Oro Valley, AZ – Real Estate Market Data – November 2012
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November Property sales were 52, up 4.0% from 50 in November of 2011 and 30.0% higher than the 40 sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010. November YTD sales of 661 are running 18.9% ahead of last year’s year-to-date sales of 556.
The Median Sales Price in November was $262,250, up 10.1% from $238,250 in November of 2011 and down 1.8% from $267,000 last month. The Average Sales Price in November was $280,829, down 14.0% from $326,664 in November of 2011 and down 0.1% from $281,245 last month. November 2012 ASP was at a mid range compared to November of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of November was 322, down 0.6% from 324 last month and down 21.7% from 411 in November of last year. November 2012 Inventory was at its lowest level compared with November of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2012 MSI of 6.2 months was at its lowest level compared with November 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 November was 91, up 3.4% from 88 days last month and down 12.5% from 104 days in November of last year. The November 2012 DOM was at its lowest level compared with November 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.