Tucson Market Statistics and Report – July 2009
August 23, 2009 | By Kelley Koehler | Filed Under Market Reports
The Quick Numbers:
- Single Family Home Average Sales Price: $227,109
- Single Family Home Median Sales Price: $180,000
- Single Family Home Units Sold: 933
- Single Family Home Months of Inventory: 5.8 months
- Townhouse Average Sales Price: $152,601
- Townhouse Median Sales Price: $132,500
- Townhouse Units Sold: 77
- Townhouse Months of Inventory: 7.1 months
- Condo Average Sales Price: $124,110
- Condo Median Sales Price: $114,400
- Condo Units Sold: 43
- Condo Months of Inventory: 11.2 months
- Citywide Average Sales Price: $217,455
- Citywide Median Sales Price: $170,000
- Citywide Units Sold: 1053
- Citywide Months of Inventory: 6.1 months
Another atypical month in July. Normally, July signals the end of our summer peak – the number of homes sold goes down, the months of inventory levels start to rise, the average sales price starts to drop off as demand slows. Not so, this past July.
Sales were were up a bit over last month, coming in at 1053 units – a volume we haven’t seen in 2 years. If you look at what price points had the most sales, you see that the lower end of the market is what has been moving lately, especially the under $200k range. Lots of first time buyers out there taking advantage of the $8000 tax credit.
The average sale price in Tucson was $217,455, with a median of $170,000. We’ve been dancing in this same price range all year – in fact, January started with a $217,491 average sales price.
The number of homes for sale did drop though, roughly 200 homes fewer for sale than last month. Back in a normal market (anyone remember those years?) inventory used to hover in the 5000-6000 range. July recorded the lowest levels of homes on the market since I started tracking active listings at the start of 2006.
The Southeast part of Tucson had an interesting July, recording the lowest months of inventory at 4.8 months. The average sales price there ticked up a bit too, to $207,117. The Southeast has been hovering in the $190k range for a good 11 months or so. That area is known for the school district though – makes me think the last minute rush to buy a home before the kids start school may have contributed to the uptick there.
Sorry for the delay in the report this month – rearranging some of the back end of the site took a whole lot longer than anticipated!
As always, there are extensive charts and statistics and whatnot, broken down by area and type of housing, over at my Tucson market statistics site. The market in this city varies widely from one end to the other, so you can check out what’s going on in your area over at that section of my site.
Data gathered from the Tucson MLS and is deemed reliable but not guaranteed. Figures quoted here include only single family homes, townhomes, and condos in the 9 areas that make up the Greater Tucson Area: NW, N, NE, W, C, E, SW, S, and SE.
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- Tucson Market Report and Statistics – February 2009 (March 26, 2009)
No podcast today – caught myself a cold and it took my voice. But the stats go on…
The Quick Numbers:
Single Family Home Average Sales Price: $235,819
Single Family Home Median Sales Price: $188,500
Single Family Home Units Sold: 503
Single Family Home Months of Inventory: 12.2 monthsTownhouse Average Sales Price: $170,387
Townhouse Median Sales Price: $143,500
Townhouse Units [...] - Tucson Market Statistics and Report – September 2009 (October 12, 2009)
We’re heading into our Tucson winter slow-down. Activity is actually a little higher than I expected, especially in the lower price ranges. There are lots of buyers out there trying to take advantage of that $8000 tax credit – and they all need to close on a home by the end of November.
- Tucson Market Statistics and Report – August 2009 (September 8, 2009)
The Quick Numbers:
Single Family Home Average Sales Price: $220,065
Single Family Home Median Sales Price: $172,500
Single Family Home Units Sold: 736
Single Family Home Months of Inventory: 7.3 monthsTownhouse Average Sales Price: $154,058
Townhouse Median Sales Price: $130,000
Townhouse Units Sold: 61
Townhouse Months of Inventory: 8.8 monthsCondo Average Sales Price: $109,085
Condo Median Sales Price: $100,000
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We sold our home in July, 2009 and can’t begin to describe how relieved we are. We originally put it on the market about three years ago, but found renters instead. Our renters left suddenly in May, and we put our home back on the market the last of May. Our east-side home was sold in a couple of months (two bidders, btw). So even higher-priced homes are moving.
As a software engineer, I have to compliment you on some very nicely done charts. A lot of laymen don’t understand how much labor lives behind a feature like that. It’s easy to do charts, but it’s not easy to do good charts.