Tucson Real Estate Market Report – August 2010

Tucson Main Market
Active listings in July were 7,047  compared to 6,935 in June.
There were 792 closings in July compared to 1,158 in June.
Median price of sold homes remained the same at $150,000 in July.
There were 1,296 new properties under contract in July 2010,  up 21% from July 2009.
Closings were  32% below July 2009.
Median price of sold homes was  11% below July 2009.

Central Area 
Active listings in July were 931 compared to 930 in June.
There were 111 closings in July compared to 151 in June.
Median price of sold homes was $124,000 in July compared to $125,000 in June.
New properties under contract were up 13% from July 2009.
Closings were 35% below July 2009.
Median price of sold homes was 16% below July 2010.

East
Active listings in July were 504 compared to 453 in June.
There were 50 closings in July compared to 86 in June.
Median price of sold homes was $155,000 in July compared to $136,500 in June.
New properties under contract were down 2% from July 2009.
Closings were  39% below July 2009.
Median price of sold homes was virtually unchanged from July 2009.

North
Active listings in July were 713 compared to 732 in June.
There were 70 closings in July compared to 83 in June.
Median price of sold homes was $360,350 in July compared to $340,000 in June.
New properties under contract were up 23% from July 2009.
Closings were  23% below July 2009.
Median price of sold homes in June was  down 9% from July 2009.

Northeast 
Active listings in July were 431 compared to 440 in June.
There were 40 closings in July compared to 45 in June.
Median price of sold homes was $250,000 in July compared to $231,000 in June.
New properties under contract were up 19% from July 2009.
Closings were  27% below July 2009.
Median price of sold homes was down 14% from July 2009.

Northwest
Active listings in July were 1,761 compared to 1,762 in June.
There were 184 closings in July compared to 287 in June.
Median price of sold homes was $195,000 in June compared to $208,500 in June. 
New properties under contract were up 10% from July 2009.
Closings were 36% below July 2009.
Median price of sold homes was 5% below July 2009.

Oro Valley
Active listings in July were 393 compared to 395 in June.
There were 38 closings in July compared to 68 in June.
Median price of sold homes was $262,500 in July compared to $263,750 in June.
New properties under contract were up 20% from July 2009.
Closings were  21% below July 2009.
Median price of sold homes was  1% above July 2009.

South
Active listings in July were 390 compared to 394 in June.
Closings were 81 in July compared to 112 in June.
Median price of sold homes was $77,000 in July compared to $92,250 in June.
New properties under contract were up 25% from July 2009.
Closings were  13% below July 2009.
Median price of sold homes was down 12% from July 2009.

Southeast
Active listings were 602 in July compared to 554 in June.
There were 57 closings in July compared to 113 in June.
Median price of sold homes was $150,000 in July compared to $150,500 in June.
New properties under contract were  up 4%  from July 2009.
Closings were  49% below July 2009.
Median price of  sold homes was  17% below July 2009.

Southwest
Active listings in July were 452 compared to 420 in June.
Closings were 66 in July compared to 108 in June.
Median price of sold homes was $115,000 in July compared to $105,000 in June.
New properties under contract were up 40% from July 2009.
Closings were 34% below July 2009.
Median price of sold homes was up 11% from July 2009.

West
Active listings were 358 in July compared to 353 in June.
Closings were 53 in July compared to 62 in June.
Median price of sold homes was $120,000 in July compared to $129,450 in June.
New properties under contract were up 25% from July 2009.
Closings were  13% below  July 2009.
Median price of sold homes was 23% below July 2009.