I just pulled the data on how many homes have sold so far this year;
62 single family homes sold in the Tucson Foothills at an average/median/$/sf of $434,863/$360,000/$159sf
OK, but is that good, bad or what does it mean. Let’s see how it compares to previous years
for the same period last year
54 homes sold at an avg/med/$/sf of $559,616/449,500/$178sf
so fewer homes sold but they sold for a lot more $$$
and same period 2009
41 homes sold at an avg/med/$/sf of $557,215/$450,000/$193sf
fewer still, but for a lot more $$$
and 2008 (before any really serious fallout)
47 homes sold at an avg/med/$/sf of YIKES $781,225/$530,000/$230sf
would you look at those prices
2007 (the age of innocence)
61 homes sold at an avg/med/$/sf of $677,025/$525,000/$237
more sold in 2011 than in 2007
if this keeps up sooner or later prices are going to bottom out (which I suspect they already have in the lower 1/3 of the market)
so the other day in my post > homes sold in the last 30 days in the Tucson Foothills < I remarked that the 33 homes sold in 30 days was a measly amount. And it is.
But I may have been hasty. Because now, in just 3 days 11 more homes have sold + the 18 sold in the first 15 days, brings us to 62 sales in 47 days. or thereabouts.
That aside, any way you count it sales this year are beating the pants off previous years - yes, most of it is at the lower end, but with a growing assist from the mid market, and, while the upper- end has shown some feint signs of life lately, that jury is still (way) out.
