Tucson Northeast, AZ – Real Estate Market Data – October 2012
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October Property sales were 42, up 5.0% from 40 in October of 2011 and 2.4% higher than the 41 sales last month. October 2012 sales were at their highest level compared to October of 2011 and 2010. October YTD sales of 556 are running 20.1% ahead of last year’s year-to-date sales of 463.
The Median Sales Price in October was $232,450, down 3.5% from $241,000 in October of 2011 and up 20.4% from $193,000 last month. The Average Sales Price in October was $267,425, down 6.5% from $285,867 in October of 2011 and up 23.7% from $216,149 last month. October 2012 ASP was at a mid range compared to October of 2011 and 2010.
The Total Inventory of Properties available for sale as of October was 257, down 11.1% from 289 last month and down 36.5% from 405 in October of last year. October 2012 Inventory was at its lowest level compared with October of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2012 MSI of 6.1 months was at its lowest level compared with October 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 October was 101, up 23.2% from 82 days last month and down 11.4% from 114 days in October of last year. The October 2012 DOM was at its lowest level compared with October 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.