Tucson Association of Realtors have released their stats for August 2014. Here are the highlights from the August Residential Sales Report:
Roughly only 1.5%, or 18, fewer residential properties changed hands in the Tucson area in August vs. July.
Observers see the 1,158 home closings reported for August a 4.1% decrease in July’s median sale price, still a 1.6% increase from July median sale price for a single family home a year ago.
At the end of August, there was about a 4-1/2-month overall inventory of residential properties in the Tucson area, or 5,155 properties available, up 21.3% vs. a year ago.
On average, residential properties spent 65 days on the market, an increase of 17 days since September 2013. With 1,655 sales pending at the end of August, down 10.6% from July.
The median price for a single-family home in the Tucson market was up a slight 1.6% at $163,000 in August, from $160,500 in August 2013.
Year-to-date, there have been 9,093 home closings in the greater Tucson area, a 7.67% decrease from the 9,791 closings reported through August 2013, one year ago.
Conventional loan sales accounted for 38.5% of the sales, continuing to exceed cash sales of 26%, according to TAR’s tracking.
FULL AUGUST SALES REPORT >> Residential Report
FULL AUGUST RENTAL REPORT >> Rental Report