Great July Numbers!
The Tucson Association of Realtors has released the July numbers and the market appears to be stablizing. The average number of pending contracts is up by nine from 951 in June to 960 in July. Active listings have decreased by 264 listings from 8,140 in June to 7,876 in July.
New listings have decreased by 416 to 1,679 in July from 2,095 in June. A total of 945 home sales were processed through Multiple Listing in July down 89 units from June. The total sales volume decreased from $266,202,280 in June to $240,837,426 in July. Although the average sales price has decreased to $254,854 in July from the June price of $257,449, the Median sales price is about the same at $199,900 in July verses $200,000 in June.
The breakdown of homes for sale by zip code indicates 422 homes for sale in the 85706 area which is around Davis Monthan Air Force Base. A total of 417 homes are on the market in the Catalina Foothills 85718 zip code. Next to that is the 85641 zip code which is south of San Xavier Mission and west of I-19 with a total of 358 homes for sale. Then the 85641 Vail area has the fourth greatest number of homes for sale at 358. A total of 336 homes are on the market in the 85743 area which is the Continental Ranch area.
Areas which have few properties for sale is the central downtown area, 85701 with only 10 active listings, and then the 85619 area which is Mount Lemmon -Summerhaven area.
It follows that the majority of areas where the most properties are for sale are those areas where Builders put up homes in master planned community areas.
To further understand the numbers, this blog post could be read in conjunction with: July 28, 2008 – Bring on the Numbers and July 29, 2008 A note of Apology…and More Numbers.
For a full report see:
http://www.tucsonrealtors.org/tar-v2/stats_july.pdf
For information from Charlie Kentnor on the Sonita numbers, check:
http://www.realtown.com/ckentnor/blog/market-trends-and-statistics/sonoita-market-report-july-2008
Tags: Statistics