Tucson MLS Statistics for December 2006
January 20, 2007
Post Tags: Tucson-Housing-Market-December-2006 , Tucson-MLS-Statistics , Tucson-real-estate-market-trends
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The Tucson MLS Statitstics for December 2006 were released Jan 17th. Here is the summary breakdown and analysis of those figures.
Tucson MLS Statistics Nov 06 - Dec 06 Summary
| Category | Nov 2006 | Dec 2006 | Diff. |
| Avg. Sale Price | $267,493 | $261,348 | - $6,145 |
| Median Sale Price | $218,000 | $215,000 | - $3,000 |
| Avg. Days on Market | 60 | 64 | + 4 |
| Pending Contracts | 891 | 678 | - 213 |
| Active Listings | 9238 | 8518 | - 720 |
| Avg.Sale Price NC | $280,482 | $326,804 | + $46,322 |
Typically in Tucson we see a decline in activity in the Real Estate Market during the holidays. The people that do buy are serious buyers and that is good, but overall many people put their real estate shopping on hold for holiday shopping.
The next chart is the difference between last December 2005 and December 2006. There are no surprises here either. The market is still going along at an appreciation rate near 16% for the year. I wish I could get that kind of return on all my investments in a bad year.
Tucson MLS Statistics Dec 05 - Dec 06 Summary
| Category | Dec 2005 | Dec 2006 | Diff. |
| Avg. Sale Price | $266,731 | $261,348 | - $5,383 |
| Median Sale Price | $220,000 | $215,000 | - $5,000 |
| Avg. Days on Market | 39 | 64 | + 25 |
| Pending Contracts | 1236 | 678 | - 558 |
| Active Listings | 5457 | 8518 | + 3061 |
| Avg.Sale Price NC | $278,809 | $326,804 | + $46,322 |
Average Sale Price (Resale)
This is a decrease from last month of $6,145.Median Sale Price Down $3,000 over last month
Average Days on Market Up 4 day
Even with this increase 33.5% of the homes on the market sold in 30 days or less. Read our related post for a more comprehensive look at Days On Market.
Pending Contracts Down 213 over Nov.
The December seasonal adjustment is across the board and pending sales is no different
Active Listings Down 720
In November we saw active listings decline by 506 over October. December saw a continued decline in active listings by another 720. December saw active listings of 8518. The last time we had few active listings was May 2006 with 8423.
New Construction
Builders are still offering some good incentives. The year end clear out is over. We aren’t seeing the $100,000 discounts like last month, but there are still a few quick close opportunities for up to $60,000. Still New Constrution showed a good month with 52 units sold and the average sale price of up $46,322 over November. If you are considering new construction you should first read New Construction Buyer Be Aware.
The News For Sellers, We are in the season of Tucson real estate for winter visitors. Now is the best time for homes in Active Adult and Gated communities in Tucson to have your home on the market. All sellers should read Seasons of Real Estate to know the best time to put your home on the market.
The News For Buyers, Tucson is still a buyers market. There are some very fine homes on the market at reasonable asking prices. Do your homework, check out the comps for the neighborhood, get an inspection if you make an offer. As I’ve stated before, Tucson isn’t a depressed market. We are appreciating in value. Don’t think you can make a low ball offer and have it accepted; it isn’t going to happen. Yes, there are some sellers that are fed up enough with low ball offers that the only counter you will get is one with a higher price than the asking price. Don’t take the attitude “They can always counter”.
Right now reasonable in most cases would be $5000 less than asking price. But if the house comps over asking price. You should take that into consideration as well.
The Last Word: pretty much the same as last month. Sellers, price it right and be aware of the Seasons of Real Estate for the Tucson Market. Selling in a Buyers market might not be as bad as you think. Buyers don’t look to national statistics to make a local decision. There is no Tucson Housing Bust, asking prices are coming down as they need to for this market, but the Average Appreciation is up near 16% for the year. Interest rates continue to be very affordable, but no ones knows for how long. If you find a property you want to make your home don’t wait for it to drop in price. This month we have had several people miss homes because while they were waiting for the price to drop someone bought it. Yes, we are beginning to see multiple offers again on some homes.
For those that like to play with number and want to dig into the details here is the link to:
The Tucson MLS Statistics for December 2006
February 6th, 2007 at 12:02 pm
[...] from Barbaralasky.com has some more in depth MLS analysis for the month of [...]
March 1st, 2007 at 10:55 pm
[...] 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 [...]