North Tucson Real Estate Market Report – January 2010

March 3, 2010 | By Kelley Koehler | Filed Under North Tucson 

Did North Tucson do anything over the last 12 months?  Not a whole lot, turns out.

In January 2010, the average house cost $535,001 with a median of $412,500.

In January 2009, the average house cost $535,563 with a median of $412,000.

Nearly identical.  Of course, that one fact doesn’t mean the market hasn’t moved at all.  It has.  Just slowly, and in a downward direction.

There’s a decent townhome and condo market in North Tucson.  The average townhome cost $281,467 and there was a 7.9 month supply – the townhomes are selling at a decent rate.  Condos, on the other hand, had 15.7 months of inventory – the condo market remains flooded.  The average condo will set you back $146,110 in North Tucson. 

Overall, there were 38 houses, 15 townhomes, and 11 condos that sold in North Tucson, for a total of 65 units sold.  With 822 homes listed, that’s 12.7 months of inventory.  Last January?  Only 31 sales.  Things are moving a little better in our Northern region, even in a slower seasonal month.

Of the 65 sales, 1 was a short sale and and 5 were bank owned homes, making distressed property sales only 9% of the market in North Tucson – I believe that’s the lowest proportion of distressed sale in all of Tucson this month.

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

The raw numbers:

  SFR Townhome Condo All  
  Value Value Value Value %change
Avg LP $905,391 $299,439 $157,447 $660,991 1.5%
Avg SP $535,001 $281,467 $146,110 $408,738 -9.9%
Med SP $412,500 $319,000 $144,000 $342,500 -9.2%
#Listed 531 118 173 822 12.8%
#Sold 38 15 11 65 0%
MOI 14.0 months 7.9 months 15.7 months 12.7 months 12.8%

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