Tucson Real Estate Market in Transition
June 2, 2009
Post Tags: daily updates , median sale price , Tucson-MLS
Tucson Real Estate Moving and Growing
Because I daily update the number of closed transactions, average sale price and the median sale price I have noticed the trend upward over the past month. This trend upward does not appear to be an anomaly. The average and median sale price as of today is $204,281, the median sale price is $170,000. This month began with a median sale price of $160,000.
Friday May 29, 2009 there were 806 closed transactions. By the end of the day it was 896. May31st 933; June 1st 968. On June 3rd the data will be pulled for May’s statistical report from the Tucson MLS. There were 1070 closed transactions in May 2008. It looks like we will met or exceed that number this month.
The inventory continues to decrease and even with the number of foreclosures increasing the average and median sale price continues to rise. School is out and families are moving. It is one of the prime seasons on real estate in Tucson.
June 2nd, 2009 at 6:40 pm
I just stumbled on this blog. Great info! Up here in Phoenix, I think things are pretty similar. According to ListingSupply.com, the supply of homes for sale on the ARMLS fell by around 10% in May. I’m really starting to believe that we have turned a corner. I’m not so sure how fast prices will rise, though.