Tucson Extended Southwest, AZ – Real Estate Market Data – August 2012
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August Property sales were 29, up 26.1% from 23 in August of 2011 and 38.1% higher than the 21 sales last month. August 2012 sales were at their highest level compared to August of 2011 and 2010. August YTD sales of 287 are running 11.7% ahead of last year’s year-to-date sales of 257.
The Median Sales Price in August was $99,900, down 15.7% from $118,500 in August of 2011 and down 33.4% from $150,000 last month. The Average Sales Price in August was $128,995, up 2.2% from $126,162 in August of 2011 and down 21.9% from $165,119 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 196, down 3.0% from 202 last month and down 20.3% from 246 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 6.8 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 159, down 0.6% from 160 days last month and up 42.0% from 112 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.
