Tucson MLS Statistics for March 2010

Yes, it is the end of April (almost). Yes, I am finally getting to posting the Tucson MLS Statistics for March. Why did it take so long? You don’t want to know. Even if you do I’m not telling. Now to the numbers.

Tucson MLS Feb 10 – Mar 10

The number of closed transaction in March were the highest since July of 2007 when there were 1235 closed transactions. Not since then have we had anything close to that number till March. The official number reported was 1169 but a number of brokerages must have taken in enough money in March to fell like throwing some at TAR. The fine is $250 per late transaction (anything more than 2 days after close) That number right now is 1203, 34 x $250 = $8,500 in fines paid for late reporting. That number is climbing, 1203 came into the system just yesterday. Meaning we fell just 32 transactions short of that July number.

This means there were 449 more sales in March than in February. This is true all across the country for March. Not in 47 years has the nation seen this much activity in the housing market.

Pending contracts are solid as well. We are continuing to see an increased number of sales going pending. Even though the media attributes much of this to the Tax credits there is evidence that it goes far beyond the tax credits. Pending sales are strong in April as well. There are three days left for offers to be accepted in order to qualify for the tax credit, either the first time home buyer or the expanded credit.

The number of new listings is climbing. Why? many possible reasons. Some people might be seeing the increased activity in the market and deciding to put the home on the market. Could be the increase in sale prices, it also could be they need to sell. This is the time of year when families with children in school and facing a transfer will be selling and looking for a home.

The Median sale price jumped up by over $7,000 from February. On a month over month basis it is of interest but not significant.

The “shadow inventory” is something I’ll talk about in another post. What the heck is shadow inventory? It is the latest invention of the media to have something to scare all of us with. More later.

Let’s move on to the year over year stats.

Year Over Year March 2009 – 2010

Nothing remarkable to point out here. The numbers speak for themselves. Pendings are up, Sale prices are down from last year. Inventory while climbing from February this year are still lower than March of last year. March was a great month, April looks like it will be a good one too.

Here is the Entire Tucson MLS Statistics Report for March 2010