Prescott Real Estate Market Trends – Arizona

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Prescott Real Estate Market Conditions and Trends

Homes for Sale > Real Estate Market > Arizona Real Estate Market > Prescott Real Estate Market

Winter 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Prescott. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 928-776-7701
Average Home Price	$275,000 - View Graph Trend

Average Price Compared to Last Year	Down 5-10%

Average Time on Market	More than 120 days

Best Selling Price Range	$200,000 - $249,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	No Change

Buyers’ or Sellers’ Market	Equal buyers and sellers

Buyer Activity for the past 90 days in Prescott is	Increasing

Seller Activity for the past 90 days in Prescott is?	No Change

Multiple Offers?	No

Multiple Offers Commentary	Bank owned and Short Sale Seller’s can expect multiple offers due to their aggressive pricing.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	15-20%

Is Financing Available For Qualified Buyers?	Yes

Housing Inventory	Limited Supply

Inventory Comments	Inventory is more under control at present time. The problem is the inventory is rather limited in that most Seller’s with equity do not want to sell do to current values. Buyer’s are left picking through the distress sales and the Seller’s that must sell.

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Lower prices with good selection and competitive interest rates creates a perfect time to buy in Prescott! Mild climates and 4 Seasons make it a wonderful place to call home.

Nearest Metro Area	Prescott

Housing Hot Spots	Most cities within the Yavapai County area are considered ’Housing Hotspots’

Average Sold Price	$275,000 - View Graph Trend

Prescott Local News

News for Prescott, AZ - April 7th, 2011 12:19pm
How is 2011 starting out in Prescott compared to the what we had for the beginning of 2010?? Are our values up or down, is sales volume higher or lower? Well, so far according to our MLS we have had 73 MORE sales this year compared to last year. The average price for these transactions however is considerably less (about $25,612) or 8% less than 2010. With lower prices, great rates and lets not forget one of the best places in America to live, its a great time to buy!

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Mortgage Rates

– Feb 23rd, 2012 –
---------------------------------

30 yr. fixed rate: 3.90%
15 yr. fixed rate: 3.17%
30 yr. jumbo rate: 4.68%
15 yr. jumbo rate: 3.96%

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Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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RE/MAX Mountain Properties

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)

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