There are a number of very positive signs in the residential sales statistics for June 2007. For the first time this year, active listings are down compared to last year-the June '07 inventory of 8,665 was .69% below June '06 and significantly below the 9,721 of last month. new listings comin on the market also fell in June 2007 to 2,820- a 12.75% decrease from this month last year.
Pending contracts are also newsworthy-they are up over 2,000 for the first time in 2007, rising to 2,053 last month. This is an increase of 18.9% over June 2006, and the highest number we have seen in over 12 months.
Our average sales price is also on the move, increasing 9.05% from June 2006 to total $298,477 in June 2007. This is a record price for Tucson and far exceeds any sales price we saw in 2005 or 2006. Median sales price also increased to $229,000.
Quite a month for real estate in Tucson! Our inventory is down, new listings are down and pending contracts are up- all good signs for our market.
For more information on Tucson Real Estate visit my website at http://www.tucsonhouses4you.com/
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