Belfiore Real Estate Consulting recently surveyed Prescott communities and found that sales have jumped in 2013 from the $200,000 to the $350,000 price range. Higher prices and larger lots are still lagging behind historical sales, but that trend won’t last long. An oversupply of half acre to three acre parcels exists presently and are trading as much as 80% below, peak prices. Jim Belfiore, President of Belfiore Real Estate Consulting, says that, “people who have been thinking of a vacation home should consider purchasing now; Prescott and other second home / retiree destinations north of Phoenix are rebounding, and upward pressure on prices will follow.”
