Tucson Real Estate Market Statistics Report - December 2007
Stats are out for the Tucson Real Estate Market for December 2007 from the Tucson Association of Realtors MLS.
But first:
Agents reporting sales later than allowed is this month’s complaint. There’s a new threat on MLS of up to a $15,000 fine for those turning in status changes more than 48 hours late. We’ll see if that has any effect or not.
Seeing that warning made me go back and look at the closed sales figures pulled today from MLS compared to what was reported. In some cases, I found nearly 100 more sales, and in a month where there were only 700 sales or so, that’s pretty significant. I’ve updated the citywide files, and will go back through each area and recalculate. It may take a day or two, and I’ll give you a heads-up when I’m done. That many more sales can impact average sales prices, months of inventory, medians, all kinds of data that I track and report here. I think the new policy will be to calculate the past two months worth of information every time, so that we stay as accurate as possible. Given that, consider this info for December to be “preliminary.” (sigh.)
We’ll put the MLS reported figures in parenthesis, and the figures calculated with today’s data in bold. You see why these reports irk me? I like exactness.
- Average Sales Price Single Family Home: ($289,254) $284,839
- Median Sales Price Single Family Home: ($236,000) $230,000
- Average Sales Price Townhome: ($199,032) $202,121
- Median Sales Price Townhome: ($175,000) $175,000
- Average Sales Price Condo: ($143,281) $142,438
- Median Sales Price Condo: ($135,000) $130,000
- Number of Active Listings: 8708 listings
- Number of Sold Units: (682 units) 743 units
- Months of Inventory, or Absorption Rate: (12.8 months) 11.7 months
I’m going to hold off drawing any conclusions about what those numbers mean until I’ve finished updating the rest of the data. My apologies, I knew the reported sales would be at least a bit off, but I never expected them to be off by 10%.
In the meantime, talk amongst yourselves. Here, I’ll give you a topic: The peanut is neither a pea, nor a nut. Discuss.
