Sales volume in the distressed home market in the Prescott AZ area is up with 96 homes closing in December. This compares to 84 homes sold by traditional resales during the same period. This is 54% of all sales!
The average price per square foot for REO and short sales was $87 and the average time to sell was 105 days compared to $135 per square foot and 170 days on market for traditional resales. Traditional home sellers are continuing the trend of reducing their prices to sell against the foreclosures and short sales. In fact, you can see that with over 53% of the sales being REOS and short sales that these comps cannot be ignored.
Short sales about 16% of sales: Of the 96 homes sold, 15 were short sales (highlighted in yellow). Short sales are becoming more mainstream as banks and buyers and especially REALTORS figure them out. So many agents are doing the whole industry a disservice by avoiding these transactions.
58% of the homes sold at or more than asking price (see green highlight). This continues to be amazing in a “weak market.” Also note that most of the ones that sold quickly (list is sorted by Cumulative Days on Market (CDOM) received full price offers.
Some of the buyers I am working with right now are trying to get 20% off of the bank’s price. You can see how futile this exercise is when the average is only about 1.5% off.
| Single Family REO-Foreclosed-Short Sales Closed 12/1/09 – 12/31/09 | |||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT | CDOM |
| 68 La Jolla Ln | Paulden | $19,900 | $22,100 | 111.1% | 1,232 | $18 | 26 |
| 4301 Ridge Circle | Prescott Valley | $134,900 | $136,000 | 100.8% | 1,560 | $87 | 26 |
| 6326 Little Papoose | Prescott Valley | $129,900 | $129,900 | 100.0% | 1,548 | $84 | 27 |
| 7969 Sunset Ridge | Prescott Valley | $208,900 | $215,000 | 102.9% | 1,960 | $110 | 28 |
| 6738 Tenby Drive | Prescott Valley | $199,900 | $206,900 | 103.5% | 2,483 | $83 | 29 |
| 1182 Timberridge | Prescott | $346,900 | $350,000 | 100.9% | 2,229 | $157 | 29 |
| 419 La Paz St | Dewey -Humboldt | $143,500 | $162,000 | 112.9% | 1,775 | $91 | 30 |
| 10255 Mummy View Dr | Prescott Valley | $183,900 | $185,000 | 100.6% | 1,562 | $118 | 30 |
| 380 Cottonwood Ln | Chino Valley | $43,400 | $42,000 | 96.8% | 1,368 | $31 | 31 |
| 4815 Sauter Drive | Prescott Valley | $89,900 | $89,900 | 100.0% | 1,365 | $66 | 31 |
| 1106 Boulder Park | Prescott | $124,000 | $124,100 | 100.1% | 1,482 | $84 | 34 |
| 1504 Cathedral Pine | Prescott | $324,000 | $324,000 | 100.0% | 2,522 | $128 | 35 |
| 1000 Sheriff’S Poss | Prescott | $293,040 | $293,040 | 100.0% | 2,174 | $135 | 38 |
| 8580 Ramble Way | Prescott Valley | $132,900 | $141,500 | 106.5% | 1,743 | $81 | 39 |
| 5520 Hondo Dr | Prescott Valley | $101,900 | $107,000 | 105.0% | 1,328 | $81 | 41 |
| 427 La Paz | Prescott Valley | $160,000 | $160,000 | 100.0% | 2,090 | $77 | 42 |
| 7425 Autumn Ln | Prescott Valley | $150,000 | $155,000 | 103.3% | 1,506 | $103 | 42 |
| 10015 Cranberry | Dewey -Humboldt | $140,250 | $130,000 | 92.7% | 1,560 | $83 | 43 |
| 993 Copper Vista D | Prescott | $254,880 | $252,500 | 99.1% | 2,112 | $120 | 46 |
| 1149 Mary Dr | Prescott | $120,900 | $120,900 | 100.0% | 1,386 | $87 | 48 |
| 12027 Turquoise Circ | Dewey -Humboldt | $290,000 | $301,000 | 103.8% | 3,351 | $90 | 48 |
| 12706 Amor Street | Dewey -Humboldt | $132,000 | $133,000 | 100.8% | 1,728 | $77 | 49 |
| 4811 Ponderosa | Prescott | $71,900 | $67,010 | 93.2% | 612 | $109 | 49 |
| 20197 Old Hwy 89 | Paulden | $359,900 | $355,650 | 98.8% | 2,677 | $133 | 49 |
| 10555 Mummy View | Prescott Valley | $287,000 | $287,000 | 100.0% | 2,815 | $102 | 50 |
| 3039 La Questa | Prescott | $430,900 | $435,000 | 101.0% | 3,025 | $144 | 51 |
| 4414 Sauter Dr | Prescott Valley | $142,000 | $142,000 | 100.0% | 1,546 | $92 | 54 |
| 1030 Cloud Cliff Pa | Prescott Valley | $258,900 | $254,450 | 98.3% | 2,362 | $108 | 57 |
| 5180 Diamond Dr. | Prescott | $129,900 | $130,000 | 100.1% | 1,651 | $79 | 58 |
| 4221 Covina | Prescott Valley | $149,900 | $155,000 | 103.4% | 1,893 | $82 | 58 |
| 12835 Chancella Circ | Prescott | $439,900 | $420,000 | 95.5% | 3,623 | $116 | 59 |
| 925 Madizell | Prescott | $183,900 | $185,000 | 100.6% | 3,281 | $56 | 60 |
| 3184 Constance Dr | Prescott Valley | $80,000 | $80,000 | 100.0% | 995 | $80 | 63 |
| 8301 Tranquil Blvd | Prescott Valley | $115,000 | $115,000 | 100.0% | 1,428 | $81 | 65 |
| 7800 Buena Vista | Prescott Valley | $127,900 | $140,000 | 109.5% | 1,405 | $100 | 69 |
| 20630 Cedar Canyon D | Mayer | $59,900 | $59,900 | 100.0% | 1,494 | $40 | 72 |
| 7041 Scenic Vista | Prescott Valley | $131,000 | $129,000 | 98.5% | 1,221 | $106 | 73 |
| 1276 Goose Flat Way | Prescott Valley | $195,000 | $188,000 | 96.4% | 1,864 | $101 | 74 |
| 2790 Queen Street | Prescott Valley | $66,900 | $66,900 | 100.0% | 1,451 | $46 | 76 |
| 3 Tembo Lane | Prescott | $302,000 | $302,000 | 100.0% | 1,819 | $166 | 76 |
| 6164 Viewpoint Driv | Prescott Valley | $124,900 | $130,000 | 104.1% | 1,200 | $108 | 77 |
| 6069 Winchester Dr | Prescott Valley | $100,000 | $105,000 | 105.0% | 1,344 | $78 | 79 |
| 4876 Butterfly Dr | Prescott | $150,000 | $145,000 | 96.7% | 2,313 | $63 | 81 |
| 351 Ensenada St | Dewey -Humboldt | $140,000 | $130,000 | 92.9% | 1,888 | $69 | 81 |
| 9724 Superstition D | Prescott Valley | $171,900 | $172,000 | 100.1% | 2,206 | $78 | 84 |
| 15409 Stetson Dr | Mayer | $74,900 | $68,531 | 91.5% | 1,108 | $62 | 85 |
| 11990 Cielo Grande | Prescott | $327,900 | $311,000 | 94.8% | 2,173 | $143 | 85 |
| 3615 Sharon Dr | Prescott Valley | $74,900 | $65,000 | 86.8% | 1,172 | $55 | 86 |
| 3731 Sharon Dr. | Prescott Valley | $103,000 | $104,500 | 101.5% | 1,084 | $96 | 90 |
| 6241 Viewpoint Dr | Prescott Valley | $119,900 | $130,000 | 108.4% | 1,232 | $106 | 90 |
| 6681 Sandhurst | Prescott Valley | $134,900 | $134,900 | 100.0% | 1,223 | $110 | 92 |
| 4588 Hornet Drive* | Prescott | $325,000 | $315,000 | 96.9% | 2,158 | $146 | 93 |
| 7885 Gazelle Rd | Prescott Valley | $199,900 | $202,900 | 101.5% | 2,082 | $97 | 98 |
| 4161 Tonto Way | Prescott Valley | $99,000 | $99,100 | 100.1% | 1,204 | $82 | 99 |
| 2465 Sequoia | Prescott | $249,900 | $234,000 | 93.6% | 2,792 | $84 | 102 |
| 450 Bramble Drive | Paulden | $40,900 | $40,900 | 100.0% | 863 | $47 | 105 |
| 5236 Verde Ln | Prescott Valley | $119,900 | $123,500 | 103.0% | 1,248 | $99 | 106 |
| 13553 Burton | Mayer | $99,900 | $112,000 | 112.1% | 1,114 | $101 | 107 |
| 1111 Woodspur Cir. | Prescott | $261,000 | $250,000 | 95.8% | 2,366 | $106 | 108 |
| 6655 Kilkenny Place | Prescott Valley | $139,900 | $139,900 | 100.0% | 1,358 | $103 | 111 |
| 76 Wildwood Dr | Prescott | $249,000 | $231,000 | 92.8% | 2,444 | $95 | 112 |
| 3438 Etheridge Dr. | Prescott Valley | $107,000 | $105,000 | 98.1% | 1,488 | $71 | 113 |
| 6704 Brombil *Stree | Prescott Valley | $247,000 | $235,000 | 95.1% | 2,521 | $93 | 114 |
| 90 Cactus Wren Dr | Chino Valley | $57,600 | $51,840 | 90.0% | 1,682 | $31 | 118 |
| 1215 Parkside Villa | Chino Valley | $139,900 | $145,000 | 103.6% | 1,421 | $102 | 118 |
| 17055 Roadrunner Rd | Spring Valley | $75,000 | $74,500 | 99.3% | 1,500 | $50 | 120 |
| 4300 Cypress Circle | Prescott Valley | $140,000 | $140,000 | 100.0% | 1,734 | $81 | 126 |
| 1816 Mountain View | Prescott | $134,900 | $134,900 | 100.0% | 1,602 | $84 | 126 |
| 12941 Ponce | Dewey -Humboldt | $150,500 | $165,000 | 109.6% | 1,775 | $93 | 127 |
| 1350 Yellow Brick R | Chino Valley | $80,500 | $66,500 | 82.6% | 846 | $79 | 132 |
| 752 Meadowlark Lan | Prescott | $191,900 | $185,000 | 96.4% | 1,719 | $108 | 134 |
| 6544 Deacon St | Prescott Valley | $275,000 | $268,250 | 97.5% | 3,066 | $87 | 135 |
| 1990 Javalina Path | Chino Valley | $32,500 | $25,000 | 76.9% | 1,224 | $20 | 141 |
| 4900 Keekoman | Prescott | $265,500 | $248,000 | 93.4% | 2,160 | $115 | 142 |
| 20035 Pinto Dr. | Cordes Lake | $123,400 | $115,000 | 93.2% | 1,637 | $70 | 143 |
| 8150 Prescott Ridge | Prescott Valley | $238,200 | $196,500 | 82.5% | 1,906 | $103 | 144 |
| 17470 Roper Way | Dewey -Humboldt | $75,000 | $69,000 | 92.0% | 2,172 | $32 | 145 |
| 9110 Smoki Trail | Dewey -Humboldt | $63,900 | $64,000 | 100.2% | 3,149 | $20 | 147 |
| 7809 Highview | Prescott Valley | $155,000 | $150,000 | 96.8% | 1,445 | $104 | 149 |
| 1615 Purple Sage | Chino Valley | $44,900 | $40,000 | 89.1% | 1,152 | $35 | 151 |
| 1190 Hope Trail | Dewey -Humboldt | $115,900 | $90,000 | 77.7% | 2,100 | $43 | 153 |
| 11111 Ironwood Lane | Dewey -Humboldt | $169,000 | $162,000 | 95.9% | 2,744 | $59 | 156 |
| 5349 Bremont Way | Prescott Valley | $139,900 | $142,000 | 101.5% | 1,358 | $105 | 162 |
| 20212 Hereford | Cordes Lake | $69,900 | $69,900 | 100.0% | 1,120 | $62 | 169 |
| 735 Ahonen Rd | Paulden | $94,900 | $94,900 | 100.0% | 1,924 | $49 | 182 |
| 7290 Hootennanny Rd | Prescott | $59,900 | $60,000 | 100.2% | 900 | $67 | 186 |
| 4070 Cedar Heights | Chino Valley | $187,500 | $165,000 | 88.0% | 1,659 | $99 | 194 |
| 1662 Constable | Prescott | $400,000 | $352,500 | 88.1% | 2,556 | $138 | 211 |
| 4534 Kirkwood Ave | Prescott Valley | $245,000 | $240,000 | 98.0% | 2,470 | $97 | 226 |
| 7140 Spur Road | Prescott | $170,000 | $170,000 | 100.0% | 2,583 | $66 | 237 |
| 20154 Saguaro Dr | Mayer | $79,000 | $78,000 | 98.7% | 1,056 | $74 | 245 |
| 13076 Madrid | Prescott Valley | $140,900 | $140,900 | 100.0% | 1,888 | $75 | 261 |
| 4400 Juniper Dr | Chino Valley | $149,900 | $149,000 | 99.4% | 2,256 | $66 | 278 |
| 30 Jay Bird Lane | Dewey -Humboldt | $285,000 | $280,000 | 98.2% | 3,443 | $81 | 282 |
| 4750 Quiet Canyon P | Prescott | $675,000 | $665,000 | 98.5% | 3,102 | $214 | 304 |
| 4201 La Jolla | Prescott Valley | $260,000 | $260,000 | 100.0% | 3,800 | $68 | 469 |
| Number of Homes: | 96 | ||||||
| Average | $170,865 | $168,069 | 98.5% | 1,864 | $87 | 105 | |
| Median | $140,000 | $141,200 | 100.0% | 1,724 | $84 | 88 | |
| MLS Data as of: | 1/2/2010 | *Source: PAAR MLS | |||||
See: Why short sales aren’t always a good deal.
Considering making an offer in today’s distressed home marketplace in Prescott or Prescott Valley?
See: Top 10 tips to win the REO multiple offer game.
For more information on any of these listings, please contact me.
Search for Prescott area REO/Foreclosed and Short Sale Listings
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