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prescott arizona area foreclosures blog

Prescott Arizona area foreclosure market report as of 4-25-09

Prescott Area Market Report

Prescott Area Market Report

 Eleven new foreclosed or short sale homes came on the market, about one in every seven homes being listed in the Prescott Arizona Area MLS system, and one fifth of the closings were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt and the outlying areas of Yavapai County.  This is two weeks in a row that foreclosure activity is down. 

But we’re not out of the woods yet.  This week there were 117 Notices of Default (NOD) filed with the County Assessor…in about 104 days, we’ll see most of them come on the market as REOs. 

The difference between what newly listed traditional homes and Prescott foreclosed/REO and short sale properties per square foot remains large at a 30% discount.  

Last year Prescott had the distinction of becoming an MSA and our first report was to be listed as the 25th MSA in the nation with foreclosures as a percentage of our households according to RealtyTrac.

See: Prescott area is 25th in foreclosures nationwide for Q1 2009

    Foreclosed and short sale homes new on market
MLS Address City List Price  SQFT  $/SQFT
937210 361 Lobo Ln Chino Valley $74,900     1,312 $57
937200 9665 Catalina Prescott Valley $129,000     1,296 $100
937239 7323 Greenscape View Prescott Valley $168,500     1,610 $105
937167 7235 Lobo Way Prescott Valley $189,000     1,748 $108
937140 1765 Tamarine Chino Valley $224,900     2,044 $110
937114 5600 Roadrunner Prescott Valley $179,900     1,577 $114
937125 6800 Sunset Ct Prescott Valley $189,500     1,630 $116
937199 7464 Plateau Ridge Prescott Valley $149,900     1,269 $118
937109 8600 Howling Lane Prescott Valley $249,900     2,098 $119
937176 731 Highland Circle Chino Valley $187,900     1,536 $122
937137 15950 Appletree Lane Dewey -Humboldt $324,500     2,404 $135
  # of Homes Listed: 11      
       Average $187,991    1,684 $109
       Median $187,900    1,610 $114
MLS Date: 4/25/2009 *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 11 69 14%  of listings
List $/sqft $109 $145 43%  less
Pending 18 10 64%  of listings
Closed 4 17 19%  of sales
Sold $/sqft $92 $131 30%  less
DOM 188 206 10%  longer
  *Source:  (PAAR)  

The percentage of foreclosed/REO/short sale new listings on market decreased from 18% to 14% this week.  Last week 33% of the pending sales were REO or short sales, and this week they made up 64% of the deals going into escrow.  The percentage of REO/short sales that closed last week went from 26% to 19% this week.  REO/short sales sold about 92% faster than traditional resales.

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