Pima County, AZ – Real Estate Market Data – November 2014

Property Sales
November property sales were 938, down 2.5% from 962 in November of 2013 and 15.6% lower than the 1,111 sales last month. November 2014 sales were at their lowest level compared to November of 2013 and 2012. November YTD sales of 12,702 are running 7.3% behind last year’s year-to-date sales of 13,702.

Prices
The Median Sales Price in November was $165,000, up 0.1% from $164,895 in November of 2013 and down 1.8% from $168,000 last month. The Average Sales Price in November was $206,909, up 5.2% from $196,650 in November of 2013 and down 1.7% from $210,395 last month. November 2014 ASP was at the highest level compared to November of 2013 and 2012.

Inventory and MSI
The Total Inventory of Properties available for sale as of November was 6,375, down 5.2% from 6,726 last month and down 5.6% from 6,756 in November of last year. November 2014 Inventory was at a mid level compared with November of 2013 and 2012.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2014 MSI of 6.8 months was at a mid level compared with November of 2013 and 2012.

Market Time
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 85, down 10.5% from 95 days last month and up 6.3% from 80 days in November of last year. The November 2014 DOM was at a mid level compared with November of 2013 and 2012.

Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The November 2014 Selling Price per Square Foot of $108 was down 2.5% from $110 last month and up 1.6% from 106 in November of last year.

Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The November 2014 Selling Price vs Original List Price of 97.6% was up from 97.0% last month and up from 97.2% in November of last year.

Click here for full report – Market Action Report Pima County – Tucson

To search for real estate in Pima County, go to www.AZmoves.com – Pima County

To search for real estate throughout Arizona, go to www.AZmoves.com

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.

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Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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