Residential Sales Statistics

The Tucson Association of Realtors has published the Residential Sales Statistics for July.

Average sale price is $167,172, up 3.57% from June, but down 9.86% from July last year. Median sale price is $125,000, down 0.79% from June and down 16.67% from last July.

1,124 properties sold in July, a healthy 41.92% increase from last July, when the Federal housing credit giveaway program had just expired, and many buyers cancelled their purchase contracts because they couldn't get the free money.

Of the 1,124 July sales, 844, or 75%, were under $200,000.

Foreclosures accounted for 46% of the sales, and short sales were 10% of the sales.