Prescott area REO and short sale homes sold 5-1-09 thru 5-15-09

Activity in the distressed home market in the Prescott AZ area remains moderate with 18 homes closing in the first 15 days of May. This compares to 42 homes sold by traditional resales during the same period.

The average price per square foot for REO and short sales was $98 and the average time to sell was 115 days compared to $138 per square foot and 239 days on market for tradional resales. You can see that the REO and short sales market in Prescott and Prescott Valley continues to move quicker and at a much lower average price.

Short sales about 20% of sales: of the 19 homes sold, 4 were short sales (highlighted in yellow).

Over 1/4 of the homes sold for more than asking price (see green highlight), sold fairly quickly, and got multiple offers to get there. This tells me that multiple buyers are getting in the game. Before you enter the fray, please read: Top 10 tips to win the REO multiple offer game.

See chart here.

For more information on any of these listings, please contact me.

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Related Posts:

• 40% of condos sold in March 2009 in Prescott area were REOs
• Prescott area foreclosed/REO homes sold in last 15 days > 03-11-09
• Prescott area REO and short sale homes sold in last 15 days > 03-26-09
• Prescott area REO and short sale homes sold 4-15-09 to 4-30-09
• Prescott area REO and short sale homes sold 4-1-09 - 4-15-09