September Residential Sale Statistics

The Tucson Association of Realtors has released the Residential Sales Statistics for September. Average sale price was $182,041, up 1% from a month ago and up 21% after bottoming out exactly a year ago.

The report says days-on-market dropped from 65 in August to 45 in September. Next month we'll see if that is an aberration. There sure have been a lot of bidding wars lately, so it seems possible.

The 938 closed sales indicated a 20% decline in units sold in one month. Again, that looks like a fluke. However, we do typically see a less dramatic decline in sales from September through December. Sale activity has historically accelerated after the holidays.

Short sales and foreclosures are still 41% of the sales.

In September 2011, 38% of the sales were cash. Cash buyers are frequently investors. Last month, 30% of the sales were cash. This is probably because the prices of houses are going up, and the opportunities to fix and flip for profit are getting scarce.

Mountain Horny Toad

Steve and I saw four or five horny toads while we were hiking the Carrie Nation Trail in Madera Canyon. Notice how this fellow's salmon and olive camouflage is just right for his environment. Quite different from his desert cousin, whose photo can be seen on the July 23, 2012 blog post.

Price Reduced on a Lovely Home

Lovely family home in a desirable neighborhood. Well maintained and nicely upgraded. Gorgeous, soaring open-beam ceilings.
Two-sided fireplace is open to living room and family room.
Dining ell has a view to the back yard through the bay window.
Solid masonry construction with high block wall for privacy. Light and bright kitchen with oak cabinets, cheery blue counters and desk.
Big closets and sweet built-in storage. Dual cooling. Raised planter bed, mister on the spacious covered patio, plus ramada and storage shed.
Laundry room inside next to roomy storage room/workshop. Three blocks to Mesa Village Park, and about the same distance to Park Place Mall. See interactive floor plan here.

Sold for $138,000 on December 14, 2012. What a deal. All the foreclosures and short sales in the neighborhood dragged the appraisal down way below what this house is worth.