The Tucson Association of Realtors has released the Residential Sales Statistics for September.
Yikes! Average sale price was $150,699, down 17% from September last year. Median sale price was $117,500, down 19.4% from a year ago.
The reason for this is clear. Foreclosures and short sales still dominate the market. Of the 1,166 sales in Tucson in September, 534 were foreclosures and 162 were short sales. In other words, 60% of the sales were distressed properties.
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