Prescott Real Estate - Market Update, March 18th, 2009
March 18th, 2009 categories: Market Update, Real Estate News
Hello, and welcome to the weekly Real Estate market update for the City of Prescott.
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 | 352 | 15 | 23.4 Months |
| $300,001 to $500,000 | 338 | 11 | 30.7 Months |
| $500,001 to $800,000 | 209 | 6 | 34.8 Months |
| $800,001 to $100,000,000 | 72 | 0 | 72 Months |
| $100,000,001 and above | 73 | 0 | 72 Months |
| Totals | 1,044 | 36 | 29 Months |
Prescott Real Estate- Year to Date Sales Information
| Property Type | Listings For Sale |
Current Pending Sales |
Closed Sales Year To Date |
|---|---|---|---|
|
Single family Residential |
902 | 84 | 72 |
| Vacant Land |
1,415 | 13 | 22 |
| Condos & Town Homes & Patio Homes |
129 | 8 | 10 |
| Multi Family Properties |
23 | 0 | 2 |
| Commercial Properties |
203 | 3 | 3 |
| Business Opportunities |
10 | 0 | 0 |
Homes priced under $300,000 are leading in Prescott homes sales.
In the month of February, 50% of homes that closed escrow were bank owned properties.
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
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