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It took a little longer for Tucson MLS to get the Stats out but that’s because of a totally new FlexMLS System in which the data now resides. It will get easier in the months to come.
A brief note. While I don’t use the FlexMLS system for all the typical things an agent would I’m finding the learning curve is growing smaller. Response to questions and features being tweaked is good. I was around when Rappitoni was installed. For the first six months it was known around town as Crapitoni.
It will be interesting to see where we are in 6 months with Flexmls. Now to the numbers.
Tucson MLS Feb 10 – Mar 10
March 2010
- Avg. Sale Pr $201,710
- Total Units Sold 1202
- Median Sale Pr $157,680
- Pending Contracts 1,549
- Active Listings 6,799
- New Listings 2,304
April 2010
- Avg. Sale Pr $199,986
- Total Units Sold 1227
- Median Sale Pr $159,000
- Pending Contracts 1,568
- Active Listings 6,603
- New Listings 2,236
Closed Transactions continued strong in April. The number right now is 1234, which for some reason is an easy number for me to remember. A continued strong market given the state of the economy. The last time we had more closed sales in a month was June of 2007 when there were 1,378. April was strong, and it isn’t all because of the Tax Credit. About 36% of those transactions were either REO or Short sale transactions. While this might impact the appraisal price for homes currently on the market it is still very positive
Pending contracts increased again in April. Pending contracts are the eye in the future for the next month or two, They help determine the current trend. This month we say 1,568 contacts go pending. Last month 1,549, not a huge jump but an upward movement.
The number of new listings fell slightly for the first time in several months. Down from 2,304 to 2,236 in April.
The Median sale price jumped up by over $7,000 from February to March and was up another $2,000 in April to $159,000. Again, on a month over month basis it is of interest but not significant.
I still haven’t mentioned “Shadow Inventory” I guess the sun has been shining too bright for that shadow to be addressed. I will try and get to it this week. (Note to self, Remember to write about shadow inventory)
Let’s move on to the year over year stats.
Year Over Year April 2009 – 2010
April 2010
- Avg. Sale Pr $199,986
- Total Units Sold 1227
- Median Sale Pr $159,000
- Pending Contracts 1,568
- Active Listings 6,603
- New Listings 2,236
April 2009
- Avg. Sale Pr $191,530
- Total Units Sold 939
- Median Sale Pr $165,000
- Pending Contracts 1,345
- Active Listings 6,890
- New Listings 1,703
The one thing that jumped out at me in the year over year comparison was the Average Sale Price. It was UP for the first time since Feb. 2008 over the previous year.
This could be an anomaly or the beginning of a trend. It will take a few more months of data to know. It is good considering the number of REO and Short Sales in the mix to see the overall average increase by over $8,000.
Here is the Entire Tucson MLS Statistics Report for April 2010
Hi Dave,
Good info- thanks! Glad you were able to navigate in the new flexMLS. There is a big learning curve, indeed. Seems like the pace of the market is continuting to be brisk- even in early to mid-May, after the tax credit is officially over. I believe the tax credit did a good job in peaking people’s interests in real estate, and also to get them out of their “chicken little” mindsets. There are still a lot of great deals to be found, but first and foremost buyers should buy only if they need a home to live in, and not see it purely as an investment.
It will be interesting to read what you have to say about the shadow inventory. Also to see how the shadow inventory ends up affecting the market in the months to come. Thanks again for interpreting the mass of data in the stats!
I’m glad I’m not an agent using the flex system. Not that it is a bad system, just I have enough stuff to learn without adding Flex to the list.
First post on shadow inventory went live this morning, another tomorrow.
Dave