January 2019 Prescott Area Market Review

Dated: February 6 2019

Views: 406

January 2019 Market Review

The number of new listings saw a large increase in January over December, but the number of sold homes was down. The average sold price for the Tri-City area held steady with just a small decline of less than $100 since December. The Tri-City area currently has just over 4 months worth of inventory combined vs just under 4 months of inventory levels in December.

The Prescott Valley area saw an average list price to sales price percentage of 109%, meaning homes sold for more than asking price in some cases. This also drove the average rate up for the combined Tri-City area to 101%. Prescott and Chino maintained a 97%-98% list price to sales price ratio.              

While Prescott and Prescott Valley both saw an increase in average sales prices the Chino Valley area had a decrease in the average sold price. Chino Valley average sales price dropped significantly over prior months. It will be interesting to see how they fair in the month ahead.

Miss our 2018 Year in Review? Check out our blog post.

Get our monthly reports deliverd, just click the Subscribe button.

Blog author image


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....

Latest Blog Posts

5 Factors that Reveal Where the Real Estate Market is Really Headed

 It’s the old supply-and-demand predicament: Home sales in the U.S. continue at a torrid pace, but the availability of listings remains limited. Buoyed by historically low mortgage rates,

Read More

How to Bridge the Appraisal Gap in Today’s Real Estate Market

  If you’re searching for drama, don’t limit yourself to Netflix. Instead, tune in to the real estate market, where the competition among buyers has never been fiercer. And

Read More

Could Rising Home Prices Impact Your Net Worth?

 Learn how to determine your current net worth and how an investment in real estate can help improve your bottom line. Among its many impacts, COVID-19 has had a pronounced effect on the

Read More

Historical Look at Prescott Home Sales

Just a few days ago I had a conversation that started me thinking.Uh oh, that means people are going to get statistics and graphics. Sorry for those who find statistics boring, but yes I geeked out

Read More