Tucson Real Estate Blog

September Tucson Housing Report

Another month has passed and the Tucson market is showing steady signs of stability, four months actually!  Here are a few notable trends:

  • Number of closed transactions are up 6.2% over August 2008
  • Pending contracts are up 45.1% over August 2008 and 3.8% over July 2009
  • Average sales price was $199,626, down 5.3% over July 2009
  • Average median sales price was $162,595, down 3.1% over July 2009

The overall Tucson MLS active listing inventory at the end of August 2009 is 6,062 which is 21.9% less than August 2008!

Another strong indicator, Months of Inventory, depicts a trend towards a balanced market.  In general, the Tucson market has 6.4 months of inventory versus 9 months of inventory in August 2008. A rule of thumb, a market is considered “balanced” when “Months of Inventory” is around 6.

Tucson is experiencing an increase in buyer activity especially in the price bands up to $300,000 which comprises of approximately 86% of the market sales activity. See below:

 Aug 09 MOI

Now is the time if you have been thinking about relocating to Tucson or wanting a second home.  If you would like more detailed reports or have a Virtual Home Finder search set up for you, just send me an email and I will follow up with you right away.

Until next time,pam signature 2






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