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  • Tucson Main Market Nov 10

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    The Tucson housing market report for November 2010 showed: 1) Active housing inventory increased 28% from the previous year while housing closings decreased 24%. 2) The months of housing inventory increased to 10.7, up from 6.3 the previous year. 3) The median price of homes sold in October 2010 decreased 12% from the previous year to $140,000.

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    The Tucson housing market report for November 2010 showed: 1) Active housing inventory increased 28% from the previous year while housing closings decreased 24%. 2) The months of housing inventory increased to 10.7, up from 6.3 the previous year. 3) The median price of homes sold in October 2010 decreased 12% from the previous year to $140,000.

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    56 views4 pages

    Tucson Main Market Nov 10

    Uploaded by

    sherieb
    The Tucson housing market report for November 2010 showed: 1) Active housing inventory increased 28% from the previous year while housing closings decreased 24%. 2) The months of housing inventory increased to 10.7, up from 6.3 the previous year. 3) The median price of homes sold in October 2010 decreased 12% from the previous year to $140,000.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 4

    The Housing Report

    Powered by Long Realty Research Center

    Tucson Main Market | November 2010


    As of October 2010 active inventory was 8,040, a 28% increase from October 2009. There were 754 closings in October
    2010, 24% below October 2009. Months of Inventory was 10.7, up from 6.3 in October 2009. Median price of sold homes was
    $140,000 for the month of October 2010, down 12% from October 2009. The Tucson Market had 892 new properties under
    contract in October 2010, down 17% from October 2009.

    Months of Inventory, Active Listings and Closings


    9000 Active Listings Closings Months of Inventory 16.0

    8000 14.0
    Active Listings/Closings

    7000
    12.0

    Months of Inventory
    6000
    10.0
    5000
    8.0
    4000
    6.0
    3000

    4.0
    2000

    1000 2.0

    0 0.0
    Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct-
    08 08 08 09 09 09 09 09 09 09 09 09 09 09 09 10 10 10 10 10 10 10 10 10 10

    These statistics are based on information obtained from the TARMLS using Brokermetrics software on 11/3/2010. Information is believed to be reliable, but not guaranteed. Months of Inventory (MOI) reflect
    the time period required to sell all the properties on the market given the number of closed transactions in the preceding month, provided no new product becomes available. This is an excellent benchmark to
    show the velocity of transactions in relation to the market inventories. This measurement is a broad one and will vary (in some cases dramatically) by price range, location and type of property.

    Median and Average Price (Closed Sales)


    250000 Average Price Median Price

    200000

    150000
    Pricing

    100000

    50000

    0
    Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct-
    08 08 08 09 09 09 09 09 09 09 09 09 09 09 09 10 10 10 10 10 10 10 10 10 10

    These statistics are based on information obtained from the TARMLS using Brokermetrics software on 11/3/2010. Information is believed to be reliable, but not guaranteed.

    Kevin Kaplan
    Home Office
    900 E. River Rd
    Tucson, Arizona 85718
    (520) 918-3874
    KKaplan@LongRealty.com
    http://kkaplan.longrealty.com
    The Housing Report
    Powered by Long Realty Research Center

    Tucson Main Market | November 2010

    New Properties Under Contract


    2000
    This graph depicts the new properties that have gone under contract in the given month.

    1800
    Number of New Properties Under Contract

    1600

    1400

    1200

    1000

    800

    600

    400

    200

    0
    Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct-
    08 08 08 09 09 09 09 09 09 09 09 09 09 09 09 10 10 10 10 10 10 10 10 10 10

    These statistics are based on information obtained from the TARMLS using Brokermetrics software on 11/3/2010. Information is believed to be reliable, but not guaranteed.

    Market Share
    35.0%

    31.0%
    30.0%

    25.0%
    Percentage

    20.0%

    15.0%

    10.6%
    10.0%
    7.5%

    5.0% 4.3%
    3.1%
    2.0%

    0.0%

    Long Realty Tierra Antigua Realty Coldwell Banker Keller Williams Realty Executives Century 21
    Residential Brokerage Southern AZ Southern AZ 1st American
    Company
    Data Obtained 11/3/2010 from TARMLS using BrokerMetrics software for all closed residential sales volume between 11/1/2009 - 10/31/2010 rounded to the nearest tenth on one percent and deemed to be correct.

    Kevin Kaplan
    Home Office
    900 E. River Rd
    Tucson, Arizona 85718
    (520) 918-3874
    KKaplan@LongRealty.com
    http://kkaplan.longrealty.com
    The Housing Report
    Powered by Long Realty Research Center

    Tucson Main Market | November 2010

    Price Banded Market Report


    Residential Homes

    Months
    Homes on the Market Homes Sold/Closed of Inventory
    Price Band
    Oct-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10

    $1 - 49,999 248 61 66 73 72 71 63 3.9

    $50,000 - 74,999 451 82 72 62 72 73 55 8.2

    $75,000 - 99,999 773 121 131 74 81 92 80 9.7

    $100,000 - 124,999 809 171 155 89 98 128 110 7.4

    $125,000 - 149,999 923 193 183 106 123 100 91 10.1

    $150,000 - 174,999 741 166 138 86 106 112 88 8.4

    $175,000 - 199,999 741 111 98 63 74 66 50 14.8

    $200,000 - 224,999 394 80 71 43 51 48 41 9.6

    $225,000 - 249,999 474 53 65 43 46 38 44 10.8

    $250,000 - 274,999 276 41 52 34 43 40 24 11.5

    $275,000 - 299,999 304 38 28 25 28 24 30 10.1

    $300,000 - 349,999 342 60 42 27 32 39 22 15.5

    $350,000 - 399,999 316 29 36 31 35 24 15 21.1

    $400,000 - 499,999 382 34 32 32 21 21 17 22.5

    $500,000 - 749,999 425 27 37 26 22 24 16 26.6

    $750,000 - 999,999 182 9 6 9 6 6 3 60.7

    $1,000,000 - and over 221 6 7 3 5 4 3 73.7

    These statistics are based on information obtained from the TARMLS using Brokermetrics software on 11/3/2010. Information is believed to be reliable, but not guaranteed. Months of Inventory (MOI)
    reflect the time period required to sell all the properties on the market given the number of closed transactions in the preceding month, provided no new product becomes available. This is an excellent
    benchmark to show the velocity of transactions in relation to the market inventories. This measurement is a broad one and will vary (in some cases dramatically) by price range, location and type of property.

    Real estate is in fact very localized. Market conditions can vary greatly by not only geographic area but also by price range, as
    demonstrated in the above Long Realty Research Center chart. Find the price range of interest to you to track relevant market
    conditions, and contact me for a more in-depth analysis.

    Kevin Kaplan
    Home Office
    900 E. River Rd
    Tucson, Arizona 85718
    (520) 918-3874
    KKaplan@LongRealty.com
    http://kkaplan.longrealty.com
    The Housing Report
    Powered by Long Realty Research Center

    Tucson Main Market | November 2010

    Months of Inventory by Zip Code


    85739 | 19.9 Months

    85658 | 13.3 Months 85755 | 15.7 Months

    85653 | 15.2 Months 85737 | 14.4 Months


    85742 | 9.6 Months

    85750 | 18.8 Months


    85704 | 7.1 Months

    85741 | 7.7 Months


    85743 | 10.3 Months 85718 | 11.6 Months 85749 | 10.5 Months

    85705 | 10.5 Months 85712 | 8.2 Months

    85745 | 15.9 Months 85719 | 12.9 Months 85716 | 9.2 Months 85715 | 10.3 Months

    85748 | 12.9 Months


    85701 | 16.0 Months
    85710 | 8.1 Months
    85711 | 11.5 Months
    85735 | 21.5 Months
    85713 | 15.9 Months
    85730 | 6.9 Months

    85714 | 4.5 Months

    85757 | 6.4 Months 85747 | 8.5 Months

    85756 | 7.1 Months


    85746 | 11.8 Months 85706 | 5.8 Months

    85614 | 24.8 Months 85622 | 25.6 Months 85629 | 7.4 Months 85641 | 11.4 Months

    These statistics are based on information obtained from the TARMLS using Brokermetrics software and from the GV/SAH MLS on 11/3/2010. Information is believed to be reliable, but not guaranteed. Months of
    Inventory (MOI) reflect the time period required to sell all the properties on the market given the number of closed transactions in the preceding month, provided no new product becomes available. This is an excellent
    benchmark to show the velocity of transactions in relation to the market inventories. This measurement is a broad one and will vary (in some cases dramatically) by price range, location and type of property.

    Months of Inventory (MOI) is a good indicator of market health, taking into account both current inventory and sales rates. As
    a rule of thumb, a market is considered “balanced” when Months of Inventory is around 6. As you can see by this Long Realty
    Research Center map, market conditions can vary significantly by area. Contact me to get Months of Inventory information for
    your specific neighborhood.
    Kevin Kaplan
    Home Office
    900 E. River Rd
    Tucson, Arizona 85718
    (520) 918-3874
    KKaplan@LongRealty.com
    http://kkaplan.longrealty.com

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