Tucson Home Sales September 2008

Tucson home sales for September broke the mold for seasonal sales. Normally sales in September are less than August. Not in 2008. Go figure, the economy has tanked, credit has tanked, nobody fully trusts either candidate for President, nothing but negative-negative-negative in the economic news, yet Tucson home sales go up.

Overall, volume was less by 5.72%. However, number of sales increased. Average and median prices fell. Getting closer and closer to affordability for many potential home buyers.

By the numbers:

• Home Sales Volume: Decreased 5.72%
• 8/08 $215,369,442
• 9/08 $203,048,605
  
• Average Sales Price: Decreased 8.85%
• 8/08 $238,504
• 9/08 $217,397
  
• Pending Contracts: Decreased 4.78%
• 8/08 878
• 9/08 836
  
• Active Listings: Increased 1.22%
• 8/08 7,763
• 9/08 7,858
  
• New Listings: Increased 4.46%
• 8/08 1,952
• 9/08 2,039
  
• Home Sales Units: Increased: 3.43%
• 8/08 903 (917 actual)
• 9/08 934 (947 actual)
  
• Median Sales Price: Decreased 2.43%
• 8/08 $185,000
• 9/08 $180,500
  

Are buyers realizing bargains and moving on them? Should we hold our breath? Are sales improving? We would all like to say yes.September my be a sign of hope or a fluke. Time will tell. As you remember, last in last month’s message, my prediction for September was a mere 750 sales. Glad I was wrong by a large margin.

October generally sees an increase over September, I predicted 792 for October. Let’s pray that I am equally wrong on that one. I don’t mind being wrong, when it is for the better. Imagine if our politicians admitted when they are wrong. See you next month.

This entry was posted on Friday, October 10th, 2008 at 10:19 am and is filed under Tucson Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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