The Precott Az area condo market finally got going again in March after having had ZERO closings in February, which was an anomoly. Two of the five closings were bank-owned, or REOs, and they were the driving factors behind the average $ per square foot at $118.
| Prescott Area Condos, Townhomes, Patio Homes Closed - March 2009 | |||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT | CDOM |
| 1970 Lazy Meadow L | Prescott | $409,000 | $395,000 | 96.6% | 3,398 | $116 | 273 |
| 1716 Alpine Meado | Prescott | $272,500 | $207,500 | 76.1% | 1,811 | $115 | 240 |
| 1216 Timber Point | Prescott | $245,000 | $232,000 | 94.7% | 1,882 | $123 | 210 |
| 3350 Iris Lane | Prescott | $207,000 | $197,000 | 95.2% | 1,188 | $166 | 213 |
| 12693 Tierra Aspera | Dewey -Humboldt | $145,000 | $137,000 | 94.5% | 1,893 | $72 | 176 |
| Number of Homes: | 5 | ||||||
| Average | $255,700 | $233,700 | 91.4% | 2,034 | $118 | 222 | |
| Median | $245,000 | $207,500 | 94.7% | 1,882 | $116 | 213 | |
| MLS Data as of: | 4/8/2009 | *Source: PAAR MLS |
The one unit at 1716 Alpine Meadows in Hassayampa sold for $207,500, just below it's 2/1/2003 sales price of $230,503. So in this case, prices were down to 2002 levels. Wells Fargo took a bit of a bath here, but I'm sure they learned something in the process. ;) If you are waiting on the sidelines to buy a property in the Prescott, Prescott Valley, Chino Valley, or Dewey-Humboldt market area, consider a foreclosured or REO property. I can make the process as painless as possible.
See this post before you get going: Top 10 tips to win the REO multiple offer game
If the chart above is garbled you can see the orginal post here:
40% of condos sold in March 2009 in Prescott area were REOs
Prescott, AZ, REALTOR focused on the foreclosure markets in Prescott, Prescott Valley, Chino Valley, and Dewey-Humboldt in Northern Arizona.
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