Tucson Median Home-Sale Price Increased 6%
Article by Arizona Daily Star, Source: Arizona Daily Star
Tucson-area home prices rose more than 6 percent in March as unit sales rose nearly 19 percent compared with the same month in 2011, according to the latest data from the Tucson Association of Realtors Multiple Listing Service.
The median price for a home sold in March was $132,900, up from $125,000 both in the prior month and in March 2011, the Realtors group said. The median price is the point at which half the homes sold for more and half sold for less, which reduces the effect of very high or low prices.
The average price rose 2.8 percent on a year-over-year basis, to $168,153.
A total of 1,387 listed homes sold in March, up 18.7 percent from March 2011.
Inventory continued to drop, with active home listings falling nearly 9 percent from February and nearly 38 percent from March 2011, the Realtors said.
And those homes are selling a little more quickly. Average days on market fell to 73, from 77 in February.
Tucson Housing Market
March 2012 Feb. 2012 March 2011 Feb. 2011
Median sale price $132,900 $125,000 $125,000 $137,000
Avg. sale price $168,153 $164,513 $163,590 $182,388
Active listings 4,168 4,560 6,703 6,947
New listings 1,971 1,720 1,623 1,487
Home sales by unit 1,387 1,019 1,169 879
Source: Tucson Association of Realtors Multiple Listing Service
