Real Estate Market Update
October 2010
The sales volumes remain lower since the ending of the Federal Tax credit and that finally made an impact on prices as they have fallen about 8% over August and September, which nearly wipes out the appreciation we had seen this year.  We are not expecting any further drops in prices.

The number of foreclosures and pre-foreclosures remains steady, no increases are expected on that front.

Wickenburg area
Currently 80% of the listings are normal sellers, 7% of them are pre-foreclosure, and 13% lender owned.  Over the last month 33% of the sales were normal sellers, 11% were pre-foreclosure, and 55% were lender owned, .  The average sales price per square foot for normal sellers was  $107 per square foot on average. Pre-foreclosures sold at $68 per square foot, and lender owned properties sold at  $58 per square foot. There were 9 homes sold out of 153 listings

Wittmann area
Currently 49% of the listings are normal sellers, while 19% are lender owned, and 31% are pre-foreclosures.  Over the last month 100% of the properties sold were bank owned,  The average price per square foot was $68, There were 7 homes sold out of 77 listings

Surprise area
Currently 33% of the listings are normal sellers, with 18% of them lender owned, and 49% pre-foreclosure.  Over the last month 29% of the sales were lender owned, and 27% were normal sellers, and 44% of the sales were pre-foreclosures.  The average price per square foot for the lender owned properties was $60, the normal sellers sold at $84 per square foot on average, and the pre-foreclosures sold at $59 per square foot. There were 256 homes sold out of 1491 listings.

We do not have quick access to these statistics for Congress, Yarnell or Peeples Valley.