Tucson Market Stats
Latest Data Available is from August 2008.
Overview
Citywide in August, the average sales price took a decent dip, down to $246,084, the second largest month-to-month percent change in average sales price that we’ve seen since I started tracking numbers at the start of 2006. I looked at the distribution of sales per price range, and they shifted a little bit towards the lower end this month, with nearly a 10% increase in the number of sales under $100,000, and there were fewer sales in the $200-$350k ranges in August. We also see this shift as the median moves down to $189,375.
There are anticipated changes in FHA financing and down payment assistance is going away very shortly – we’ll see that impact in those lower price ranges as buyers who need a little help to get into a home can no longer get those programs.
By housing type: a single family home average sale price was $270,889, a townhome was $159,904, and a condo cost you $131,687 in August.
The number of sales was 806 units – interestingly, the number of home and condo sales stayed about the same, while townhomes took a hit in August, bumping up to 11 months of townhome inventory as well from 9 last month.
Months of Inventory is steady compared to last month, when normally we’d be on an upward swing, according to our seasonal trend. Since inventory went down in August, and sales only went down a little, we get a level months of inventory, or absorbtion rate.
If you look at the figures for the Southwest part of Tucson, you’ll see a tick up in average sales price. However, there’s a million dollar sale in that area, which is quite unusual. If you take out the million dollar sale, the average sales price actually drops from last month, to $158,883.
Don’t forget to look at the individual areas of the city by clicking on the links to those areas near the top of the page under the Tucson Market Stats link. Not only is all real estate local, but it can vary widely from one side of this city to the other.
Citywide Average and Median Sales Price
Citywide Active Listings, Pending Transactions, and Sales
Citywide Months of Inventory
See Market Statistics Reports for:
Statistics provided here are compiled using data provided by the Tucson Association of Realtors Multiple Listing Service. Areas are limited to Greater Tucson, which includes the NW, N, NE, W, C, E, SW, S, and SE only. No extended areas are used in compiling these statistics. Data is deemed reliable, but not guaranteed.
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