Tucson Real Estate Absorption Rates May 2008
June 12, 2008
Post Tags: Tucson Real Estate , Tucson Real Estate Market , Tucson-Absorption-Rates-May-2008
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Here is the absorption rate table for showing April and May 2008 Absorption Rates. As you can see some areas are doing quite well while others are still struggling to get under the 11 months of inventory mark. However, it appears overall we are moving in the right direction. Down from the 10,000 + active listings of last year, we are over 8,000 and could drop below that this summer. Between 6,000 and 7,000 is considered a “normal market”. Does anyone still remember what a “Normal Market” looks like?
|
Area
|
May Listed\ |
May
Sold |
May
AR |
Apr Listed
|
Apr
sold |
Apr
AR |
Sold YTD
|
| N | 784 | 92 | 8.52 | 840 | 103 | 8.26 | 392 |
| NE | 463 | 50 | 9.26 | 463 | 61 | 7.72 | 198 |
| NW | 2172 | 271 | 8.01 | 2328 | 316 | 8.44 | 1132 |
| XNW | 127 | 12 | 10.58 | 127 | 15 | 7.40 | 46 |
| C | 1023 | 152 | 6.73 | 1086 | 205 | 6.46 | 586 |
| E | 641 | 74 | 8.66 | 543 | 71 | 7.89 | 304 |
| S | 514 | 60 | 8.56 | 523 | 107 | 5.21 | 273 |
| SE | 657 | 115 | 5.71 | 683 | 108 | 8.16 | 402 |
| SW | 675 | 57 | 11.84 | 702 | 63 | 11.60 | 316 |
| XSW | 311 | 27 | 11.51 | 326 | 38 | 8.39 | 134 |
| XS | 546 | 65 | 8.09 | 552 | 69 | 9.94 | 305 |
| W | 525 | 42 | 12.20 | 540 | 63 | 7.65 | 223 |
| XW | 76 | 6 | 12.66 | 80 | 8 | 9.38 | 27 |
| 8,527 | 1045 | 8.15 | 8808 | 1008 | 8.73 |
Summer is usually a slower time for most of the Tucson real estate market. The exceptions being those who are relocating their families here and waited till school was out to do so. And college students and parents looking to purchase a home, condo, town home, something close to the campus and with extra rooms they can rent to other students. This is our biggest summer segment.
