Prescott Arizona area foreclosure market report as of 5-02-09
Prescott Area Market Report
Twelve new foreclosed or short sale homes came on the market last week, about one in every 10 homes being listed in the Prescott Arizona Area MLS system, and one third of the closings were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt and the outlying areas of Yavapai County. Foreclosure activity was up again on the pending and sales side, but went down as a percentage of new listings.
The difference between what newly listed traditional homes and Prescott foreclosed/REO and short sale properties per square foot remains large at a 42% discount.
A bit of an anomaly this week is the fact that distressed homes took 5% longer than traditional sales. This is great news! We’ll see what happens next week.
Want to see what the latest sales figures are? See: Prescott area REO and short sale homes sold 4-15-09 to 4-30-09
| Foreclosed and short sale homes new on market | |||||
| MLS | Address | City | List Price | SQFT | $/SQFT |
| 937255 | 5035 Robert Road | Prescott Valley | $79,500 | 1,431 | $56 |
| 937416 | 413 Galloway Dr. | Chino Valley | $150,000 | 1,838 | $82 |
| 937310 | 12923 Madrid | Prescott Valley | $132,900 | 1,484 | $90 |
| 937365 | 3501 Etheridge Dr | Prescott Valley | $136,900 | 1,423 | $96 |
| 937367 | 925 Madizell Drive | Prescott | $319,900 | 3,281 | $98 |
| 937340 | 7816 Las Palmas Dr | Prescott Valley | $169,900 | 1,668 | $102 |
| 937422 | 4561 Sheridan Ln | Prescott Valley | $218,000 | 2,032 | $107 |
| 937307 | 8601 Ramble Way | Prescott Valley | $139,900 | 1,301 | $108 |
| 937425 | 7244 Burro Lane | Prescott Valley | $133,900 | 1,200 | $112 |
| 937412 | 1495 Roadrunner | Prescott | $419,000 | 3,696 | $113 |
| 937355 | 433 Joseph Street | Prescott | $240,500 | 1,754 | $137 |
| 937347 | 2142 Glenshandra | Prescott | $380,000 | 2,139 | $178 |
| # of Homes Listed: | 12 | ||||
| Average | $210,033 | 1,937 | $106 | ||
| Median | $159,950 | 1,711 | $105 | ||
| MLS Date: | 5/4/2009 | *Source: (PAAR) 110-670 | |||
To get more information about any of these listings or any others in Prescott, Prescott Valley, Chino Valley or Dewey-Humboldt areas, feel free to contact me, or you can search by MLS number, address, or lots of other ways in our Search Prescott MLS section.
| Weekly Activity Stats | ||||
| REO/Short Sale Traditional | ||||
| New | 12 | 104 | 10% | of listings |
| List $/sqft | $106 | $148 | 42% | less |
| Pending | 15 | 21 | 42% | of listings |
| Closed | 10 | 18 | 36% | of sales |
| Sold $/sqft | $83 | $117 | 29% | less |
| DOM | 134 | 127 | -5% | longer |
| *Source: (PAAR) | ||||
The percentage of foreclosed/REO/short sale new listings on market decreased from 14% to 10% this week. Last week 64% of the pending sales were REO or short sales, and this week they made up 42% of the deals going into escrow. The percentage of REO/short sales that closed last week went from 19% to 36% this week. REO/short sales sold about 5% slower than traditional resales.
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