May saw yet another remarkable month for real estate in the Prescott area, somewhat in contradiction to more negative trends seen elsewhere.

Average sales price was up in all three regions, compared with the same period last year. More homes were sold across the area than a year ago too.

And although inventory of available homes for sale is climbing, the level of supply is still below two months in Prescott, Prescott Valley and Chino Valley.

Most homes have been selling within a couple of weeks or so of being listed and we are seeing that timeline getting extended a little. However the average days a home is on the market before selling in the Prescott area is still very, very low compared with most parts of the country.

Higher mortgage rates are clearly having some effect on the market, but so far the impact on buyer sentiment here appears to be very minimal and we are still seeing appreciable gains on returns and more sales than a year ago, when rates were far lower and the market was as good as we had ever seen to that point in time.

But it would be a mistake to think that this growth will continue indefinitely and the upswing in inventory is unlikely to slow down any time soon.

It therefore makes a bunch of sense to take advantage of this incredible market while things remain so positive. Why not call us today at 928-910-7032 for an informal discussion of the best options in your own circumstances.