Carefree and Cave Creek, AZ – Real Estate Market Data – October 2012
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October Property sales were 57, down 24.0% from 75 in October of 2011 and 12.3% lower than the 65 sales last month. October 2012 sales were at a mid level compared to October of 2011 and 2010. October YTD sales of 778 are running 7.0% ahead of last year’s year-to-date sales of 727.
The Median Sales Price in October was $315,000, up 11.9% from $281,500 in October of 2011 and up 10.5% from $285,000 last month. The Average Sales Price in October was $375,681, up 7.6% from $349,000 in October of 2011 and down 0.2% from $376,305 last month. October 2012 ASP was at the highest level compared to October of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of October was 352, up 6.0% from 332 last month and down 11.8% from 399 in October of last year. October 2012 Inventory was at its lowest level compared with October of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2012 MSI of 6.2 months was at a mid level compared with October of 2011 and 2010.
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for October was 53, down 43.0% from 93 days last month and down 24.3% from 70 days in October of last year. The October 2012 DOM was at its lowest level compared with October of 2011 and 2010.
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Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.