June Residential Sales Statistics

The Tucson Association of Realtors has published the Residential Sales Statistics for June. Average and median sale prices are down 9.4% since June last year. From May to June this year, average price declined 2.9% to $189,231 and median price declined 1% to $149,450. This is the first time the median has been below $150,000 since January 2004.

Once again, 87% of the sales were below $300,000. With 5,979 listings under $300,000 and 1,015 sales under $300,000, we have a 5.9 month supply of listings in that range. This is below the six month supply that is considered a balanced market, so the advantage is tipped slightly toward the seller for an appropriately-priced house in this price range. However, sellers are being asked to contribute to buyers' closing costs and make repairs.

Overall, we had 7,997 listings and 1,170 sales in June, for a 6.8 month supply of listings in all price ranges.