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August 2008 Tucson Homes Sales Statistics and Prediction
Tucson home sales for August were nothing spectacular, yet not horrible considering the current market. TAR/MLS reported 903 official sales. Which was 13 sales below what I predicted eight months ago. However, not all the numbers were in when the monthly report is prepared. As of today there were 917 sales. Which was one over what I predicted. I predict September will see a significant decrease to 750 homes. Seasonally home sales decline in the fall and winter months in Tucson. September generally sees a 17% decrease in the number of homes sold when compared to August sales. October should see a 6% increase over September. Its the seasonal trend.
Average home sales price for the month of August was $238,504, with a median of $185,000. A significant difference. There were 10 homes that sold for over $1 million, averaging $1.29 million. There were 174 homes that sold between the median and average sales prices. Fifteen percent of the homes that sold were within the highest range of homes for sale which is the $200,000 to $249,999 range for a total of 135 homes. Fifty seven percent of the homes sold in August sold for under $200,000. Of that over half ... more

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