August 2011
Last Updated On: Sept. 3
972 Closed Transactions
120 Short Sales
419 REO Sales
$157,801 Average Sale Price
$122,500 Median Sale Price
July 2011
Last Updated On: Aug, 6
1010 Closed Transactions
105 Short Sales
443 REO Sales
$178,478 Average Sale Price
$128,000 Median Sale Price
June 2011
Last Updated On: July, 12
1186 Closed Transactions
100 Short Sales
513 REO Sales
$169,265 Average Sale Price
$126,296 Median Sale Price
May 2011
Last Updated On: July, 17
1184 Closed Transactions
100 Short Sales
513 REO Sales
$169,221 Average Sale Price
$126,750 Median Sale Price
April 2011
Last Updated On: May, 29
1044 Closed Transactions
97 Short Sales
419 REO Sales
$179,947 Average Sale Price
$133,000 Median Sale Price
March 2011
Last Updated On: Apr, 14
1055 Closed Transactions
90 Short Sales
472 REO Sales
$166,132 Average Sale Price
$124,500 Median Sale Price
February 2011
Last Updated On: Mar, 30
792 Closed Transactions
92 Short Sales
297 REO Sales
$186,302 Average Sale Price
$137,500 Median Sale Price
January 2011
Last Updated On: Feb, 14
706 Closed Transactions
86 Short Sales
299 REO Sales
$172,227 Average Sale Price
$135,500 Median Sale Price
September will wrap up the third quarter of 2011. But before it’s over I still thought a look at where the market has gone in the past 8 months might prove interesting.
The August Deficit Debate Debacle won’t show up statistically till September’s figures are release. Since most closings are typically 45 days from time of acceptance it will be September/October figures that will reflect how hard Tucson real estate market was hit by a lack of consumer confidence.
While, at this time, evidence is only anecdotal, we have heard over and over from other real estate agents and small business people that the phones simply stopped ringing in August and they haven’t started back yet. I mentioned in a post a few weeks ago about two of our buyer clients saying WOO to their search. They are still in a holding pattern.
Right now is not a case of “No News, is Good News” We need “Leadership” out of Washington, all we are getting is a bunch of spoiled rich kindergarteners who seem to enjoy playing politics and putting that game ahead of what’s best for the country. (end of mini rant).
The dismal job figures for August seem to only be a surprise to Washington. Those of us that actually live in this country know how damaging the Debt Ceiling debate was to an barely standing economy.
When my son was taking his first step it didn’t take much to knock him over. My Dad in his prime was built like (what my mom used to say) a brick outhouse, only she used the 4 letter word. But there have been times when he was recovering from a major illness that you could topple him with a slight bump. Now it might take a head on with a golf cart.
My point, you have to know how big a bump someone can take and still remain standing. Washington doesn’t seem to have a clue. (Opps, mini rant was continued).
Tucson August MLS Statistics Report
The report from the MLS is due out this next week. Data was gathered through September 2nd. Then it takes a few days to compile the report and get the summary and letter from the president of the MLS together for the report to be released. There are several indicator I check each month.
- Pending contracts for the month
- Total active inventory
- Type of Financing used
- Absorption Rate by area
- Average/Median Sale price
- Number of REO & Short Sale transactions
- Total transactions for the month
I’ll have a full analysis of the August Statistics Report once it is released.
There is always a link to the entire previous months statistics report in the right sidebar. If you want to take a look at July while we wait for August check out the report. It is in PDF format and you can save it if you want to have your own copy.
Enjoy the Labor day weekend.
Dave
