Tucson Southwest, AZ – Real Estate Market Data – October 2012
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October Property sales were 56, down 34.9% from 86 in October of 2011 and 9.7% lower than the 62 sales last month. October 2012 sales were at a mid level compared to October of 2011 and 2010. October YTD sales of 682 are running 16.5% behind last year’s year-to-date sales of 817.
The Median Sales Price in October was $120,800, up 48.2% from $81,500 in October of 2011 and up 21.6% from $99,350 last month. The Average Sales Price in October was $120,918, up 41.6% from $85,376 in October of 2011 and down 4.4% from $126,517 last month. October 2012 ASP was at the highest level compared to October of 2011 and 2010.
The Total Inventory of Properties available for sale as of October was 149, down 19.9% from 186 last month and down 58.3% from 357 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 2.7 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 88, down 7.4% from 95 days last month and up 6.0% from 83 days in October of last year. The October 2012 DOM was at a mid 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.