Prescott Arizona Area Real Estate and Foreclosures Market Report

Prescott Area Foreclosure/Short Sale Activity As of 03-07-09
Business is brisk

The distressed real estate market in the Prescott area was busy on the listing side this week with 25 new homes coming on the market, about one in every four homes being listed in the Prescott Arizona Area MLS system.

From the sales side they represented about a quarter of the homes sold and were about one third of the sales that went into escrow.

The difference between what traditional pricing and Prescott foreclosed/REO and short sale properties per square foot remains with strong at a 23% discount.

This week the average price sold per square foot hit a new low at $76 due to a screaming deal on a home in Lynx Lakes Estates in Prescott Valley that someone got for $53/sqft on a 1/2 acre for $68,500!.

Thinking about buying a distressed property in the Prescott Foreclosure or Prescott Valley Foreclosure market?

See this article on my blog to get prepared: Prescott Area Foreclosure/REO/bank-owned or short sale?

Foreclosed and short sale homes new on market in last 7 days*

MLS Address City List Price SQFT $/SQFT

935866 12829 Main St Mayer $36,000       781 $46

935753 185 Cactus Wren Chino Valley $80,000     1,456 $55

935813 1900 Colors Of The Win Dewey -Humboldt $109,900     1,800 $61

935734 8365 Walden Blvd Kirkland $90,500     1,296 $70

935789 5383 Robert Rd Prescott Valley $95,000     1,208 $79

935772 3415 Etheridge Prescott Valley $127,500     1,591 $80

935854 200 Gina Marie Paulden $182,500     2,176 $84

935779 2450 Big Oak Circle Prescott $290,000     3,216 $90

935774 8680 Manley Drive Prescott Valley $125,460     1,283 $98

935850 12757 Garcia St. Dewey -Humboldt $198,000     1,969 $101

935846 418 La Paz Street Dewey -Humboldt $199,000     1,977 $101

935820 7847 Las Palmas Prescott Valley $146,900     1,458 $101

935851 7866 Brambleberry Prescott Valley $184,500     1,757 $105

935788 5929 Talbot Prescott Valley $133,900     1,223 $109

935837 415 Allerton Way Chino Valley $205,000     1,828 $112

935855 9679 Cinnabar Cr Prescott Valley $189,000     1,637 $115

935787 1475 Taft Ave Chino Valley $195,800     1,661 $118

935888 7746 Bravo Ln Prescott Valley $179,900     1,519 $118

935807 4961 Living Rock Ct Prescott $219,900     1,792 $123

935769 4557 Canyon Trail Cottonwood $125,500       912 $138

935844 4557 Canyon Trail Cottonwood $125,500       912 $138

935767 2105 Tranquil Trail Prescott $530,000     3,836 $138

935883 9250 Dutchman'S Cove Prescott Valley $330,000     2,363 $140

935740 5405 Haystack Rd Chino Valley $659,900     3,854 $171

935826 403 Isabelle Prescott $399,000     2,237 $178

# of Homes Listed: 25

   Average $206,346    1,830 $107

   Median $182,500    1,661 $105

MLS Date: 3/7/2009 *Source: Prescott Arizona Area MLS (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 the Prescott MLS section.

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New Listing Stats Last 7 Days*

REO/Short Sale Traditional

New 25 68 27%

List $/sqft $107 $136 21%

Pending 8 14 36%

Closed 3 10 23%

Sold $/sqft $76 $99 23%

*Source: Prescott Arizona Area MLS (PAAR)

New REO/Short Sales listings are 21% less per square foot than traditional resales this week.

The percentage of foreclosed/REO/short sale new listings on market went up a little from 20% to 27% this week. Last week 53% of the pending sales were REO or Short Sales, and this week they were made of 36% of the deals going into escrow. The amount of REO/Short Sales that closed last week went from 52% last week to 23% this week.

Featured Listing: BANK OWNED/REO