The January sales statistics in the Tucson MLS show that the average sale price was down 2.7% from the previous month, but the median sale price was up 4.17% from December. Let the statisticians argue which is the most accurate reflection of the market, but we won't have a definite trend until both sets of figures are moving in the same general direction for a number of months.
The number of homes sold in January (915) was down 4.79% from the previous month but up 17.3% from the same month in 2011.
Three statistics and trends that do stand out:
- Two thirds of homes sold in January sold for less than $160,000. That price range is where the active market is right now. Homes in that range that are correctly priced for the market and in good condition are often selling in a matter of days.
- Cash is king! 37% of January home sales in the Tucson MLS were cash transactions.
- The number of homes actively on the market has dropped for 13 of the last 14 months and is at the lowest point since September 2005. There are now 4840 homes on the market.