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WOW! I just realized I never published this post. All the work to write it and make it look nice on the new blog theme and then I forget to publish it. Now it is old news, but it is still valuable as we look at each of these monthly stats posts as a group.
April was a good month for real estate in Tucson so far we have 1008 Residentail sales recorded for the month. Looks like this will be the final number as well.
Not too bad for a Tucson Real Estate Market being described as in the tank.
Let’s do the numbers
Tucson MLS Statistics March 08 – April 08 Summary
| Category | Mar 2008 | Apr 2008 | Diff. |
| Avg. Sale Price | $259,120 | $253,729 | - $5,391 |
| Total Units Sold | 900 | 1008 | + 108 |
| Median Sale Price | $200,000 | $195,000 | - $5,000 |
| Pending Contracts | 1410 | 1547 | + 137 |
| Active Listings | 9,022 | 8,808 | - 214 |
| New Listings | 2,444 | 2,441 | - 3 |
Average Sale Price
These are coming down which is what everyone has expected. The decline on average of and median of $5,000 is not the plummeting, falling, flooded, disastrous, precipitous decline or the media. It is a reasoned decline given the state of the Tucson real estate market.
Total Units Sold
We increased that by about 100 over March and broke through the psychological barrier of 1000. The May figures have already made it past the 1024 mark and will probably end up just over 1050 closed transactions for the month. The average and media sales prices have dropped again in May.
Pending Contracts
Pending contracts continue to increase month over month. This is a good sign for the market. It is healthy to see inventories declining and properties selling and moving off the market. The number of pending contracts in May is up by a couple of hundred over April showing continued strength in sales in May.
Active Listings New Listings
The new listings were pretty steady with a decrease of 3 from March. The Active Listings declined below 9000 in April. Six thousand is considered to be “About Right” in Tucson. We have been getting closer to that number each month.
Now here is a snapshot of the year over year numbers.
Tucson MLS Statistics Apr 07 – Apr 08 Summary
| Category | Apr 2007 | Apr 2008 | Diff. |
| Avg. Sale Price | $278,577 | $253,729 | - $24,848 |
| Total Units Sold | 1318 | 1008 | - 310 |
| Median Sale Price | $224,921 | $195,000 | - $29,921 |
| Pending Contracts | 1217 | 1547 | + 330 |
| Active Listings | 10,387 | 8,808 | - 1579 |
| New Listings | 3085 | 2,441 | - 644 |
Since these numbers are a couple of months old by now I’ll forgo and summary at this point and post them. There are changes in May but nothing drastic. The ups are moving up and the downs are moving down. Nothing dramatic all steady as it goes.
The link to the full report for April is in our sidebar under “Documents” you can view and save a copy to view the entire report.
