Marana, AZ – Real Estate Market Data – August 2012
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August Property sales were 43, up 4.9% from 41 in August of 2011 and 22.9% higher than the 35 sales last month. August 2012 sales were at their highest level compared to August of 2011 and 2010. August YTD sales of 340 are running 3.7% ahead of last year’s year-to-date sales of 328.
The Median Sales Price in August was $180,000, up 4.7% from $172,000 in August of 2011 and down 23.4% from $235,000 last month. The Average Sales Price in August was $270,231, up 42.5% from $189,578 in August of 2011 and up 9.2% from $247,568 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 177, down 16.1% from 211 last month and down 35.9% from 276 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 4.1 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 128, up 50.6% from 85 days last month and up 18.5% from 108 days in August of last year. The August 2012 DOM was at a mid level compared with August 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.