Being familiar with real estate statistics in a specific area can be quite enligtening and help one make better, informed decisions.  

The housing inventory helps one discern whether it's a buyers or a sellers market.  Less than 3 months of inventory indicates a seller's market while over 3 months of inventory indicates a buyer's market.  One should  compare, or ask their Realtor, what the current inventory is and how it compares to previous months. 

Average days on market is calculated based on sold listings. The sold price/list price differntial is something that a real estate buyer or seller should be aware of.  The higher this ratio, the more potential buyers there are for that property.  

For sale v. sold identify the price range the majority of properties in a given area.

The average price per square foot is also important in a given area. It helps one determine competitive pricing strategies and/or a competitive buy strategy.

Many statistics are available online or simply email/call me for more information.  I'd be glad to provide you with all the information you'd like.  grichman@RichmanTucsonHomes.com/520-248-1239.

Multiple Listing Service of Southern Arizona Monthly Statistics October 2017

Below are some highlights from the October Residential Sales Statistics:

• Total Sales Volume of $288,890,599 is a decrease of 3.75% since last month’s number of $300,150,958 but is an increase of 12.5% since October 2016.

• The Average Sales Price of $238,358 is a decrease of 3.75% from $247,649 last month.

• Average List Price of $243,801 is down 3.60% from September.

• Total Under Contract of 1,653 is an increase of .12% since last month.

• Total Unit Sales of 1,212 matched last month’s number of 1,212, but is an increase of 3.95% since October 2016.

• The Median Sales Price decreased by 3.39% to $199,900 from $206,915 in September, but is an increase of 12.30% since October 2016.

• New Listings are up 2.71% since September.

• Total Active Listings of increased 2.84% to 3,689 from 3,587 last month.

• Average Days on Market continues to slowly decrease, going from 42 in September to 40 this month.

• Conventional loan sales of 43.7% exceeded Cash Sales of 23.7%.

Please don't hesitate to call or email.  It would be my pleasure to provide you with more information and insights, share my property marketing strategies with you, and/or help you find the property that best suits your wants and needs.