Prescott area REO and short sale homes sold 6-15-09 thru 6-30-09
Prescott Area Market Report
Sales volume in the distressed home market in the Prescott AZ area remained strong with 33 homes closing in the last 15 days of June. This compares to 77 homes sold by traditional resales during the same period, about 30% of overall sales.
The average price per square foot for REO and short sales was $86 and the average time to sell was 117 days compared to $117 per square foot and 159 days on market for traditional resales. That means that distressed homes are selling at about 25% off!
Short sales about 20% of sales: of the 33 homes sold, 7 were short sales (highlighted in yellow). Short sales are starting to make up a larger percentage of the distressed home sales in the Prescott area.
Are you going to make an offer on a short sale?
Read this first: 10 questions for Prescott AZ short sale brokers
Over 45% of the homes sold at or more than asking price (see green highlight). Last week we were at 47%. 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 was only 2.8% off. The discount on tradtional sales was an average 6.5% off of the list price.
| Single Family REO-Foreclosed-Short Sales Closed 6/16/2009 – 6/30/2009 | |||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT | CDOM |
| 315 Aspen Road | Paulden | $10,600 | $10,600 | 100.0% | 793 | $13 | 22 |
| 74 Friendship Roa | Ashfork | $45,000 | $45,000 | 100.0% | 1,248 | $36 | 78 |
| 20041 Saguaro Dr. | Cordes Lake | $84,900 | $84,500 | 99.5% | 2,200 | $38 | 96 |
| 24400 Bourbon Alley | Paulden | $48,900 | $48,900 | 100.0% | 1,188 | $41 | 189 |
| 2875 Azurite Street | Dewey -Humboldt | $320,000 | $310,000 | 96.9% | 6,842 | $45 | 162 |
| 12829 Main St | Mayer | $36,000 | $36,000 | 100.0% | 781 | $46 | 109 |
| 361 Lobo Ln | Chino Valley | $74,900 | $75,900 | 101.3% | 1,312 | $58 | 62 |
| 1256 Nancy Dr. | Prescott | $189,900 | $189,900 | 100.0% | 2,650 | $72 | 13 |
| 12816 De La Cruz | Prescott Valley | $199,900 | $200,000 | 100.1% | 2,777 | $72 | 82 |
| 20021 Mingus Dr | Mayer | $133,500 | $132,500 | 99.3% | 1,800 | $74 | 123 |
| 13110 Ponce St | Dewey -Humboldt | $150,480 | $155,480 | 103.3% | 2,019 | $77 | 35 |
| 3235 Heart Prairie | Chino Valley | $209,900 | $190,000 | 90.5% | 2,420 | $79 | 100 |
| 10908 Old Black Cany | Dewey -Humboldt | $195,000 | $191,500 | 98.2% | 2,419 | $79 | 161 |
| 4820 Sauter Dr. | Prescott Valley | $109,900 | $115,300 | 104.9% | 1,420 | $81 | 417 |
| 12757 Garcia St. | Dewey -Humboldt | $189,000 | $168,000 | 88.9% | 1,969 | $85 | 105 |
| 12776 Garcia St | Dewey -Humboldt | $161,500 | $161,701 | 100.1% | 1,893 | $85 | 63 |
| 1530 Perdita Rd | Dewey -Humboldt | $215,000 | $195,213 | 90.8% | 2,257 | $86 | 183 |
| 1139 Boulder Park A | Prescott | $179,900 | $168,000 | 93.4% | 1,875 | $90 | 162 |
| 12923 Madrid | Prescott Valley | $132,900 | $133,900 | 100.8% | 1,484 | $90 | 58 |
| 8037 Sage Vista | Prescott Valley | $200,000 | $200,000 | 100.0% | 2,035 | $98 | 160 |
| 3732 Dale Dr. | Prescott Valley | $135,000 | $135,000 | 100.0% | 1,354 | $100 | 272 |
| 1934 Pinnacle Lane | Prescott | $299,000 | $270,000 | 90.3% | 2,656 | $102 | 85 |
| 1181 Marapai Rd | Prescott | $123,500 | $130,000 | 105.3% | 1,263 | $103 | 35 |
| 7685 Nightingale St | Prescott Valley | $194,900 | $182,000 | 93.4% | 1,765 | $103 | 99 |
| 7711 Pretty Penny P | Prescott Valley | $254,900 | $200,000 | 78.5% | 1,929 | $104 | 211 |
| 4567 Reston Place | Prescott Valley | $227,000 | $201,000 | 88.5% | 1,938 | $104 | 55 |
| 5709 Bronco | Prescott Valley | $185,000 | $175,000 | 94.6% | 1,676 | $104 | 88 |
| 7746 Bravo Ln | Prescott Valley | $169,900 | $167,000 | 98.3% | 1,519 | $110 | 117 |
| 10044 Buck Haven Cir | Dewey -Humboldt | $275,000 | $275,000 | 100.0% | 2,425 | $113 | 80 |
| 8600 Howling Lane | Prescott Valley | $249,900 | $242,500 | 97.0% | 2,098 | $116 | 64 |
| 5874 Nightshade | Prescott | $266,000 | $266,000 | 100.0% | 1,939 | $137 | 172 |
| 1289 Mcdonald Drive | Prescott | $540,000 | $525,000 | 97.2% | 3,550 | $148 | 104 |
| 11255 Waylands | Prescott | $454,900 | $435,000 | 95.6% | 2,821 | $154 | 95 |
| Number of Homes: | 33 | ||||||
| Average | $189,763 | $182,300 | 97.2% | 2,070 | $86 | 117 | |
| Median | $189,000 | $175,000 | 99.5% | 1,938 | $86 | 99 | |
| MLS Data as of: | 7/3/2009 | *Source: PAAR MLS | |||||
Considering making an offer in today’s distressed home marketplace in Prescott, Prescott Valley, Chino Valley or Dewey-Humboldt? See: Top 10 tips to win the REO multiple offer game.
For more information on any of these listings, please contact me.
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