Tucson North, AZ – Real Estate Market Data – August 2012
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August Property sales were 114, up 58.3% from 72 in August of 2011 and 25.3% higher than the 91 sales last month. August 2012 sales were at their highest level compared to August of 2011 and 2010. August YTD sales of 795 are running 14.9% ahead of last year’s year-to-date sales of 692.
The Median Sales Price in August was $280,000, up 9.8% from $255,000 in August of 2011 and down 9.0% from $307,700 last month. The Average Sales Price in August was $347,589, up 14.5% from $303,470 in August of 2011 and down 9.0% from $381,964 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 414, down 10.6% from 463 last month and down 29.8% from 590 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 3.6 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 103, down 8.0% from 112 days last month and down 18.9% from 127 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.