This is a small market update but we think it could be very powerful in what seems to be happening.

Snap-Shot

April 2008 had 19 closings with a median sales price of $225,000.00

April 2009 had 35 closings with a median sales price of $175,000.00

January-April 2008 had a total of 76 closing with a median sales price of $227,500.00

January-April 2009 had a total of 88 closing with a median sales price of $175,000.00

As you can see we are selling more homes but for approx. 23% less value. The silver lining in all this is that there are currently 85 homes in the Cottonwood-Clarkdale-Verde Village-Cornville area under contract. That is a great sign that we are starting a small form of recovery. It must start in the low $100's first, but the other markets will follow, we just are not sure how long it will take.

Let us know what you think,