10/29/09

03:48:21 pm "Residential Sales Distribution (2008 vs 2009)" 

10/11/09

06:03:17 pm Residential Price Trends (2002-3rd Qtr 2009) 

10/05/09

04:44:26 pm September Green Valley MLS Activity 

Active Listings
There were 783 active listings at the end of September, 2009. Single family (SF) homes accounted for 467 of the active listings. Town Homes (TH) listings numbered 232; Condos (CD) added 55 active listings; Patio Home (PH) listings totaled 12. The total active residential listings for these four categories was 766. There were an additional 17 active listings with conditional offers that are accepting backup offers. The average active listing price was $231,396 and the average time on market was 172 days.
Areas with the highest number of active listings:
Area Average Price Average DOM
Quail Creek Country Club $359,980 156
Tubac $460,746 222
Rio Rico $176,208 186
Las Campanas $260,665 208
Country Club Vistas $186,170 184

Sold Listings
At the end of September, 2009, there were a total of 59 residential properties under contract. A total of 31 properties sold in September at an average price of $185,677 after 174 days on the market. Single Family residence sales totaled 19 at an average price of $229,095 after 180 days on the market (DOM); Town Home sales added another 7 units, averaging $136,886 after 140 DOM; Condo units brought 4 more sales, at an average price of $86,250 and 148 DOM; and Patio Homes sales totaled 1 at $100,000 and 310DOM.

09/14/09

03:19:46 pm Market Report for August, 2009  

August MLS Statistics

At the end of August, 2009 there were 715 active residential listings. The average list price was $255,057. The average Days-On-Market (DOM) for active listings was 192. The average price per square foot was $140.

There were 42 sales during August at an average sales price of $150,989. The average time on the market was 151 days. On average the price per square foot was $98.

At August’s rate of sales, the current 715 active listings represents almost a year and ½ months of inventory. We would prefer that the active listings be closer to 600 and the number of inventory turns be between 5 and 7 months, which would require sales of around 100 listings per month.

A year ago the sales for August numbered 99 at an average sales price of $181,020. That represents a drop in the average sales price of 17%, but the mix of properties sold is quite different. The current sales are dominated by listings under $225,000 and include many distressed property sales.

08/11/09

01:19:41 pm 1st Half 2009 Overview 

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08/04/09

02:42:30 pm Market Report for July, 2009  

July MLS Statistics

At the end of July, 2009 there were 808 active residential listings. The average list price was $253,692. The average Days-On-Market (DOM) for active listings was 179. Single family residential accounted for 485 listings, Town Homes totaled 214, Condos numbered 59, and the balance of 32 represented mobile and miscellaneous listings. The average listing price for single family listings was $316,383. Town homes averaged $163,371 and Condos averaged $121,614.

Tubac had the greatest number of active listings at 52, for an average listing price of $601,792 and an average Days-On-Market (DOM) of 206. Rio Rico was second with 42 listings at an average price of $197,890 and 174 DOM. Quail Creek was third highest with 40 listings at an average price of $351,248 and 177 DOM.

There were 72 sales during July at an average sales price of $177,858. The average time
on the market for the sold properties was 162 days. Conventional loans numbered 37,
Cash deals accounted for 25 sales. FHA loans totaled 5 and 4 were VA. One was
classified as “other”. Fifty sales were “co-operation” between brokerages and 22 were
sold “in-house”. Quail Creek had the highest number of sales at 8, for an average sales
price of $315,225. Rancho Sahuarita and Rancho Resort each had 4 sales at an average
sales price of $185,063 and $135,375 respectively.

At July’s rate of sales, the current 808 active listings represent 11.2 months of inventory.
We would prefer that the active listings be closer to 600 and the number of inventory
turns be between 5 and 7, resulting in average sales of per month of around 85 to 100.

07/10/09

11:43:42 am Market Report for June, 2009 (including YTD & Year over Year) 

June MLS Statistics

At the end of June, 2009 there were 816 active residential listings. The average list price was $275,398. The average Days-On-Market (DOM) for active listings was 174. Of the 816 active listings, 531 have a single bedroom (average price $226,523), 213 have two bedrooms (average price $324,907), 63 have three or four bedrooms (average price $472,460) and the balance have more than four bedrooms. Generally as the list price increases, the time on the market increases. For example, at an average price of $226,523 the average DOM was 169, but for an average list price of $324,907 the average DOM was 183.

During June there were a total of 120 new residential listings in the Green Valley MLS. For the new listings, the average list price was $246,125. There were 60 sales during June at an average sales price of $177,411. The average time on the market for the sold properties was 163 days.

YTD Statistics
Year to Date (YTD) there have been 415 sold listings. The average sales price was $186,303, which was 92% of average list price. Average time on the market was 164 days.

Year Over Year Statistics
Compared with 2008 the 2009 YTD numbers are unfavorable. Sales are off twenty percent. The average sales price is down ten percent. There are thirty percent more active listings. Only the area south of Canoa Ranch has seen an increase in average sales price (+2%). Other areas change ranged from -5% to -12%. On average sales are off 20%. The northeast area faired the best, with only a 1% decrease in the number of sales.

06/12/09

03:01:57 pm 1st Half 2009 Sales Distribution 

06/10/09

01:11:58 pm Market Report for May, 2009 (including YTD & Year over Year) 

May MLS Statistics

At the end of May, 2009 there were 806 active residential listings. The average Days-On-Market (DOM) for active listings was 174. During May there were a total of 121 new residential listings in the Green Valley MLS. Residential areas with the highest number of active listings include: Tubac (53), Rio Rico (46), Quail Creek CC (45), Country Club Estates (19), Country Club Vistas (19), and Las Campanas (19).

In May, 2009, 65 properties sold. Another 98 sales are pending. The average list price was $270,106. The average sold price was $182,938. Notice that the sold average is only 2/3 (67%) of the average listing average. Forty one of the sold properties were sold by cooperating realty companies. Twenty four properties were sold in-house by the listing company. The non-cooperating sales were on the market for about half the time of cooperating sales. Thirty four sales were financed with conventional loans, twenty three were cash sales, three were FHA, four were VA and one was other. Country Club Vistas (6), Rio Rico (5), Tubac (4) were the highest selling residential areas.

YTD Statistics
Year to Date (YTD) there have been 354 sold listings. The average sales price was $187,880.

05/03/09

04:28:01 pm Market Report for April, 2009  

April MLS Statistics

At the end of April, 2009 there were 878 active residential listings. The average Days-On-Market (DOM) for active listings was 160. During April there were a total of 158 new residential listings in the Green Valley MLS and 67 properties sold. The average list price was $373,541. The average sold price was $193,591. Notice that the sold average represents just 51% of the new listing average. However, the sales price was 92.5% of the asking price at the time of sale.

The data suggest that properties priced under $250,000 are out selling those over $250,000 by a wide margin. A telling statistic is that the number of expired listings under $200,000 represented 37% as many as the new listings. For list prices over $300,000, the ratio was over 75%.

YTD Statistics

Year to Date (YTD) there have been 679 listings and 279 properties have sold. The average new list price was $204,392 and the average sales price was $188,331 (92% of the average new listing price). The average list price of the unsold properties is $309,686. As you can see, the unsold average is 64% higher than the sold average.

Year Over Year Comparisons

Surprisingly, 2009 year-to-date sales quantities are up 4% over the same period in 2008, but the dollar total is down 3%. The average sales price is down 7%. Active listings are up 51%.