West Tucson Real Estate Market Report – January 2010

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

The average sale price for single family homes in West Tucson took a $25k jump over last month – but don’t be deceived. You can see that not a whole lot of high end properties sold. In fact, about the same amount as typical sold. What happened is that fewer low end homes sold – nearly decreased by half – bringing up the average and median sales prices. The whole curve shifted a bit right.

The average house sale price for January 2010 in West Tucson was $227,325, with a median of $187,500 – the highest we’ve seen since early 2009. Last year at this time, the average house cost $213,517 with a median of $168,000.

Sales were down a bit, as is typical for the season. 34 houses sold, along with 5 townhomes and 1 condo, for a total of 40 units. With 425 units listed, that’s 10.6 months of inventory, with single family homes at a slightly lower 9.3 months of inventory. Still a bit high – more supply than demand – but the West side tends to do best over the Summer season, when sales pick up and inventory dips down a bit.

Of the 40 sales, 2 were short sales and 16 were bank owned sales. That makes distressed property 45% of the housing market in West Tucson in January.

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

The raw numbers:

	SFR	Townhome	Condo	All
	Value	Value	Value	Value	%change
Avg LP	$323,745	$102,931	$86,474	$266,432	-7.7%
Avg SP	$227,325	$118,200	$19,000	$208,476	15.9%
Med SP	$187,500	$110,000	$19,000	$164,550	22.8%
#Listed	317	77	31	425	11.3%
#Sold	34	5	1	40	-21.6%
MOI	9.3 months	15.4 months	31.0 months	10.6 months	41.9%

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