right now there’s a 5.4 month supply of homes for sale in the foothills
379 for sale ÷ 70 sold in last 30 days = 5.4 month supply, a much touted number.
In March 2012 there was a 4.7 month supply (342 for sale/73 sold)
In March 2011 there was a 7.9 month supply (475 for sale/60 sold)
In March 2010 there was a 9.7 months supply (496 for sale/51 sold)
In March 2009 there was a 12.8 month supply (564 for sale/44 sold)
In March 2008 there was a 12.2 months (546 for sale/42 sold)
So yes, without splitting hairs, this year’s numbers are roughly the same as last year’s, which was a big improvement from past years. So far so good.
But as usual it’s quite a different story when broken down by price range.
in March 2012, it looked like this;
$0 – $599 was squeaky tight at 3.3 months supply (193 for sale/58 sold)
$600 – $999 was at 7.8 months (78 for sale/10 sold)
$1.0m – $1.499 was 9 months (27 for sale/3 sold)
$1.5m – $1.999 was 11.5 (23 for sale/2 sold)
$2.0m & UP was anyone’s guess (21 for sale/0 sold)
in March 2013, it looks like this;
$0 – $599 is still very tight at 3.9 month supply (201 for sale/52 sold)
$600 – $999 is virtually the same at 8 months supply (88 for sale/11 sold)
$1.0 – $1.499 comes in at 11.5 months supply this year (not drastically different from last year)but, months of supply aside, it’s a much more challenging market than last year’s due to 19 more homes for sale and just one more sold (46 for sale/4 sold).
$1.5 – $1.999 with just one less for sale & one more sold (22 for sale/3 sold) it works out to a 7.3 month supply vs.11.5 last year. Hmm, the numbers don’t lie, right. I have my doubts but we’ll see how it pans out.
$2.0 & UP is once again anyone’s guess (22 for sale/0 sold)
And, while we’re at it, what about prices, the average/median for that Feb/March 30 day period,
in March 2012 it was $457,110 / $365,000
in March 2013 it is $493,337 / $376,000
Up is better than down but it’s still just one 30 day period. And prices jump up and down like crazy from one month to the next. So I’d hold off on the cheer until we see three or four or more months of steadily rising prices.
That’s March for you,
see thefoothillsToday.com
to find your Tucson Foothills home