That’s for single family homes sold in the Tucson Foothills,
blue is average prices/red is median
YTD- 568 homes have sold for an average/median of $473,088/$386,250
vs. the same period last year
531 homes sold for an average/median of $508,248/$415,000
So while sales have inched up, prices have gone down.
And I don’t know if it means anything but this is the reverse of what occurred as the boom was petering out in 06 and into 07 – back then, sales were plummeting yet prices continued to rise.
05 sales/prices – 989 sold/avg sold $618,192
06 sales/prices – 728 sold/avg sold $703,360
1st half 07 sales/prices – 356 sold/avg sold $707,772 (621 sold for the year, and prices did begin to fall after the mortgage meltdown hit in August)
Where we go from here is anyone’s guess. And I’m sure we’d all love to hear what your crystal ball is telling you.
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