Tucson Real Estate Sales Trend Higher in June
June 17, 2009
Post Tags: tucson home prices up , tucson real estate trend
Home Prices Trend Upward in June
The Stock market has been the focus of attention for the past few days. Those heady days of early June when the word Recession was being spelled Recovery have all but been wiped out in the past three days.
GM in bankruptcy, Locally Don Macky going out of business as one of the dealerships cut and Jim Click quietly adding the Mitsubishi line to his collection.
Health care, health care, health care is the agenda right now on the national front.
The Republican Governor having to sue the Republican Legislator to “Bring me the Bill” is the attention on the state front. Never mind we are less than two weeks away from shutting down state government, there is still time to play politics and a little chicken while we are at it.
Tucson is watching City council, the mayor, directors of the Rialto theater and two private developers spar for the mess downtown and we are all wondering how they will further muck up the destruction not recovery of what owntown.
Meanwhile Back at the Ranch
Meanwhile something interesting has been happening in the Tucson real estate market. Sales are strong and sale prices are up. Not up a little up a lot.
We started out a week ago with the average sale price at $197,992. It had dropped a bit from May’s close. But then the next day Friday, Juen 12th it was up to $207,940. I figured a couple high dolloar properties must have closed. But when I went looking I couldn’t find any sales that would cause this jump. Oh well by Monday it will be back down.
Watching the weekend numbers it dropped back a bit to $206,979 and the median sale price was $158,900. Monday roared in with the Dow dropping over 200 points and Tucson’s average sale price jumped up to $210,280. Median price up to $160,000. My thought, what the heck is going on?
Tuesday closed at $212,671 and median price was $161,540. The Dow dropped another 100 points. Now it is mid-day Wednesday and we are over 500 closed transactions for the month of June and the average sale price is $212,705, median $163,000.
Have all eyes been diverted? Well, not all eyes. I’m reporting to you this trend upward in closed sales, and sales prices.
Don’t overlook the positive news in Tucson real estate. Like Frodo and Sam slipping onto Mt. Doom while all eyes were distracted. Okay, maybe not as dramatic as that, but the principle is the same. Something positive and dramatic is going on in the Tucson Real Estate Market.
