Home Buying in 86301>Question Details

mbanescu, Home Buyer in Prescott Valley, AZ

is the market soft in Prescott az?

Asked by mbanescu, Prescott Valley, AZ Thu Sep 20, 2012

Help the community by answering this question:


Hello, thanks for your question.

Currently the market is not "soft". With the foreclosure arena diminishing substantially, the homes in Prescott are on solid footing. There are those who believe that they can sell for 2005 prices (which is also a false expectation) but in general... low inventory (increasing during summer) and a higher demand for quality housing with very few distressed properties to pick from, the market is more likely to be a seller's market.

I say this all "with a grain of salt". Fluctuations in the marketplace are felt in Prescott because of its size. High dollar home sales can off-set the entire market making some homes appear more valuable than they really are. The result: a rush to sell for more money. People then enter into the marketplace believing they can get lucky. It's just not going to happen.

So, as a buyer, if you're looking to buy in an over saturated market in Prescott with desperate sellers... you may have just missed out. That market started to dry up Feb of 2012 as the foreclosure market dropped below the traditional sale market percentage-wise. November 2013 was the lowest recorded month for REO properties in 5 years. August 2014 was the lowest for short-sales in 5 years.

Watch real-time stats: http://prescottarizonahouses.com/prescott-az-marketing-statistics/
10 votes Thank Flag Link Wed Jun 25, 2014
You can found another resource for you to see what is happening in the Prescott market.
if you want you can get updates every 4-8 weeks emailed to you.
Best of luck,
0 votes Thank Flag Link Fri Dec 7, 2012
The market in Prescott, AZ is doing very well. The homes are going quickly. Prices are low and interest rates are low. It's the perfect storm for Buyers. Sellers are benefitting as well.
0 votes Thank Flag Link Mon Oct 29, 2012
I getting soft, but the market is not.

seems like the market is doing quite well.
Let me know if you need help
0 votes Thank Flag Link Mon Sep 24, 2012
If you would like to stay up to date with the Market in the Prescott Area, Log onto http://www.ProsperAZ.com and click on the Market statistics page. We are actually at a very balanced market right now. This data is updated, mid month, every month for the previous month's stats. Enjoy!
Web Reference: http://www.ProsperAZ.com
0 votes Thank Flag Link Thu Sep 20, 2012
No, absolutely not. We only have 1520 homes for sale at this time, which is equal to about 6 months supply. Properties are receiving multiple offers for well priced homes under $250k. If you would like to discuss the market, please give me a call at 928-533-9031 or http://www.brianKnowsrealEstate.com
0 votes Thank Flag Link Thu Sep 20, 2012
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