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We saw yet more stunning market conditions for Prescott area sellers as 2021 commenced.

The number of homes sold during the month was up on the previous January in Prescott Valley (+4.82%) and Chino Valley (+13.82%).

Average sales price also showed good 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. Despite these conditions, the number of newly listed properties in total for 2020 was only down 10% over the volume of new listings in 2019. Demand for our area is higher than ever, so working with a professional to get your real estate buying or selling needs met is now more important than ever.

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.