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,

Have we hit the bottom?

With the exception of the national media we believe we have reached a bottom on the entry level site built homes. We are seeing multiple offers and in some cases purchasers are paying over list price. For more information, give us a call.