El Mirage, AZ – Real Estate Market Data – December 2012
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December Property sales were 62, down 7.5% from 67 in December of 2011 and 12.7% higher than the 55 sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010. December YTD sales of 693 are running 26.9% behind last year’s year-to-date sales of 948.
The Median Sales Price in December was $98,925, up 37.4% from $72,000 in December of 2011 and down 1.1% from $100,000 last month. The Average Sales Price in December was $100,530, up 27.1% from $79,089 in December of 2011 and down 1.6% from $102,183 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 118, up 0.9% from 117 last month and down 12.6% from 135 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 1.9 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 36, up 80.0% from 20 days last month and down 43.8% from 64 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.