First-time Buyers Make Up Record Share of Buyers: NAR
First-time homebuyers accounted for half of all home sales from July 2009 through June 2010, according to a National Association of Realtors survey of buyers and sellers. My personal experience mimics this with several buyers this year for homes in Prescott and Prescott Valley.
That's the highest share of first-time-buyer purchases in the history of the survey, which dates back to 1981. First-time buyers responding to the survey made up 47 percent of sales in 2009.
The 2010 NAR Profile of Home Buyers and Sellers, based on 8,449 responses to a survey sent to homebuyers and sellers nationwide whose transactions took place between July 2009 and June 2010, according to county records.
The vast majority of first-timers (93 percent) participating in the survey, and almost three-quarters of all buyers (71 percent) responding to the survey participated in a federal homebuyer tax credit program.
I expect this trend to continue as rents are often above comparable mortgage payments, especially in Prescott Valley, but deals can be found in Prescott as well.
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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