Here are the sales statistics from the Multiple Listing Service of Southern Arizona.
Median sale price in Southern Arizona increased 7.77% in one month from August to September 2017, and increased 17% from September 2016 to 2017.
There were 3,587 active listings for sale in September, which is very low supply. There were 1,212 home sales, which is high for September, but September sales have been higher than average for the past three years. The ratio of active listings to sales is 3,587 divided by 1,212 = 2.96 to 1. Anything under a 6 to 1 ratio is considered a sellers' market. The average sale price of a single family house was $271,000.
Thursday, October 26, 2017
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