West USA Realty of Prescott: A Guide to Today's Housing Inventory

 The Current Situation: Active Inventory Shortfall

There's a particular challenge in the housing market right now that we can't overlook - the conspicuous shortage of homes available for sale versus the number of eager buyers. But just how dire is the situation?

According to a recent report from Realtor.com, "On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels." A daunting figure, isn't it?

Please note that 2020-2022 are not accounted for in this analysis. Those years represented truly abnormal conditions for the housing market and hence, for the sake of a fair comparison, are not included so as not to distort the data.

But you might be wondering - what does this mean for you, specifically? If you're considering selling your house, this dearth of inventory is the very reason why now is an opportune moment. Buyers have fewer choices than in more normal years, and this continues to affect some key housing market statistics. Can you guess what these factors might be?

To support this claim, let's look at the latest data from the National Association of Realtors' The percentage of homes sold in less than a month has slightly increased to 74%. The median days on the market dipped to 18 days, indicating that homes are selling swiftly when priced right.

• The average number of offers on recently sold homes has increased to 3.3 offers. Quite an encouraging scenario for sellers, isn't it? The Bottom Line for Sellers. When supply is so low, your house inevitably gets more attention. That's why sellers are experiencing quicker sales and receiving more offers now.

If you've been considering selling, now's the time to act. Why, you ask? Because of the current supply shortage, your property is going to be in the limelight. But of course, the first step to selling is teaming up with a reliable real estate professional.

Conclusion: Making Your Move in the Prescott Market

The Prescott market, serviced by West USA Realty of Prescott, is no exception to this trend. If you're considering selling, seize the day and start your process with a trusted real estate professional.

To learn more about the Prescott, Arizona real estate market contact Michael Eastwood CEO of West USA Realty of Prescott at 928-636-1500 or visit us at www.westusaofprescott.com  and Michael will introduce you to one of his professional real estate agents.(Each office is Independently owned and operated) #RealEstateTips #PrescottAZ #HashtagPower #BoostYourPosts #ViralContent #RealEstateSuccess #RealEstateReel #PrescottAZ #HashtagHacks #InstagramGrowth #ViralVisibility #FollowMe #PrescottRealEstate #ArizonaHomes #PrescottAZ #RealEstateForSale