Tucson Market Report and Statistics – December 2009
January 12, 2010
The Quick Numbers:
- Single Family Home Average Sales Price: $222,745
- Single Family Home Median Sales Price: $160,000
- Single Family Home Units Sold: 658
- Single Family Home Months of Inventory: 7.8 months
- Townhouse Average Sales Price: $160,422
- Townhouse Median Sales Price: $142,000
- Townhouse Units Sold: 62
- Townhouse Months of Inventory: 9.3 months
- Condo Average Sales Price: $102,603
- Condo Median Sales Price: $99,750
- Condo Units Sold: 32
- Condo Months of Inventory: 13.9 months
- Citywide Average Sales Price: $212,494
- Citywide Median Sales Price: $155,000
- Citywide Units Sold: 752
- Citywide Months of Inventory: 8.2 months
Happy New Year! Let’s take a quick look back at December 2009…
We’re well into our seasonal winter slowdown. The number of homes sold citywide was down 100 from last month, coming in at 752 units sold. The number of homes for sale went down about 300 units – following our trend of decreasing inventory during nearly all of 2009. Even though the number of active listings went down, the months of inventory, or absorption rate, ticked up a bit to 8.2 months. It was 7.6 months in November.
All of those things – very normal changes for the winter market in Tucson.
Pending sales ticked down about 150 units too, which isn’t surprising. The urgency is off for home buyers until we get closer to that $8000 tax credit deadline in April. And many people elect not to purchase and move during the winter holidays.
The average sales price citywide took a $17k jump over last month to $212,494 – but don’t get too excited about that. The number of sales in the $500k plus price range doubled over last month, which would push up the average sales price. There were 50 sales in the $500k range in December, and only 26 in November. Could our high end vacation home buyers be making a small appearance this winter?
That theory gets reinforced because the median sales price citywide took a $10k dip over last month, to $155k. Last year at this time, the median sales price was $170,500.
Last year at this time, the average sales price was $206,981, for comparison.
Don’t forget to watch for the market reports for each part of town – there will be updates to those in the coming weeks: Northwest, North, Northeast, West, Central, East, Southwest, South, and Southeast. If you find errors, have comments or suggestions, please let me know!
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.
