Tucson Southwest, AZ – Real Estate Market Data – December 2012
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December Property sales were 59, down 27.2% from 81 in December of 2011 and 18.0% higher than the 50 sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010. December YTD sales of 795 are running 19.1% behind last year’s year-to-date sales of 983.
The Median Sales Price in December was $103,000, up 16.4% from $88,500 in December of 2011 and down 5.9% from $109,450 last month. The Average Sales Price in December was $110,453, up 24.7% from $88,601 in December of 2011 and up 1.9% from $108,416 last month. December 2012 ASP was at the highest level compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 164, down 16.8% from 197 last month and down 52.2% from 343 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 2.8 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 78, down 23.5% from 102 days last month and down 24.3% from 103 days in December of last year. The December 2012 DOM was at its lowest 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.