Tempe, AZ – Real Estate Market Data – July 2012
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July Property sales were 186, down 17.0% from 224 in July of 2011 and 18.4% lower than the 228 sales last month. July 2012 sales were at a mid level compared to July of 2011 and 2010. July YTD sales of 1,339 are running 2.8% ahead of last year’s year-to-date sales of 1,303.
The Median Sales Price in July was $161,050, up 39.4% from $115,500 in July of 2011 and down 3.3% from $166,500 last month. The Average Sales Price in July was $196,481, up 41.8% from $138,566 in July of 2011 and up 0.6% from $195,390 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 371, up 6.3% from 349 last month and down 23.5% from 485 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 2.0 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 47, up 20.5% from 39 days last month and down 36.5% from 74 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.