Tucson Southwest, AZ – Real Estate Market Data – August 2012
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August Property sales were 60, down 37.5% from 96 in August of 2011 and 1.7% higher than the 59 sales last month. August 2012 sales were at their lowest level compared to August of 2011 and 2010. August YTD sales of 559 are running 12.7% behind last year’s year-to-date sales of 640.
The Median Sales Price in August was $88,950, up 3.1% from $86,290 in August of 2011 and down 7.3% from $96,000 last month. The Average Sales Price in August was $104,992, up 2.4% from $102,570 in August of 2011 and up 0.1% from $104,921 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 144, down 26.9% from 197 last month and down 61.1% from 370 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 2.4 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 86, down 4.4% from 90 days last month and down 16.5% from 103 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.