Prescott area REO and short sale homes sold 4-1-09 – 4-15-09

By Patrick Schutte, Certified Foreclosure Specialist, on April 16th, 2009

Prescott Area Market Report

Activity in the distressed home market in the Prescott AZ area remains strong with 28 homes closing in the first 15 days of April. This compares to 41 homes sold by traditional resales during the same period.

The average price per square foot for REO and short sales was $90 and the average time to sell was 102 days compared to $123 per square foot and 235 days on market for tradional resales. You can see that the REO and short sales market in Prescott and Prescott Valley is moving much quicker and at a much lower average price.

Short sales few: of the 28 homes sold, only 3 were short sales (highlighted in yellow).

Over 1/3 of the homes sold for more than asking price (see green highlight) and got multiple offers to get there. This tells me that multiple buyers are getting in the game. Before you enter the fray, please read: Top 10 tips to win the REO multiple offer game.

Single Family REO-Foreclosed-Short Sales Closed 4/1/2009 – 4/15/2009
Address	City	List Price	Sale Price	SP/LP	SQFT	$/SQFT	CDOM
10700 Austin Lane	Mayer	$42,000	$24,000	57.1%	1,296	$19	242
3900 Harvest Way	Paulden	$75,000	$74,000	98.7%	2,124	$35	75
17951 Quiet Valley	Dewey -Humboldt	$100,000	$95,500	95.5%	2,359	$40	84
300 Overland Rd	Prescott	$109,900	$109,900	100.0%	1,730	$64	95
1601 Dewey Rd	Dewey -Humboldt	$284,900	$273,000	95.8%	3,872	$71	75
7265 Race Track	Prescott	$212,000	$199,500	94.1%	2,702	$74	87
12708 Tierra Aspera	Dewey -Humboldt	$145,900	$121,000	82.9%	1,629	$74	240
6250 Country Road	Mayer	$125,000	$120,000	96.0%	1,568	$77	100
7194 Sienna Spring	Prescott Valley	$309,900	$280,000	90.4%	3,654	$77	178
8801 Loos Dr.	Prescott Valley	$78,300	$74,800	95.5%	968	$77	140
4348 Sauter Drive	Prescott Valley	$129,900	$113,000	87.0%	1,400	$81	231
3216 Corrine Drive	Prescott Valley	$98,900	$98,900	100.0%	1,202	$82	112
552 Magdalena St.	Dewey -Humboldt	$157,700	$154,000	97.7%	1,775	$87	20
959 Caballos	Dewey -Humboldt	$165,240	$167,000	101.1%	1,893	$88	37
2335 Hohokam	Chino Valley	$85,900	$89,000	103.6%	1,008	$88	114
2450 Big Oak Circl	Prescott	$290,000	$290,000	100.0%	3,216	$90	38
4080 La Jolla Dr	Prescott Valley	$119,900	$124,000	103.4%	1,366	$91	64
4689 Lava Ln.	Prescott Valley	$161,000	$158,000	98.1%	1,585	$100	123
7113 Sunup Pass	Prescott Valley	$161,900	$162,000	100.1%	1,623	$100	66
4600 Cherokee Cir	Prescott Valley	$144,690	$140,000	96.8%	1,399	$100	46
5450 Cattlemen	Prescott Valley	$158,100	$152,000	96.1%	1,483	$102	92
7503 Traders Trail	Prescott Valley	$275,000	$264,000	96.0%	2,533	$104	166
7097 Sunrise Vista	Prescott Valley	$167,900	$172,000	102.4%	1,568	$110	38
6661 Sandhurst Dr	Prescott Valley	$135,900	$136,900	100.7%	1,223	$112	66
4961 Living Rock C	Prescott	$219,900	$219,900	100.0%	1,792	$123	42
1340 Oregon Ave	Prescott	$199,900	$180,000	90.0%	1,452	$124	178
840 Newton Way	Chino Valley	$142,999	$140,500	98.3%	1,103	$127	58
1160 Northridge Dr	Prescott	$799,900	$985,000	123.1%	4,867	$202	44
Number of Homes:	28
	Average	$182,058	$182,782	96.4%	1,943	$90	102
	Median	$151,800	$146,250	97.9%	1,604	$88	85.5
MLS Data as of:	4/27/2009	*Source: PAAR MLS

For more information on any of these listings, please contact me.

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