El Mirage, AZ – Real Estate Market Data – August 2012
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August Property sales were 59, down 21.3% from 75 in August of 2011 and the same as the 59 sales last month. August 2012 sales were at their lowest level compared to August of 2011 and 2010. August YTD sales of 461 are running 30.5% behind last year’s year-to-date sales of 663.
The Median Sales Price in August was $91,030, up 40.0% from $65,000 in August of 2011 and down 1.1% from $92,000 last month. The Average Sales Price in August was $92,118, up 38.6% from $66,487 in August of 2011 and up 2.7% from $89,655 last month. August 2012 ASP was at the highest level compared to August of 2011 and 2010.
The Total Inventory of Properties available for sale as of August was 111, down 9.8% from 123 last month and down 24.5% from 147 in August of last year. August 2012 Inventory was at its lowest level compared with August of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2012 MSI of 1.9 months was at its lowest level compared with August 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 August was 35, up 45.8% from 24 days last month and down 60.2% from 88 days in August of last year. The August 2012 DOM was at its lowest level compared with August 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.
