Prescott's overall sales rose by 4.0% in June 2023 compared to the previous month. The real estate market is also showing signs of improvement, with a smaller decrease of 4.8% in home sales in June, compared to a larger 13.9% decrease in May. It is worth noting that the total number of homes sold increased significantly from 346 in May to 375 in June.

There has been a significant surge in months of inventory in the Quad Cities and neighboring regions, with a whopping 23.1% increase as compared to the previous year. The inventory has gone up from 2.6 months in June 2022 to 3.6 months during the same period this year.

It's great to see that the housing market is doing well, with an average of three offers per listing! This is despite the fact that pending contract signings are moving a bit slowly at the moment. A shortage of inventory is still a factor, both nationally and here at home, but we hope to see this ease as we enter the fall season.

When it comes to buying or selling a home, talk to a real estate agent who knows their stuff and can help you navigate the process. They'll be able to give you the inside scoop and help you make smart choices. Reach out to a trusted agent today!

Contact us any time with your questions at 928-830-0151.