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,
January 2019 Prescott Area Market Review
Dated: February 6 2019
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.
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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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