Sales are up but prices are (still) down.
Here are the numbers for May sales of single family homes in the Tucson Foothills.
| year | # sold | Avg sold $ | Med sold $ | @ $/sf | @ $1.0+ |
| 2010 | 55 | $476,505 | $385,000 | $169/sf | 4 sold |
| 2009 | 41 | $510,266 | $370,000 | $187/sf | 3 |
| 2008 | 56 | $604,141 | $476,000 | $218/sf | 7 |
| 2007 | 64 | $707,223 | $564,750 | $238/sf | 11 |
| 2006 | 81 | $622,589 | $570,000 | $231/sf | 8 |
The good news is that sales are up. And more sales, and cleaning out the bargain bin of distress sales, is the first step to stabilizing prices. And that’s still in the works.
Meanwhile, the average sold price is down 6.6% from last May and down 32.6% from those carefree days of May of 07. And while one months worth of sales is too few to accurately gauge prices, there’s no question that prices are still down. And there are no signs, none that I can see, that prices will be rising anytime soon. Not for homes priced much over $600k anyway. Below that, maybe. And the higher $$ you go, the worse it gets.
see thefoothillsToday.com
to find your Tucson Foothills home
