Prescott Arizona area foreclosure market report as of 3-21-09
Prescott Area Market Report
Is the market ready to turn around? If history repeats itself, all that has to happen is that Californians are able to sell their homes again so they can move here. If the numbers in CA recently hold, then we might have seen the bottom.
See Great news for Arizona! So Cal prices didn’t drop in Feb
The distressed real estate market in the Prescott area was busy on the listing AND closing sides this week. Twenty-seven new foreclosed or short sale homes coming on the market, about one in every three homes being listed in the Prescott Arizona Area MLS system, and one half of the closings, or 12/24, were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humbolt and the outlying areas of Yavapai County.
The difference between what newly listed traditional pricing and Prescott foreclosed/REO and short sale properties per square foot remains with strong at a 24% discount.
On the sales side, the discount between REO/bank-owned/short sale and traditional resale was 36%! You want a bargain in the Prescott area market? Now is the time.
Search our list of nationwide foreclosure listings.
| Foreclosed and short sale homes new on market in last 7 days* | |||||
| MLS | Address | City | List Price | SQFT | $/SQFT |
| 936185 | 325 Quail Rd | Paulden | $69,900 | 1,418 | $49 |
| 936189 | 16749 Cordes Circle We | Cordes Lake | $39,900 | 772 | $52 |
| 936221 | 13100 Claybank Ct | Dewey -Humboldt | $53,000 | 1,025 | $52 |
| 936153 | 780 Willow Wind Way | Paulden | $138,000 | 2,553 | $54 |
| 936258 | 2740 Kings Hwy South | Prescott Valley | $74,900 | 1,260 | $59 |
| 936215 | 17610 Bob White Road | Spring Valley | $162,900 | 2,267 | $72 |
| 936157 | 4544 Risky Rd | Prescott | $56,900 | 782 | $73 |
| 936108 | 22440 Quen Sabe Ln | Paulden | $127,500 | 1,680 | $76 |
| 936218 | 7881 Thelma | Prescott Valley | $109,900 | 1,440 | $76 |
| 936159 | 87 Reed Road | Chino Valley | $141,800 | 1,716 | $83 |
| 936177 | 2025 Road 4 North | Chino Valley | $299,900 | 3,600 | $83 |
| 936246 | 552 Magdalena St. | Dewey -Humboldt | $157,700 | 1,775 | $89 |
| 936147 | 4886 Miner | Prescott Valley | $132,600 | 1,414 | $94 |
| 936164 | 2075 Road 4 North | Chino Valley | $199,900 | 2,000 | $100 |
| 936154 | 7922 Music Mountain | Prescott Valley | $204,000 | 1,991 | $102 |
| 936261 | 1170 Trev View Trl | Paulden | $213,685 | 2,077 | $103 |
| 936170 | 3532 Catherine | Prescott Valley | $89,900 | 847 | $106 |
| 936158 | 1361 Bannon Place | Chino Valley | $209,900 | 1,965 | $107 |
| 936113 | 3124 Corrine Dr | Prescott Valley | $129,900 | 1,161 | $112 |
| 936200 | 7685 Nightingale Star | Prescott Valley | $199,900 | 1,765 | $113 |
| 936168 | 7624 Sedalia | Prescott Valley | $174,500 | 1,479 | $118 |
| 936091 | 1033 Cottonwood Sprin | Dewey -Humboldt | $194,000 | 1,600 | $121 |
| 936165 | 653 Antelope Loop | Prescott | $249,000 | 1,785 | $139 |
| 936148 | 4539 Harwick Dr | Prescott Valley | $279,900 | 2,000 | $140 |
| 936209 | 1975 Rolling Hills Ro | Paulden | $275,000 | 1,764 | $156 |
| 936166 | 1010 Studebaker | Prescott | $329,000 | 2,017 | $163 |
| 936028 | 1727 Rolling Hills | Prescott | $409,900 | 2,418 | $170 |
| # of Homes Listed: | 27 | ||||
| Average | $174,940 | 1,725 | $99 | ||
| Median | $162,900 | 1,764 | $100 | ||
| MLS Date: | 3/21/2009 | *Source: (PAAR) | |||
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.
| New Listing Stats Last 7 Days* | |||
| REO/Short Sale | Traditional | ||
| New | 27 | 66 | 29% |
| List $/sqft | $99 | $131 | 24% |
| Pending | 7 | 12 | 37% |
| Closed | 12 | 12 | 50% |
| Sold $/sqft | $88 | $138 | 36% |
| DOM | 106 | 133 | 20% |
| *Source: (PAAR) | |||
The percentage of foreclosed/REO/short sale new listings on market went up a little from 27% to 29% this week. Last week 36% of the pending sales were REO or Short Sales, and this week they were made of 39% of the deals going into escrow. The amount of REO/Short Sales that closed last week went from 23% last week to 50% this week. REO/short sales also sold about 20% faster than traditional resales.
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