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Fall is here and our real estate market continues to amaze.

September was yet another month with incredibly positive statistics in the Prescott area.

The average sale price of $396,650 was an improvement of just over 14% on the same month last year, indicating the excellent returns that sellers are enjoying in the very strong market conditions.

At the same time, the 490 homes sold in the month represented a 30% improvement on September 2019, reflecting continued extremely high buyer demand that's extending into the fall.

Low inventory of available homes in the area has been a consistent theme for years and it's notable that there are currently only just over two months of supply in the market, over 42% down compared with the same period in 2019. This creates fantastic opportunities for sellers in the final quarter of 2020, with reduced competition and more robust asking prices and continuing strong buyer sentiment, while mortgage rates hover around record low levels.

Please don't hesitate to contact us at 928-445-2100 if you'd like to discuss current market trends in more detail.