Tucson MLS Statistics October 2008
November 14, 2008
Post Tags: tucson-housing-market-October-2008 , tucson-mls-statistics-October-2008 , tucson-real-estate-October-2008
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Has anyone heard the one about the economy slowing? It is nice to see it finally slowing, after being in free fall for a couple of months now, slowing is a good thing. Yes, we are still falling but falling slower is a good thing. Ask anyone that has ever fallen, slowing is a good thing before you hit bottom. You do know don’t you that falling isn’t what kills you, it is the sudden stop.
Enough with the jokes, the numbers are pretty much to be expected. The one small surprise might be in the slight up tick in Average Sale price, but that is easily accounted for in a couple of high dollar properties closed during the month.
Taking a quick look at Nov. closed transactions shows us at 218 closed Average Sale Price $208,637, Median Sale Price $166,649. There are bargains in the market and not all of them are short sales or foreclosures. For now here are the numbers.
Tucson MLS Statistics Sept 08 – Oct 08 Summary
| Category |
Sept
2008 |
Oct
2008 |
Diff.
|
| Avg. Sale Price | $217,397 | $226,435 | + $9,038 |
| Total Units Sold | 934 | 823 | - 111 |
| Median Sale Price | $180,500 | $180,000 | - $500 |
| Pending Contracts | 836 | 755 | - 89 |
| Active Listings | 7,858 | 7,988 | + 130 |
| New Listings | 2,039 | 2,032 | - 7 |
Considering the past couple of months volatility in the financial markets and the squeeze on credit October shows a rather strong month compared to last year. No need to go in to detailed analysis, the numbers are pretty straight forward.
Tucson MLS Statistics Oct 07 – Oct 08 Summary
| Category |
Oct
2007 |
Oct
2008 |
Diff.
|
| Avg. Sale Price | $259,557 | $226,435 | - $33,122 |
| Total Units Sold | 894 | 823 | - 71 |
| Median Sale Price | $210,000 | $180,000 | - $34,500 |
| Pending Contracts | 993 | 755 | - 238* |
| Active Listings | 9,313 | 7,988 | - 1325 |
| New Listings | 2,399 | 2,032 | - 367 |
*Pending Sales were reported in the MLS stats and in the Arizona Daily Star as down over last year. However, as pointed out for the past couple of months and NOW. Last year all sales with a status of Pending were reported, this year only sales that “Went Pending” during the month are being reported. The number of pending contracts is down, but slightly.
Over the years I’ve observed that the winter visitors delay their arrival on presidential election years. Many prefer to stay home and vote then come for the winter. (You did realize there was a presidential elections, right!) This also delays the purchase of homes made by snowbirds. Yes, they do still have money. And those who have been waiting for the price of housing in Tucson to come down so they could purchase their second winter home are finding this years prices the best in the past 5 years.
November 14th, 2008 at 9:58 am
Where are all your comments? You have readers but no comments? That’s a bit suspect.
November 14th, 2008 at 10:05 am
Joe,
There are 1,062 approved comments on this blog. There is nothing suspect about it. Many of the posts provide information about Tucson and living in Tucson they are not usually the type of posts which get comments.
I don’t write asking for comments on most posts. I also try and post on a daily basis.
Some blogs are designed for regular readers, other for providing information for those searching about topics. This blog is a combination of both. Personally, I think having more than 1000 comments is pretty good.
Second, I doubt your name is Joe and that your email is howdy@. Which makes me wonder why you are commenting.
Third, I fail to see what this comment has to do with the topic of the post.
Forth, Yes, comments are approved. Why? because of spam comments that come in by the thousands.
Take some time and read the content. I think you will find many valid comments and observations by readers of the posts.
Finally, Have a great weekend.
November 15th, 2008 at 8:55 am
Hi Dave,
Thank you for posting the monthly data, I sincerely appreciate it & enjoy your blog in general!
This is not a joke, but for a chuckle, a financial guy I follow & has been “right on” including calling the top in oil last summer changed his “tune” on Friday. Bob Hoye said he is no longer strongly bearish, just “cautiously pessimistic”. A good line I thought.
Maybe we are slowing down before we hit bottom?
Chris