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We saw yet more stunning market conditions for Prescott area sellers as 2020 concluded.

There were positive statistics from a selling perspective right across the board.

The number of homes sold during the month was significantly up on the previous December in Prescott (+23.7%), Prescott Valley (+43.1%) and Chino Valley, which experienced a 60% year-on-year improvement. So much for the holidays being a quiet time to sell...

Average sales price also showed impressive double digit increases compared with the same period last year. There were also dramatic falls in the average number of days a home was on the market before it sold.

Given such high demand, it was not altogether surprising to see inventory of available homes for sale in the three main areas to also fall by very significant numbers. Supply levels are now very, very low, with less than a month of inventory in Prescott Valley.

This scenario creates wonderful opportunities for early year sellers, as mortgage rates continue to hover around historic lows (they are roughly a full point lower than this time last year...).

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