Tucson Association of Realtors have released their stats for August 2013. Here are the highlights from the August Residential Sales Report:
Roughly only 2.21 percent more residential properties changed hands in the Tucson area last month vs. a year ago, still not breaking the streak of year-over-year gains in monthly home sales for the past two years.
Observers see the 1,205 home closings reported for August regained the slight decrease in July’s median sale price, a less than 1 per cent increase from July median sale price for a single family home.
At the end of August, about a 3-1/2-month overall inventory of residential properties in the Tucson area, or 4,249 properties were available, up 19.2 percent vs. a year ago. Bringing inventory back to a more normal level for the area.
On average, residential properties spent 48 days on the market, the shortest time since September 2012. With 2,064 sales pending at the end of August, down 18 percent from a year ago.
The median price for a single-family home in the Tucson market was up 10.69 percent at $160,500 in August, up from $145,000 a year ago.
Year-to-date, there have been 9,791 home closings in the greater Tucson area, a 3 percent increase from the 9,500 closings reported through August 2012.
Conventional loan sales accounted for 38 percent of the sales, continuing to exceed cash sales of 33 percent, according to TAR’s tracking.
FULL AUGUST SALES REPORT >>
https://tucsonrealtors.org/tar-v2/statsAug2013.pdf
FULL AUGUST RENTAL REPORT >>