Tucson, AZ – Real Estate Market Data – September 2012
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September Property sales were 716, down 21.0% from 906 in September of 2011 and 26.4% lower than the 973 sales last month. September 2012 sales were at a mid level compared to September of 2011 and 2010. September YTD sales of 8,279 are running 5.2% ahead of last year’s year-to-date sales of 7,867.
The Median Sales Price in September was $139,950, up 25.1% from $111,858 in September of 2011 and down 1.4% from $142,000 last month. The Average Sales Price in September was $175,190, up 20.7% from $145,159 in September of 2011 and down 1.0% from $177,029 last month. September 2012 ASP was at a mid range compared to September of 2011 and 2010.
The Total Inventory of Properties available for sale as of September was 2,968, down 12.9% from 3,407 last month and down 38.2% from 4,802 in September of last year. September 2012 Inventory was at its lowest level compared with September of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2012 MSI of 4.1 months was at its lowest level compared with September 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 September was 83, down 7.8% from 90 days last month and down 17.8% from 101 days in September of last year. The September 2012 DOM was at its lowest level compared with September 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.