Tucson Association of Realtors (TAR) have released stats for October 2013. Here are the highlights from the October Tucson Residential Sales Report:
Home unit sales increased by roughly 5 percent changing hands in the Tucson area last month vs. a year ago. While total sales volume of $217.45 million increased 9.45 percent from September’s number of $198.68 million, an increase of 13.14 percent from this time last year.
Observers see the 1,130 home closings reported for October showing a decrease for the second month in a row and a decrease of 0.26 percent from September’s median sale price for a single family home.
At the end of October, there was still about a 4-1/2 months overall inventory of residential properties in the Tucson area, or 5,173 properties available, up by 18.9 percent vs. a year ago, and an increase of 9.67 percent from September. All still within normal inventory range for the area.
On average, residential properties spent 50 days on the market, three days longer than in September which was the shortest market time since September 2012. With 1,771 sales pending at the end of October, there was a 33.48 percent decrease from a year ago.
The median price for a single-family home in the Tucson market, dropped slightly from September’s $155,399 to $155,000 in October, represents an increase of 7.7 percent from $143,000 a year ago.
Year-to-date, there have been 11,972 home closings in the greater Tucson area, a 3.8 percent increase from the 11,512 closings reported through October 2012.
Conventional loan sales accounted for 38 percent of the sales, only slightly more than cash sales of 32 percent, according to TAR’s tracking.
FULL OCTOBER SALES REPORT >> Click Here
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