What’s Happening In The Real Estate Market? Month To Month Comparison

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What’s going to happen in the next few months in the Prescott Valley and Prescott real estate market? These are unprecedented times – at this point, we simply do not know. Anyone who claims to have an accurate answer to that question must have a crystal ball, or some other trick up his/her sleeve. But, here’s what we do know thus far:

– Our phones are still ringing! Buyers and Sellers are remaining optimistic, and real estate transactions are continuing to take place.
– Transactions may take a bit longer than usual to close. Due to adherence to strict virus guidelines, it may take a bit longer to complete the escrow process. Out of respect for all professionals involved – agents, the title company, lenders, inspectors, etc. – we are now recommending 45-day escrow periods instead of the typical 30-day period. (Cash transactions may still be able to close in 30 days).
– Patience and compassion are necessary during this trying stretch. In the last week, we’ve had both Buyers and Sellers want to take a step back from transactions underway. This approach is absolutely understandable. We will all get through this together.
– Take a look at the comparison numbers below – so far, so good.

Single Family Homes

Month to Month Market Report

Month to Month Market Report

Questions? Please ask in the comments below, and we’ll do our best to find the answers! ~ Gwen and Elena, LUXE Real Estate Group – Luxury Prescott

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