Prescott Real Estate- Market Update, Wednesday January 28th
January 28th, 2009 categories: Home Buyers, Home Sellers, Market Update, Prescott Market Statistics
Hello, and welcome to the weekly Real Estate market update for the City of Prescott. The residential properties I’m including are single family homes, town-homes, condos and manufactured housing.
Absorption rates are a calculation of how long it will take for all the homes on the market to be sold, or absorbed at the current rate of sales.
| Price Range | Residential Properties On The Market | Home Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 315 | 19 | 16.5 Months |
| $300,001 to $500,000 | 363 | 15 | 24.2 Months |
| $500,001 to $800,000 | 211 | 2 | 105 Months |
| $800,001 to $100,000,000 | 65 | 1 | 65 Months |
| $100,000,001 and above | 71 | 0 | 71 Months |
| Totals | 1,025 | 37 | 27 Months |
Prescott Real Estate- Year to Date Sales Information
| Property Type | Listings For Sale |
Pending Sales | Closed Sales Year To Date |
|---|---|---|---|
|
Single family Residential |
891 | 93 | 22 |
| Vacant Land |
1,295 | 5 | 5 |
| Condos & Town Homes & Patio Homes |
130 | 17 | 4 |
| Multi Family Properties |
23 | 1 | 0 |
| Commercial Properties |
197 | 0 | 1 |
| Business Opportunities |
11 | 0 | 0 |
Single family homes priced under $300,000 continue to dominate what is selling in Prescott. Vacant land and commercial properties are still sitting in the back seat.
The information provided is courtesy of the Prescott Area Association of Realtor MLS. This information is deemed reliable but not guaranteed.
If you would like more information on the Prescott Real Estate market, please contact us at 928.778.4492 or e-mail us at info@thehuffmangroup.com
