Sunday, May 11, 2008

April Residential Sales Statistics

The Tucson Association of Realtors has released the Residential Sales Statistics for April 2008.

The average and median sale prices slipped 2% and 2.5% respectively in the last month, but the number of listings was down 2.4%, and the number of sales was up 8% from March, so we are edging closer to the balanced market we all want.

Currently, there are nine sellers (listings) for each buyer (home unit sold). This means we have a nine month supply of listings. A six month supply, believe it or not, is considered a balanced market. A few years ago, when we had a two month supply of listings and thought that was normal, we were so wrong!

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