The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally
November 2018 Prescott Area Market Review
Dated: December 5 2018
For the 16th straight month the Tri-City area has less than 4 months worth of residential homes available for sale. Industry standard tells us that anything under 6 months of inventory is considered a “sellers market”, meaning there is higher demand than there is supply. November saw the lowest number of new listings since December of last year. Seasonality is in play with fewer homes coming on the market during the holidays. However, buyers are still house hunting during the holidays.
Chino Valley and Prescott both experienced longer days on market in November, both saw an increase of about 30 days on average. Prescott Valley held steady with an overall average of just 40 days on market. Buyer demand has not slowed in Prescott Valley based on the number of days for a home to sell.
Prescott Valley’s average sale price saw a slight increase in November over October while both Prescott and Chino Valley experienced a slight dip in their average sold prices.
Watch the video to learn more about our market in November.
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Jodi King was born and raised in Prescott AZ. As a hometown local she looks forward to showing off her favorite town to those who are new to the area. Our area offers plenty of outdoor recreation on t....
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