My Real Estate Blog

RESIDENTIAL REAL ESTATE MARKET REPORT

March 2009

Pending Sales, Closings, and Foreclosures Increase: Listings Decrease

There were 1172 Pima County foreclosure filings in February, up from 955 in January according to RealtyTrac, 1 in every 378 housing units for Tucson, 1 in 101 for Marana, 1 in 95 for Sahuarita and 1 in 58 for Vail. RealtyTrac states the average foreclosure sales price for Pima County at $157,247.

TAR/MLS February Statistics were published March 9, 2009 with the continuing bright spot, an increase in pending sales – up 8.4% from January 09.

Home Units closed also increased, up 12% in February from January. February contained 659 closed sales, compared with 664 in February of ‘08 – less than 1% decline from last year.

Active Listings declined 17.84% to 7532 this February from last year’s 9168, trending down from January’s number of 7,694. Average days on market remained at 84, holding steady after a four month down cycle.

The Median Sales Price increased 9.04% to $178,000 – up from $163,250 in January. Average Sales Price for February 2009 increased by 6.76% from January to $222,207– off from $254,381 last year by 12.65%.