Twelve new foreclosed or short sale homes came on the market last week, about one in every 10 homes being listed in the Prescott Arizona Area MLS system, and one third of the closings were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt and the outlying areas of Yavapai County. Foreclosure activity was up again on the pending and sales side, but went down as a percentage of new listings.
The difference between what newly listed traditional homes and Prescott foreclosed/REO and short sale properties per square foot remains large at a 42% discount.
A bit of an anomaly this week is the fact that distressed homes took 5% longer than traditional sales. This is great news! We'll see what happens next week.
Want to see what the latest sales figures are? See: Prescott area REO and short sale homes sold 4-15-09 to 4-30-09
The percentage of foreclosed/REO/short sale new listings on market decreased from 14% to 10% this week. Last week 64% of the pending sales were REO or short sales, and this week they made up 42% of the deals going into escrow. The percentage of REO/short sales that closed last week went from 19% to 36% this week. REO/short sales sold about 5% slower than traditional resales.
You can get this report sent to you via email. Sign up here.
Comments(2)