March 19th, 2010
Prescott RE Market update as of Feb ‘10
Comments by Ed Pattermann, Owner/Broker Windermere Real Estate Arizona:
In answer to the question: “so how’s the Prescott real estate market going?”
Well, last month units sold were up 48% over the same month in 2009 – that’s 7 straight months of year to year growth
Gross sales and median prices were down, but that’s expected with the buyers market we are in, and the number of foreclosures and short sales (i.e. motivated sellers).
Good news is that whereas last year at this time we had 27 months of inventory, we are now down to 15. And that should get better as we get into the more active spring and summer months.
As long as we can continue to reduce our inventory, we are on the path to a more stable real estate market.
Ed Pattermann
Owner and Designated Broker
Windermere Real Estate Northern Arizona
Prescott, Arizona
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