Housing Inventory Keeps Growing; Highest Volume All Year

Since June, the number of homes for sale has increased steadily, reaching a year-high peak of 7,455 in November. That marks the most active listings since spring 2009 when about 7,500 homes were on the market.

Sales, which peaked during the second quarter due primarily to the federal government’s home buyer tax credit incentives, have been inconsistent ever since. In November, 800 units sold compared to the 752 transactions in October. For the year, sales peaked in May with 1,270 closings and bottomed out at 792 sales in July.

Total sales volume for November was $144.6 million, the year’s third-lowest monthly total according to the Tucson Association of Realtors Multiple Listing Service. October’s volume was the year’s lowest at $133.2 million. April recorded the highest total at $245.4 million.

Of the 800 houses sold in November, the most active area was zip code 85714 where 19 of 33 listings were sold, a 57.6 percent success ratio. This is the general area around Midvale Park along W. Drexel Road just west of Interstate 19.

Zip code 85757, basically the far west side south of Ajo Way near Ryan Field, was the second most-active area where 22 of 127 homes were sold for a 17.3 percent ratio. Next was zip code 85746 where 35 of 206 units sold for a 17 percent ratio. This is basically the far southwest side in the Ajo Way-Mission Road area.

According to the realtors’ data, there were five zones each with over 300 homes for sale during November. The most listings were in zip code 85750 with 394. This is the Sabino Canyon area to the far northeast. The Catalina Foothills zip code of 85718 had 348 listings. The third-most listings were 312 in Green Valley’s 85614 zip code area.

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