As February 2010 came to a close it was painfully clear that the Green Valley, AZ real estate market has not yet stabilized.  While sales were consistent with 2009--in February 2009 there were 64 sales as compared to 63 in February 2010--the average selling price has declined 10% as compared to last year. 

The number of solds in the greater Green Valley, AZ market increased from 49 in January 2010 to 63 in February 2010.   However, the year-to-date comparison between 2009 and 2010 reveals that the average selling price has declined from $181,005 in 2009 to 164,601 in 2010. 

There were 738 Active Listings in Green Valley at the end of February 2010 as compared to 672 at the end of February 2009.   Another dramatic change from February 2009 is that the average listing price has dropped from $285,167 in 2009 to $242,492 in February of 2010. 

The breakdown for the active residential listings as of February 28, 2010 were as follows:

GREEN VALLEY

(includes Quail Creek & surrounding subdivisions)

738

SAHUARITA

(includes subdivisions N of Duval Mine Road & Duval Mine Rd.

  97

AREAS S & SE & SW OF GREEN VALLEY

(includes Elephant Head, Amado, Aravaca, Montana Vista & Lakewood)

  20

AREAS N & NE & NW OF SAHUARITA

(includes Vail, Curley, Horn Ranch, Ocotillo Ranch, etc)

    2

TUBAC & TUMACACORI

 

  66
TUCSON     1
RIO RICO   24

OTHER

(includes Nogales, etc)

    1
   

Between February 1-28, 2010 there were 63 homes sold, a healthy increase from 49 in January, 2010.  The breakdown by area for those sales were as follows:

GREEN VALLEY                                                54
SAHUARITA   2
TUBAC   5
VAIL, NOGALES, RIO RICO, ARIVACA/AMADO   1

Following is the 2009 to 2010 year-to-date comparison for the time period of January 1 through February 28:

  2009 2010
Houses Sold 116 114
Days On Market 168 165
Average Selling Price $181,005 $164,601
Median Price $155,500 $153,750