East Tucson Real Estate Market Report – January 2010

February 26, 2010 | By Kelley Koehler | Filed Under East Tucson 

East Tucson continues a slow decline as we see the seasonal effect of a slower market in January, as we do every January. 

The average house price was $166,786, with a median of $158,500.  That’s down roughly $4k from last month and about $13k from last year at this time.  In January 2009, the average house cost $181,074 with a median of $162,750.

There were a handful of townhomes and condos that sold in East Tucson.  An average townhome cost $124,075 while a condo was $99,133.

Sales were down as well, but that is typical for the season.  There were 37 houses that sold, along with 8 townhomes and 3 condos, for a total of 48 units.  With 534 units listed, that means there is 11.1 months of inventory.  With only one in roughly eleven homes selling in the month, there is a lot of competition for the limited number of buyers.

Out of those 48 homes that sold, 9 were short sales and 13 were bank owned homes.  That makes distressed property nearly 46% of the housing market in East Tucson.

You can always see the chart versions of this data too, at my East Tucson Market page.

The raw numbers:

  SFR Townhome Condo All  
  Value Value Value Value %change
Avg LP $213,566 $122,782 $71,500 $186,485 -3.8%
Avg SP $166,786 $124,075 $99,133 $158,201 -1.8%
Med SP $158,500 $119,500 $90,000 $149,250 -1.6%
#Listed 410 65 60 534 18.4%
#Sold 37 8 3 48 -7.7%
MOI 11.1 months 8.1 months 20 months 11.1 months 28.3%

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