Tucson Real Estate Market Report – March 2011

24Mar11

Tucson Main Market
Active listings in February 2011 were 8,169 compared to 8,225 in January 2011. 
There were 865 closings in February compared to 769 in January.
Median price of sold homes was $137,900 in February compared to $134,500 in January.
There were 1,103 new properties under contract in February 2011, down 3% from February 2010.
Number of closings in February 2011 was 20% above February 2010.
Median price of sold homes in February 2011 was 8% below February 2010.

Central
There were 1,016 active listings in February 2011 compared to 984 in January 2011.
There were 89 closings in February compared to 95 in January.
Median price of sold homes was $115,000 in February compared to $110,000 in January.
Number of new properties under contract in February 2011 was down 34% from February 2010.
Number of closings in February 2011 was 24% above February 2010.
Median price of sold homes in February 2011 was 17% above February 2010.

East
There were  523 active listings in February 2011 compared to 525 in January 2011.
There were 54 closings in February compared to 61 in January.
Median price of sold homes was $127,900 in February compared to $124,000 in January.
Number of new properties under contract were up 10% from February 2010.
Number of closings in February 2011 was 8% above February 2010.
Median price of sold homes in February 2011 was down 10% from February 2010.

North
There were 807 active  listings in February 2011 compared to 810 in January 2011.
There were 78 closings in January compared to 54 in January.
Median price of sold homes remained the same at $300,000 in February.
Number of new properties under contract was down 3% from February 2010.
Number of closings in February 2011 was 14% below January 2010.
Median price of sold homes in January 2011 was down 39% from February 2010.

Northeast
The number of active listings in February was 443 compared to 416 in January.
There were 37 closings in February compared to 36 in January.
Median price of sold homes was $221,100 in February compared to $206,700 in January.
Number of new properties under contract in February 2011 was 12% below February 2010.
Number of closings in February 2011 was 10% below February 2010.
Median price of sold homes in February 2011 was down 4% from February 2010.

Northwest
There were 2,074 active listings in February 2011 compared to 2,107 in January.
There were 243 closings in February compared to 197 in December.
Median price of sold homes was $185,000 in February compared to $168,000 in January.
Number of new properties under contract in February 2011 was up 14%  from February 2010.
Number of closings in February 2011 was 27% above February 2010.
Median price of sold homes in February 2011 was 14% below February 2010.

Oro Valley
There were 504 active listings in February 2011 compared to 508 in January.
There were 53 closings in February compared to 37 in January.
Median price of sold homes was $265,000 in February compared to $200,000 in January.
Number of new properties under contract in February 2011 was down 5% from February 2010.
Number of closings in February 2011 was 51% above February 2010.
Median price of sold homes in February 2011 was down 7% from February 2010.

South
There were 556 active listings in February compared to 558 in January.
There were 63 closings in February compared to 65 in January.
Median price of sold homes was $74,500 in February compared to $75,000 in January.
Number of new properties under contract in February 2011 were up 3% from February 2010.
Number of closings in February 2011 was 5% below February 2010.
Median price of sold homes in February 2011 was down 12% from February 2010.

Southeast
There were 658 active listings in February compared to 675 in January.
There were 75 closings in February compared to 71 in January.
Median price of sold homes was $128,500 in February compared to $141,000 in January.
Number of new properties under contract in February 2011 were down 1% from February 2010.
Number of closings in February 2011 was 32% above February 2010.
Median price of sold homes in February 2011 was 16% below February 2010.

Southwest
The number of active listings in February was 590 compared to 609 in January.
There were 74 closings in February compared to 60 in January.
Median price of sold homes was $90,000 in February compared to $85,000 in January.
Number of new properties under contract for February 2011 was down 13% from February 2010.
Number of closings in February 2011 was 4% above February 2010.
Median price of sold homes in February 2011 was down 14%  from February 2010.

West
The number of active listings in February 2011 was 420 compared to 427 in January 2010.
There were 37 closings in February compared to 44 in December.
Median price of sold homes was $115,900 in February compared to $140,500 in January.
Number of new properties under contract in February 2011 was down 3% from February 2010.
Number of closings in February 2011 was virtually unchanged from February  2010.
Median price of sold homes in February 2011 was down 8% from February 2010.

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