Tucson Real Estate Blog

July 2007 Stats

August 31, 2007 on 4:18 pm | In Home Buyer, Home Seller, Statistics |

If you look at the table below you will see that prices have come down for Average and median Sales Price lower than march 2007 of this table. Total Units Sold is lowest for the same period. Listings have gone up from last month and remember MLS changed their reporting which started in May. Days On Market will probably average between 64 and 67 for the next 9-12 months.

	March**	April**	May*	June*	July*
Average Sales Price	$271,762	$278,992	$280,589	$298,477	$268.983
Median Sales Price	$222,000	$224,941	$223,500	$229,000	$218,750
Total Units Sold	1318	1287	1313	1226	1098
Active Listings	10185	10387	9721***	8665	8692
Days On Market	64	65	61	64	65

I expect the active listings to increase again next month. Due to more foreclosures hitting the market. These will hurt prices until they slow down. You are competing for a small number of buyers right now. They will buy the better price foreclosure instead of the Sellers higher priced listing. Price right if you want to sell today. Better yet don’t sell if you don’t have to. Prices will come back in about a year. I just do not want another run up of prices.

* The May, June & July data only includes the Tucson Metro area. It does not include other counties. See the Tucson Area map that includes all the extended areas such as XNW (Marana area)

** Some numbers differ from my last update due to the way it was updated the next reporting month. This will now remain the same data but reported in the month is was actually reported.

*** This number would be higher than the April number, but it now just reflects the Tucson Metro area.