 sales last month. July 2012 sales were at a mid level compared to July of 2011 and 2010. July YTD sales of 4,961 are running 9.5% behind last year’s year-to-date sales of 5,481.
The Median Sales Price in July was $136,500, up 36.0% from $100,388 in July of 2011 and down 1.1% from $138,000 last month. The Average Sales Price in July was $166,286, up 33.7% from $124,397 in July of 2011 and down 0.6% from $167,221 last month. July 2012 ASP was at the highest level compared to July of 2011 and 2010.
The Total Inventory of Properties available for sale as of July was 1,419, up 6.3% from 1,335 last month and down 31.5% from 2,073 in July of last year. July 2012 Inventory was at its lowest level compared with July of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2012 MSI of 2.3 months was at its lowest level compared with July 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 July was 41, down 4.7% from 43 days last month and down 35.9% from 64 days in July of last year. The July 2012 DOM was at its lowest level compared with July 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.