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.

Miss our 2018 Year in Review? Check out our blog post.

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