Ability Realty

Our Average and Median Sales prices went down again, but I really attribute this to more lower priced homes selling than higher priced homes. I will have to look at last months statistics to see how many higher priced homes sold. I may have to quote that number to show how it affects the Average and Median Sales prices.

I did look this up and I feel I am right as there were only 24 homes that closed above $500,000 in August as compared to 52 in July. I will add these numbers to our table and watch this statistic also. This will have a bigger factor in the Average Sales Price and a small factor in the Median Sales Price.

Total units Sold was 18 less sales than the previous month, still OK. Active listings has continued down over the last 7 months, which is also OK. Listings under Contract went back up from a low in July, which is OK. Average for, Tucson Days on Market, dropped 3 days, which is OK.

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract)

All in all I would not call August a bad month, but a good solid average month, for where we are. I am still thinking this last quarter of 2011 will see us start to level out and price and sales pick up slightly.

I keep track of Notices of Sale, which become Short Sales or Foreclosures, and the number that was in the paper was much higher than my count (838). I did not keep the article but I know my number was lower. I am just looking at Residential and that may be the difference in the numbers, but not sure. Next month I will start posting my count so we all can see how the Notices of Sale are affecting our Tucson Market. These number are for Pima County and include areas not in the Tucson Metro Area, but should be a good way to measure where we are and how soon we might start out of the bottom.

With prices where they are, and interest rates hovering around 4.5%, I can not stress how important the next few months are if you are ready to purchase. Why not call me to discuss what to do. Call me on my cell at 240-7130.