Tucson East, AZ – Real Estate Market Data – August 2012
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August Property sales were 100, up 19.0% from 84 in August of 2011 and the same as the 100 sales last month. August 2012 sales were at their highest level compared to August of 2011 and 2010. August YTD sales of 794 are running 25.0% ahead of last year’s year-to-date sales of 635.
The Median Sales Price in August was $129,450, up 4.6% from $123,700 in August of 2011 and up 5.6% from $122,625 last month. The Average Sales Price in August was $144,553, up 2.7% from $140,779 in August of 2011 and up 8.7% from $132,922 last month. August 2012 ASP was at a mid range compared to August of 2011 and 2010.
The Total Inventory of Properties available for sale as of August was 273, down 14.7% from 320 last month and down 43.7% from 485 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 2.7 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 93, down 7.0% from 100 days last month and equal to 93 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.