Prescott and Prescott Valley homeowners pricing homes too high
The Prescott and Prescott Valley real estate markets are obviously very volatile in the current economy. This fact needs to be considered when you are in the process of selling a house and setting your desired price.
Most sellers hope to get the transaction finalized at their asking price, but depending on the market, this is often not possible. The reason for this is the glut of available properties for buyers to choose from, commonly called a "buyer's market".
Sellers who understand the market know that they cannot ask for a high price given the current conditions. Those who do not understand and insist on trying for a top price end up having their house on the market for a very long time.
We are experienced and have the tools to determine market conditions in your neighborhood. Therefore, although the decision is ultimately in the your hands, it would benefit you to listen to the advice of several real estate agents when setting a selling price for your property.
Please contact Patrick Schutte at 928-710-1717 for more information about selling your home in today's buyers market in Prescott or Prescott Valley.
Prescott area single family homeowner sales last 15 days
Prescott Area Market Report
Sales activity of homeowner sales in the last 15 days was fairly modest with only 29 homes selling at an average of 173 days on market. On average sellers were receiving $123 per square foot and about 92% of their asking prices.
Compare this to 11 homes selling in the distressed homes market (REOs/Foreclosed/Short Sales) which sold in the same period at an average of only 112 days on market. Banks were getting an average of $104 per square foot and about 93% of their asking prices.
See related post on my Prescott Area Foreclosures blog: Prescott area foreclosed/REO listings sold in last 15 days.
| Single Family Homeowner Solds Last 15 Days* | ||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT |
| 15319 Indian Bend | Cordes Lake | $44,900 | $42,500 | 94.7% | 1,400 | $30 |
| 20061 Lakeside | Cordes Lake | $59,500 | $56,200 | 94.5% | 1,453 | $39 |
| 7921 Thelma Drive | Prescott Valley | $89,900 | $82,500 | 91.8% | 1,200 | $69 |
| 22655 Crest Way | Yarnell | $95,000 | $75,000 | 78.9% | 1,052 | $71 |
| 9910 Tatum | Prescott Valley | $199,500 | $155,000 | 77.7% | 2,104 | $74 |
| 9060 Papago | Prescott Valley | $211,900 | $211,000 | 99.6% | 2,560 | $82 |
| 248 Plaza | Prescott | $199,900 | $198,000 | 99.0% | 2,213 | $89 |
| 10 Bear Drive | Prescott | $129,900 | $127,000 | 97.8% | 1,283 | $99 |
| 5331 Desert Ln | Prescott Valley | $140,900 | $140,900 | 100.0% | 1,384 | $102 |
| 4750 Norman Road | Prescott Valley | $144,900 | $139,900 | 96.5% | 1,336 | $105 |
| 3145 Las Brisas | Chino Valley | $115,000 | $115,000 | 100.0% | 1,056 | $109 |
| 3376 Valley View | Prescott Valley | $224,900 | $200,000 | 88.9% | 1,800 | $111 |
| 7390 Mingus Trail | Prescott Valley | $219,900 | $195,000 | 88.7% | 1,712 | $114 |
| 1864 Bittersweet | Prescott Valley | $206,000 | $200,000 | 97.1% | 1,552 | $129 |
| 7014 Horizon Way | Prescott Valley | $269,000 | $250,000 | 92.9% | 1,932 | $129 |
| 12870 Chancella Ci | Prescott | $399,900 | $375,000 | 93.8% | 2,890 | $130 |
| 4421 Spur Lane | Prescott | $229,000 | $195,000 | 85.2% | 1,380 | $141 |
| 1836 Mulberry | Prescott Valley | $259,000 | $245,000 | 94.6% | 1,709 | $143 |
| 475 Lauren Lane | Chino Valley | $279,900 | $276,000 | 98.6% | 1,915 | $144 |
| 1202 Leslie Stree | Prescott | $239,900 | $220,000 | 91.7% | 1,495 | $147 |
| 4601 Kirkwood | Prescott Valley | $212,000 | $198,000 | 93.4% | 1,338 | $148 |
| 297 Thoroughbred | Prescott | $311,900 | $290,000 | 93.0% | 1,901 | $153 |
| 1941 Boardwalk Av | Prescott | $259,900 | $259,900 | 100.0% | 1,615 | $161 |
| 1609 Addington Dr | Prescott | $273,500 | $260,000 | 95.1% | 1,583 | $164 |
| 12153 Stagecoach R | Mayer | $799,000 | $558,300 | 69.9% | 3,354 | $166 |
| 5551 Lemonmint La | Prescott | $385,000 | $343,000 | 89.1% | 2,057 | $167 |
| 225 Washington | Prescott | $199,500 | $170,500 | 85.5% | 960 | $178 |
| 2990 La Questa | Prescott | $490,000 | $462,000 | 94.3% | 2,472 | $187 |
| 221 Alarcon St | Prescott | $300,000 | $260,000 | 86.7% | 1,319 | $197 |
| 174 Days on Market | Average | $241,021 | $217,266 | 92.0% | 1,725 | $123 |
| 172 Days on Market | Median | $219,900 | $200,000 | 93.8% | 1,583 | $129 |
| MLS Data as of: | 2/16/2009 | *Source: Prescott Arizona Area Multiple Listing Service | ||||
For more information on any of these listings including the days on market for an individual property, please contact me.
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