Oro Valley, AZ – Real Estate Market Data – December 2012
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December Property sales were 40, down 14.9% from 47 in December of 2011 and 28.6% lower than the 56 sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010. December YTD sales of 706 are running 17.1% ahead of last year’s year-to-date sales of 603.
The Median Sales Price in December was $220,000, down 3.3% from $227,500 in December of 2011 and down 13.4% from $254,000 last month. The Average Sales Price in December was $268,167, up 9.8% from $244,130 in December of 2011 and down 2.9% from $276,211 last month. December 2012 ASP was at a mid range compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 294, down 15.8% from 349 last month and down 25.2% from 393 in December of last year. December 2012 Inventory was at its lowest level compared with December of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2012 MSI of 7.4 months was at its lowest level compared with December 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 December was 150, up 72.4% from 87 days last month and up 22.0% from 123 days in December of last year. The December 2012 DOM was at a mid level compared with December 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.