Tucson MLS Statistics for January 2007
March 1, 2007
Post Tags: Tucson-Housing-Market-January-2007 , Tucson-MLS-Statistics , Tucson-real-estate-market-trends
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The Tucson MLS Statistics for January 2007 were released Feb 28th. Yes, it took the whole month of February to get the figures. We all hope that the Feb. 2007 statistics will be out in a timely manner.
Here is the summary breakdown and analysis of those figures.
Tucson MLS Statistics Dec 06 - Jan 07 Summary
| Category |
Dec 2006 |
Jan 2007 |
Diff. |
| Avg. Sale Price | $261,348 | $270,540 |
+ $9,192 |
| Median Sale Price | $215,000 | $219,900 |
+ $4,900 |
| Avg. Days on Market | 64 | 69 |
+ 5 |
| Pending Contracts | 678 | 863 |
+185 |
| Active Listings | 8518 | 9742 |
+ 1224 |
| Avg.Sale Price NC | $326,804 | $286,465 |
- $40,339 |
January each year begins the first season of real estate in Tucson. It is when the winter visitors are here in force. The Tucson Gem and Mineral Show attracts a large number of people every year. The second group of winter visitors arrive after the holidays and some of those visitors are looking to buy a second home in Tucson. Most have spent part of a winter here in the past and want to now purchase a second home instead of just rent.
The Tucson Residential Statistics for January 2007
Average Sale Price was up $9,192 over December 06
Median Sale Price up $4,900
Average Days on Market up 5 over last month with about a third of the homes on the market selling in the first 30 days and 22.8% selling in the 31 - 60 bracket.
Pending Contract up 185
Active Listings up 1224 This is a larger increase than usual. It is usual to have an increase in listing in January. December is very busy with the holidays and college kids home. Those two things make it difficult to keep a home “Ready to Show”. Some take their homes off the market in December and put it back on after the kids are back to college. Others simply wait until January to put it on for the first time, quite often for the same reason. They have decided to sell but don’t want to have it on the market over the holidays.
New Construction The average sale price was down in January. There were still some buyer incentives to be had. However, there were fewer available homes as some builders closed out some phases of development and new ones weren’t built out enough to have units available for sale.
The table below is a comparison of year over year figures. Most of the time this is a good table to compare. After last year, I don’t think so, at least not the first 6 months of the year. We were still very much a part of the 04 - 05 run up during the first 6 months of 06. It is like winning the lottery last year and then comparing your income this year to last year and saying you’re not doing very well.
That being said there are some interesting things to see in the numbers.
Tucson MLS Statistics Jan 06 - Jan 07 Summary
| Category |
Jan 2006 |
Jan 2007 |
Diff. |
| Avg. Sale Price | $273,690 | $270,540 |
- $3,150 |
| Median Sale Price | $215,875 | $219,900 |
+ $4,025 |
| Avg. Days on Market | 44 | 69 |
+ 25 |
| Pending Contracts | 1672 | 863 |
- 809 |
| Active Listings | 6499 | 9742 |
+ 3243 |
| Avg.Sale Price NC | $291,662 | $286,465 |
- $5,197 |
I’ll be completely honest with you, today is March 1st 07. The data for January is out of date. Therefore, I’m not going to go into specifics on these numbers.
I know we have seen a lot more buyers in the market during February. We have had a lot of events in Tucson during the month such as the Accenture Match Play and the Rodeo which bring a lot of visitors to town.
What people really want to know is this, “Are Prices Up or Down”.
I’m always fascinated by the answers I hear to this question. Most of the time the answer I hear, even from real estate agents is DOWN. But that is an over simplification of the question. Another question has to be asked first. Do you mean “Asking Price” or “Sale Price” Asking Prices have been and in some instances continue to be to high. Asking prices are coming down to the market. Sale Prices are up, for both the median sale price and the average sale price over last month. I think the same will hold true for February’s figures.
This is where I have the News for Buyers and News for Sellers. Again, I won’t comment on January figures since they are already out of date, but if you want something to read, then read the post on December 06 Stats. The advice and insights I have there are pretty much the same for January 07
Finally for those that like the numbers here is the link to:
The Tucson MLS Statistics for January 2007
