Tucson Housing Market report for July 2007

Tucson, AZ

Tucson Association of Realtors market report for July 2007

Tucson Association of Realtors just released the monthly statistical digest. LETTER FROM THE PRESIDENT

There are a number of interesting statistics to report for July 2007. After rising for several months, both average and median sales prices have decreased compared to this time last year. The average sales price in July 2007 was $268,983, down 1.73% from $273,717 in July 2006. Median sales price also decreased 2.78% to $218,750 in July 2007.

Pending contracts were up last month, rising 63.18% from July 2006. Pending contracts totaled 1,777 in July 2007 – our second largest total this year. We should see these contribute to an increase in unit sales for August. Unit sales in July were down 10.51% from last year, totaling 1,098.

New listings are also slowly decreasing down from 3.52% from July 2006 to 2,766 in July 2007. The number of new listings taken each month has slowly decreased over the summer from a high of 3,085 we saw in April 2007.

Judy Lowe

2007 MLS President

Click Here to read the full report.

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