Prescott Area Market Report
Activity in the distressed home market in the Prescott AZ area remains moderate with 19 homes closing in the first 15 days of May. This compares to 42 homes sold by traditional resales during the same period.
The average price per square foot for REO and short sales was $98 and the average time to sell was 115 days compared to $138 per square foot and 239 days on market for tradional resales. You can see that the REO and short sales market in Prescott and Prescott Valley continues to move quicker and at a much lower average price.
Short sales about 20% of sales: of the 19 homes sold, 4 were short sales (highlighted in yellow).
Over 1/4 of the homes sold for more than asking price (see green highlight), sold fairly quickly, 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 5/1/2009 – 5/15/2009 | |||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT | CDOM |
| 275 Aspen | Paulden | $10,600 | $10,000 | 94.3% | 720 | $14 | 47 |
| 17397 Trails End Rd | Mayer | $39,900 | $35,000 | 87.7% | 940 | $37 | 36 |
| 16749 Cordes Circle | Cordes Lake | $39,900 | $37,500 | 94.0% | 772 | $49 | 44 |
| 3465 Robert Road | Prescott Valley | $134,900 | $125,000 | 92.7% | 1,925 | $65 | 124 |
| 12838 De La Cruz St | Dewey -Humboldt | $154,900 | $154,900 | 100.0% | 2,160 | $72 | 43 |
| 955 Rolling Green | Dewey -Humboldt | $150,000 | $145,000 | 96.7% | 1,908 | $76 | 18 |
| 7847 Las Palmas | Prescott Valley | $135,900 | $132,900 | 97.8% | 1,458 | $91 | 71 |
| 12716 Garcia | Prescott Valley | $144,900 | $174,900 | 120.7% | 1,893 | $92 | 82 |
| 5126 Mission Lane | Prescott Valley | $137,500 | $124,000 | 90.2% | 1,318 | $94 | 133 |
| 8721 Mission Circl | Prescott Valley | $119,900 | $114,000 | 95.1% | 1,162 | $98 | 96 |
| 11510 St Mathews Mo | Prescott Valley | $280,500 | $275,000 | 98.0% | 2,739 | $100 | 91 |
| 679 Tawa Court | Prescott | $156,900 | $150,000 | 95.6% | 1,483 | $101 | 158 |
| 850 Summer Field | Prescott | $261,350 | $259,000 | 99.1% | 2,479 | $104 | 34 |
| 7866 Brambleberry | Prescott Valley | $184,500 | $184,500 | 100.0% | 1,757 | $105 | 72 |
| 1724 Willow Creek | Prescott | $156,900 | $152,000 | 96.9% | 1,362 | $112 | 68 |
| 3169 Rainbow Ridge | Prescott | $750,000 | $700,000 | 93.3% | 5,450 | $128 | 348 |
| 1576 Winners Circl | Prescott | $595,000 | $400,000 | 67.2% | 2,569 | $156 | 525 |
| 2305 Bridle Path D | Prescott | $989,900 | $850,000 | 85.9% | 4,900 | $173 | 70 |
| 4881 Black Stallio | Prescott | $397,500 | $425,500 | 107.0% | 2,257 | $189 | 117 |
| Number of Homes: | 19 | ||||||
| Average | $254,787 | $234,168 | 95.4% | 2,066 | $98 | 115 | |
| Median | $154,900 | $152,000 | 95.6% | 1,893 | $98 | 72 | |
| MLS Data as of: | 5/18/2009 | *Source: PAAR MLS | |||||
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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