Prescott Market Report
REO, foreclosed and short sale new listings remained at a level of about 1 in 6 or 16% of every new listing. Last week 46% of the pending sales were REO or Short Sales, and this week there 58% of deals in escrow were distressed sales. The amount of REO/Short Sales that closed last week still represent about a 1/3 of our listings, and went from 35% last week to 33% this week.
In a nutshell, distressed listings in the Prescott area are selling at twice the pace of traditional sales.
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Survey results were kind of interesting this week…after 3 weeks of declining price votes, the up vote edged up 1% from 30% to 31%. Judging by the new low prices by distressed sellers, we’ll see…
Who knows how far prices will fall , but at least 1/3 of buyers in last week’s market thought that now was the time to buy a distressed property at a discount in the Prescott area market.
If you haven’t voted yet, please do so, and if you have already, thanks! We’ll track what happens over time to the Prescott real estate consumer confidence rating.
Here is the latest 7 days worth of REO/foreclosed and short sale listings in the area:
| MLS # | List Price | SQFT | $/SQFT | Address | City | |||
| 935135 | $113,000 | 2,052 | $55 | 5205 | Sapphire Circle | Cottonwood | ||
| 935133 | $217,900 | 3,013 | $72 | 413 | Ensenada Street | Dewey -Humboldt | ||
| 935304 | $133,500 | 1,800 | $74 | 20021 | Mingus Dr | Mayer | ||
| 935317 | $329,900 | 3,985 | $83 | 1755 | Laurel Lane | Prescott | ||
| 935229 | $79,900 | 940 | $85 | 3301 | Mountain View | Prescott Valley | ||
| 935200 | $124,900 | 1,344 | $93 | 3428 | Navajo Dr | Prescott Valley | ||
| 935288 | $261,900 | 2,555 | $103 | 4713 | Sauter Drive | Prescott Valley | ||
| 935217 | $240,000 | 2,248 | $107 | 7600 | Outlook | Prescott | ||
| 935234 | $214,900 | 1,966 | $109 | 7233 | Woolsey Ranch | Prescott Valley | ||
| 935251 | $142,999 | 1,103 | $130 | 840 | Newton Way | Chino Valley | ||
| 935314 | $209,900 | 1,583 | $133 | 413 | Tangerine Ave. | Prescott | ||
| 935152 | $299,000 | 2,019 | $148 | 1335 | Sabatina Street | Prescott | ||
| 935193 | $395,000 | 2,344 | $169 | 882 | Reta Street | Clarkdale | ||
| 935294 | $335,000 | 1,739 | $193 | 242 | Lakewood Circle | Prescott | ||
Average list price per square foot is $117
To get more information about any of these listings, feel free to contact us, or you can search by MLS number, address, or lots of other ways in our Search MLS section.
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