| RE/MAX Mountain Properties | Joe Karcie RE/MAX Mountain Properties Prescott, AZ info@joekarcie.com |  |
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Spring 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
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| Average Home Price | $400,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | 90-120 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? | No Change |
| Market Trend | No Change |
| Buyers’ or Sellers’ Market | More buyers than 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? | Yes |
| Multiple Offers Commentary | Bank owned and Short Sale Seller’s can expect multiple offers due to their aggressive pricing. Also, properties under $250,000 that are priced agressively can see multiple offers as well. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Limited Supply |
| Inventory Comments | Inventory is more under control at present time, even a bit low. The problem is the inventory is rather limited in that most Seller’s with equity do not want to sell with 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 | $400,000 - View Graph Trend |
Prescott Local News
News for Prescott, AZ - May 16th, 2012 11:25am
Well so far 2012 has been a strong year indicating that the worst is behind us.. The only reason I can see that would allow us to have a strong market is the fact that inventory levels are low. Banks are not flooding the markets with their inventory which has allowed the over supply to drop below normal ranges. Keep an eye on what banks intend on doing in the future as if there is another flooding of inventory into our market then I would not be surprised to see another dip in values down the road
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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Joe Karcie
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Joe Karcie
RE/MAX Mountain Properties
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