Tucson Real Estate Market Trend Snapshot
May 28, 2008
Post Tags: Tucson Real Estate , Tucson-real-estate-market-trends
This will give you a quick and easy glance at what is happening so far this year in the Tucson Real Estate Market.
I’m only looking at Residential statistics. I’ll break these out later to show just the Single Family Residence Stats from town homes, condos moble and manufactured homes.
|
Month
|
Close Tran
|
Avg Sale Price
|
Active List
|
|---|---|---|---|
| Jan |
594
|
$266,450
|
9168
|
| Feb |
710
|
$262,155
|
9168
|
| Mar |
900
|
$259,120
|
9022
|
| Apr |
1008
|
$253,729
|
8808
|
| May |
748
|
$250,953
|
8708
|
We are seeing more homes sold each month. Active Listings are decreasing. Average Sale Prices have dropped.
The May figures are to date and will increase as we close out the month. This week the number of closed transactions have been increasing at a rate of about 100 a day. I expect May to be better than the 1008 recorded for April.
The numbers get more interesting when we look at just SFR statistics. I’ll keep this one short.
Tucson continues to have a steady rate of growth in sales for the year. There are declines in sales price which is to be expected in a market correction. Sales Prices are giving back some of the gains over the past few years, but overall anyone who bought before 2005 are still seeing a gain in the value of their Tucson property. The decrease from Jan through Apr is 4.8%. This is overall and not a huge loss of value, certainly not bad enough to merit the adjective used in the media to describe the Tucson Housing Market.
