DOI, days of inventory, is an excellent benchmark to show the
velocity of transactions in relation to the market inventories.
This measurement is a broad one and will vary (in some cases
dramatically) by price range, location and type of property.
In the Tucson Foothills;
Currently there are 562 homes for sale.
In the last 30 days 46 homes have sold.
562/46 = 12.2 months of inventory
(days of Inventory reflect the time period required to sell all the properties on the market given the number of closed transactions in the preceding month provided no new product becomes available)
12.2 months of inventory is about 2X what is considered normal.
A year ago at this time, there were about 450 homes for sale in the Foothills. And 42 homes had sold during the same 30 day period.
450/42 = 10.7 months of inventory
So at this point in time, inventory has inched up, while sales are keeping pace, vs. last year.
For a more detailed view of home sales in the Tucson Foothills
for Jan-Feb of 08 vs. 07, see -
2008 Tucson Foothills home sales, so far
*These figures are for single family homes - no condos, no townhomes - sold through the Tucson Association of Realtors MLS.
see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes
