Prescott Real Estate Data!

To all of you real estate information junkies out there, we wanted to end the year by doing a summary of 2008, taking a close look at each of the 4 local markets individually, but also the area as a whole. The chart to the left, which you can download by clicking on image, is a special version of our "inventory charts", which we publish monthly. In this case, we put together a 3 year summary graph, which has the total number of area site-built homes (blue), under the total number of sales (red) for each of the last 36 months. As you can see, our graph ends in October 2008, as our November and December inventory charts will be published soon.

Taking a close look at this graph, you will note that historically, our inventory balloons in the summer months, and tapers off through the winter. However, in 2005, Inventory shot straight up, not taking a breather until late in 2006. This was due to many people trying to jump on the "cash out" bandwagon a little too late, as our local market price point peaked right around Christmas 2005. As a result, inventories, or our supply of homes, has mushroomed for the last 3 years, but if you watched our webcast (viewable at www.LFTperspective.com on the sidebar, or by visiting our youtube channel at http://www.youtube.com/acalong77), you know that stastical indicators suggest a cap to inventories fast approaching.  What is to come in 2009?  We will break it down over the next week, so be sure to check back daily.  We will also be posting new inventory charts in the days to come.  Until then, Happy New Year!