Tucson real estate : As of November 2011 active luxury inventory was 252, a 21% decrease from November 2010. There were 9 luxury closings in November 2011, 13% above November 2010. Luxury months of Inventory was 28.0, down from 39.8 in November 2010. Median price of luxury sold homes was $1,250,000 for the month of November 2011, up 23% from November 2010. The Luxury market had 13 new luxury properties under contract in November 2011, down 24% from November 2010.
Here is a link to the entire November 2011 Tucson luxury housing report.
Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley & Marana home sales. Contact Lisa for all your Tucson real estate.
Real estate inventory down, closings and prices up. Sounds like we might be turning around in some areas. Have you seen this trend for several months now Lisa?
Yes, this is a trend. For the past 3 months, medium price & closing have increased compared to the same time last year. While there is still an over-supply of luxury homes, I think buyers are realizing the bottom is approaching and now is the time to get a deal.
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