Here’s a look at the number of single family homes sold in the Tucson Foothills during September of this year and, for comparison, during past Septembers.
|year||# sold||avg/med sold $$||$/sf||avg DOM|
With the understandable exception of 2008, it’s pretty interesting how the number of homes sold during various Septembers is so consistent. If only that were true for prices over the years. The slide in avg & med sold prices since 2007 – which amounts to 44 & 47% - is downright alarming.
But does that mean prices in the Tucson Foothills are down 44 & 47% – average/median - since 2007. No, not necessarily. It means they’re down 44 & 47% for this September vs September 2007.
September is just one month and the data from one month is too small and narrow and subject to too many short term spikes and drops in sales for any one month to be representative of where the market really is. This September obviously took the brunt of the overall weakening resulting from the market crash of early August.
But it certainly bears keeping an eye on from here on out.
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