Oro Valley Real Estate Statistics June 2007


The Tucson MLS Statistics are out for June 2007. Oro Valley is part of the Northwest area of Tucson and here is the breakdown of the figures for the month of June compared to the previous three months of the year.

Oro Valley MLS Statisitcs for June 2007

Description

Mar 07

Apr 07

May 07

June 07

Number of Sold Units

303

316

323

310

YTD Sold Listings

786

1102

1457

1779

Average Days on Market

69

73

67

73

Active Listings

2682

2668

2617

2343

New Listings

690

783

791

725

Average Sale Price

$306,963

$318,905

$340,820

$347,165

Absorption Rate

8.85 mo.

8.44 mo.

8.10 mo.

8.10 mo.

Number of Sold Units is down slightly for the month of June but as you can see it hasn’t moved far from the 300 units a month mark for the past 4 months. 

Active Listings in Oro Valley are down by 274 units.  This is good and reflects a decrease in the number of homes on the market all around the Tucson area.

New Listings also decrease for the month of June down to 725 from 791 new listings in May.

Average Sale Price has increase steadily this year and June is no expection adding on another $6,000+ over last month.  While asking prices are coming down, buyers should be aware that sale prices have continued a steady increase over most of 2007.  Looking at the table above we can see the avarage sale price as increased by more than $40,000 since March of this year.

The Absorption Rate has not changed much in the past 4 months and for June came in at the same place as May.  The absorption rate is how many months of inventory are on the market based on the number of active listings divided by the number of sold units for a given month.

Average Sale Price by Number of Bedrooms

I included this table last month and have added the June figures to the table.  It is intersting to see the sale prices broken down in this way.

Month 0-2 Br 3 Br 4 Br 5+ Br All Br
           
March
$262,446
$275,427
$386,798
$733,111
$306,963
April
$277,228
$303,790
$348,267
$512,482
$318,905
May
$269,700
$319,839
$411,737
$481,655
$340,820
June
$265,539
$282,280
$477,143
$446,163
$347,165

In the bedrooms race for the month of June the 4 bedroom homes came out the clear winner for the month. Actually, it isn’t a race, and a single sale of a million dollar home in any one of these categories in a sampling area as small as Oro Valley can skew the figures dramatically. So don’t go making adjustments to asking prices or offers on a home based on these figures. They as for informational purposes only.

Tucson Area Real Estate Statistics for June 2007

For a complete breakdown and analysis of the Tucson MLS Statistics for June 2007 read the Tucson Real Estate in the News

Here is the link to last months post with a good explanation of the difference in Asking Price vr Sale Price. It is still very relevant to the June report and the July Oro Valley Real Estate Market.