Tucson Northeast, AZ – Real Estate Market Data – November 2012
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November Property sales were 52, up 10.6% from 47 in November of 2011 and 20.9% higher than the 43 sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010. November YTD sales of 543 are running 6.5% ahead of last year’s year-to-date sales of 510.
The Median Sales Price in November was $221,500, down 5.3% from $234,000 in November of 2011 and down 5.3% from $233,900 last month. The Average Sales Price in November was $243,316, down 11.9% from $276,140 in November of 2011 and down 10.9% from $272,997 last month. November 2012 ASP was at the lowest level compared to November of 2011 and 2010.
The Total Inventory of Properties available for sale as of November was 275, down 5.5% from 291 last month and down 26.9% from 376 in November of last year. November 2012 Inventory was at its lowest level compared with November of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2012 MSI of 5.3 months was at its lowest level compared with November 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 November was 83, down 23.9% from 109 days last month and down 26.5% from 113 days in November of last year. The November 2012 DOM was at its lowest level compared with November 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.