Tucson Real Estate In The News

Our Take on the Tucson Real Estate Market

Tucson Real Estate Tracking February 2008 Closed Transactions

February 19, 2008

I’ve not only been following the additional closed transactions being added to the January total, which by the way is now at 613, I’ve also been tracking the closed transactions as they go into the Tucson MLS System for February as well.

Quick Thought: The closed tranactions for February are usually January offers.

Last Friday February 15, 2008 there were 199 closed transactions entered into the system.

Monday evening February 18, 2008 there were 291. There were almost a 1/3 of the months closed transactions entered on Monday.

I just pulled the closed transactions at Noon and here is the results.

Those those who have eye sight like I do there is what is in the Quick Stats. (These are averages)

• Residential Sold: 301
• Listing $: $274,071
• SqFt: 1774
• Listing Pr SqFt: $144
• DOM: 91
• Sale $: $257,989
• Selling Pr SqFt: $136

I’ve been following this for enough months over the past couple of years to know these figures for Listing $ and Selling $ averages are lower than they have been in the past couple of years. The average Selling Pr SqFt has been slowly coming down as well.

It looks like there were more offers made in January than in December of last year. But we will all wait and see as the end of the month draws closer.

Final Thought: Let’s see it is the 19th of February and we still don’t have the Tucson MLS Statistical Report for January and sales are continuing to be added. Seems the New Year has brought us the Same O, Same O.

Share This

2 Responses to “Tucson Real Estate Tracking February 2008 Closed Transactions”

1. Steve in Tucson Says:
   February 19th, 2008 at 8:02 pm

   Thank you Dave, over the last few months you’ve convinced me there is a problem with MLS reporting in Tucson. With the automated system we use (and pay for) it doesn’t seem reasonable that it would take more than 19 days to produce monthly statistics. Neither does it seem reasonable to accept a regular “fudging” of the historical monthly numbers. If sales numbers change after the official release of the stats due to laggardly updates then I think the official record should be revised to what we know are more accurate amounts.
   Personally, I would like to see two official releases: the first being within a few days or so of the end of the month. Call these the “provisional” stats. A month or two later, whatever amount of time is needed, release the permanent, official statistics. I think it would help to illustrate how much of a problem we have with the laggards.

2. David Smith Says:
   February 19th, 2008 at 8:13 pm

   Steve,

   I think that is an idea with real merit. I too would really like to have an accurate report even if it takes until a few days before the next months provisional report is released to have the permanent report.

   The next thing that needs to happen is the follow through on the fines for those that are entering their transactions late.

   It isn’t enough to threaten them with fines. The fact that there are 29 listings entered for January after the date a fine is to be levied. Now those fines need to be assessed collected and recorded. We don’t need the names of the offenders but it would be nice to see how much is collected each month for a few months to serve as warning to others.

   “If you don’t enter this data on time you will be fined.”

   BTW the report was released about an hour after I wrote this post. But they are provisional numbers which unfortunately will more than likely be the final numbers.

Leave a Reply