Tucson MLS Statistics October 2010

Well the other shoe dropped and things are still going down. Most all categories I list have gone in the wrong direction.The only positive item is the Listings under contract which continues to go up since July when we had a big drop.The number of 1899 shows contracts still in escrow at the end of the month. This is probably due to Short Sales and possibly REO listings that are taking time to close and continue to push the number higher as they do not close for a longer time. Over all we really had a down month.

Average Sales Price
$194,834 $189,231 $192,072 $186,562 $181,612 $177,133
Median Sales Price
$151,000 $149,450 $150,000 $150,750 $145,855 $140,000
Total Units Sold*
1270 1170 792 882 873 752
Active Listings
6742 6852 6668 7170 7217 7412
Days On Market
66 81 87 91 93 97
Listings Under Contract**
963 1154 990 1378 1515 1899

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract)

We did see a large slowing in foreclosure filings, but on November 9th they starting hitting again. I keep running into owners that move out of their homes as soon as they get the Notice of Sale. Why??? There are so many better ways to save their credit, while trying to get a Loan Modification and then a Short Sale if the Mod will not work. Some times they can be in their home for many months before the problem is resolved. The Lenders really do not want the homes back, when the owner could help get it sold and not have to wait a longer time before they might qualify for a new FHA loan.

I can help with your up coming foreclosure or your Notice of Sale which gives you at least 91 days from the date of the filing.

If you are a buyer, prices are at, or near, the bottom and interest rates are at Historical lows. Let me help you get your loan qualification going and find that great home for you.

Call me at 520-240-7130 or our office at 520-296-7143 with your request for help or start that home buying process.

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  • Ability Realty, Real Estate, Tucson, AZ
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Tucson, AZ 85710