Tucson Market Statistics and Report – June 2009
July 13, 2009
The Overview via Podcast:
Download Tucson Market Stats for June 2009 here (MP3) or subscribe to the Tucson Market Reports podcast here.
The Quick Numbers:
- Single Family Home Average Sales Price: $225,105
- Single Family Home Median Sales Price: $175,000
- Single Family Home Units Sold: 877
- Single Family Home Months of Inventory: 6.3 months
- Townhouse Average Sales Price: $166,897
- Townhouse Median Sales Price: $150,000
- Townhouse Units Sold: 77
- Townhouse Months of Inventory: 7.8 months
- Condo Average Sales Price: $114,360
- Condo Median Sales Price: $107,000
- Condo Units Sold: 52
- Condo Months of Inventory: 9.0 months
- Citywide Average Sales Price: $214,926
- Citywide Median Sales Price: $167,750
- Citywide Units Sold: 1006
- Citywide Months of Inventory: 6.6 months
June was a big month for the Tucson real estate market! Check out the number of homes that sold - 1006 units. It’s been nearly 2 years since we saw that level of movement. Early summer is our high season for sales - having the number of homes sold rise in June in Tucson is pretty typical. Still, it’s nice to see some movement.
Average and median sales price moved just a tiny bit - nothing too exciting there. Average sales price citywide for June in Tucson was $214,926 and the median was $167,750. Remember, that figure includes single family homes, condos, and townhomes. You can look at the average and median sales price for each of those over on on the market statistics page.
Inventory dropped about 200 units to 6609 active homes on the market. Given that drop and the rise in units sold, our months of inventory was at 6.6 months, citywide. Not too shabby. We are far from being out of these woods, but at least there were a few small bright spots in June.
So which price ranges are selling? The $0-$150,000 groups took a large jump in number of sales in June. The lower price brackets are doing a swift business this summer. Higher end, not so much. There’s a little bit more activity in those higher price ranges, but proportionally, that lower end is where they’re moving faster. I’ve got some listed vs sold charts that break down each price bracket over here - sort of interesting to see how much inventory is out there in each price bracket versus how many are actually selling.
The Southwest part of town had the lowest months of inventory in June, at 4.5 months. There were nearly 100 sales out there, nearly a 30% increase over last month. Of course, the prices are still dropping at an uncomfortable pace in that region. It was hit so hard with foreclosures and short sales.
The Northwest had a decent month, with 255 sales and 7.2 months of inventory, a figure that’s been slowly dropping since January. Sales prices are still going down there too, albeit a little more slowly and with a lot of bounce.
As always, there are extensive charts and statistics and whatnot, broken down by area and type of housing, over at my Tucson market statistics site. The market in this city varies widely from one end to the other, so you can check out what’s going on in your area over at that section of my site.
Data gathered from the Tucson MLS and is deemed reliable but not guaranteed. Figures quoted here include only single family homes, townhomes, and condos in the 9 areas that make up the Greater Tucson Area: NW, N, NE, W, C, E, SW, S, and SE.
