Prescott, AZ – Real Estate Market Data – December 2012
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December Property sales were 119, up 11.2% from 107 in December of 2011 and 15.0% lower than the 140 sales last month. December 2012 sales were at their highest level compared to December of 2011 and 2010. December YTD sales of 1,534 are running 10.9% ahead of last year’s year-to-date sales of 1,383.
The Median Sales Price in December was $240,000, up 35.6% from $177,000 in December of 2011 and up 11.6% from $215,000 last month. The Average Sales Price in December was $271,711, up 20.2% from $226,135 in December of 2011 and up 13.9% from $238,620 last month. December 2012 ASP was at the highest level compared to December of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 721, down 12.0% from 819 last month and down 25.3% from 965 in December of last year. December 2012 Inventory was at its lowest level compared with December of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2012 MSI of 6.1 months was at its lowest level compared with December of 2011 and 2010.
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 145, up 11.5% from 130 days last month and down 13.2% from 167 days in December of last year. The December 2012 DOM was at its lowest level compared with December of 2011 and 2010.
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Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.