Pam's Prescott Blog

The Prescott market continues to show resilience during this awful recession. 

Why?  It is a destination location.  That means that no matter what the economy, a steady portion of the 10,000 Baby Boomers who retire every day decide to make Prescott their home.  They come for near perfect weather, 300 days of sunshine a year, a beautiful setting, friendly people and a fabulous quality of life.

But what is the local market up to?  Here are the latest stats:

Total residential listings for the area fell in 2009 from 6024 in 2008, to 5309 for all of last year.  That's good news for sellers.  The supply decreased.

Sales are up! Total sales for the 4th quarter of 2009 were 680, which was up quite a bit from the 452 sales in the 4th quarter of 2008.  Again, supply is down.  Great news for all of us!

Prices were down from an average of $259,098 in 2008, to $204,213 in 2009.  Good news for buyers. 

But here is an interesting stat: prices for January of 2010 were up 3.67% over the previous month.  I am not sure if that is a trend that will continue, but it points perhaps to something we're seeing on our team, which is that homes in the higher price ranges are starting to sell again as people with more money to spend decide to get into the market.

Don't forget that the tax credit has been extended through April to almost anyone buying a home.  Contact me today at 928-899-2472 to find out if you might qualify and how I can help you find the Prescott area home of your dreams right now!