Tucson MLS Residential Closed Transaction June 2008 Snapshot
June 30, 2008
Post Tags: Preliminary-June-2008-Residential-Averages , Tucson Real Estate Market , Tucson-MLS-Closed-Transaction
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Today is the last day of June 2008. I know the month was 30 days long, but it felt more like ten.
There are two more days for Closed Transactions to be entered into the system before stats will be pulled or a fine incurred for late entry. I know many of you following the Tucson Real Estate Market are wondering what June is going to be like considering the continued lose of consumer confidence in the economy and the cost of crude oil now topping over $143 a barrel, at least that is what I heard this morning.
We are going to break 1000 Closed Transactions for June 2008
There are 904 closed transactions as I write. Using past months entry patterns we should go over 1000 easily. I don’t think we will match the May figures but it is still a possibility. There is also a possibility the Averages and Median sale prices will be higher for June than May.
Since we don’t have the figures for another couple of days and since it usually takes some people a couple of weeks to get closed transactions entered it will be the middle of July before we know where June really ended up. Therefore, I put together this little Residential Closed Transactions by Type table for everyone to see how the figures at this point break down for June 2008.
|
Type
|
Close Tran
|
Avg List Price |
Avg Sale Price |
|---|---|---|---|
| SFR |
736
|
$292,529
|
$278,727
|
| TH |
81
|
$187,298
|
$178,546
|
| CD |
54
|
$158,285
|
$148,258
|
| MH |
3
|
$69,967
|
$64,167
|
| MFR |
30
|
$126,427
|
$120,642
|
| ALL |
904
|
$268,831
|
$255,999
|
Appetizer for the Data Junkies
These figures will encourage some and discourage others. It depends on if you are buying or selling and what it is you are selling or buying.
The Single Family Residence figures are often confused in peoples minds with the overall average. I run into people all the time thinking the “Average Residential Sale Price” means their home is loosing value and equity. Maybe it is but you have to look at the SFR figures and not the overall. Yes the overall average is $255,999 at this point but the SFR average is $278,727. You can do the math.
