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Which Price Ranges are Selling?

April 8, 2008 | By Kelley Koehler | Filed Under Market Reports 

March Market stats should be coming out soon from the Tucson MLS, and I’ll be calculating my own here shortly.  I was curious though: since there are fewer sales than are typical, which price brackets are selling?

This is March sales from 2007 and 2008, single family homes only.  You can see the bulk of home sales are in the couple of brackets just on either side of $200,000-$250,000 price range, which would be expected given our average sales price and the typical Tucson home.

Look at those high end sales though.  Not much difference between this year and last.

The big difference is right at that $200k-$250k mark.  That’s the biggest change, where fewer homes are selling this year compared to last.

Which is what you’d expect, right?  With the recent financing changes making money a little tighter for the average person, you’d expect the average home price to be where fewer homes will sell.  The people buying high end homes probably have cash to do so, or a large down payment. 

Interesting.  The market hasn’t scaled down evenly overall.  That’s something I knew intuitively by being in the market, but seeing real numbers to back it up is interesting.

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