Is Prescott, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prescott is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Prescott was a Seller's Market.

Key Takeaway

Prescott is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Prescott, AZ

How much do homes in Prescott, AZ cost?

Median Sold Price

$631,466

$322/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$1,666(-0.3%)

Key Takeaway

The sold price of homes in Prescott has remained the same since last year.

Summary: The median home sold price in Prescott was $631,466 in September 2024, down 0.3% from last year, and the median price per square foot was $322.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $265K$297.7K
+12.4%
2 $460.5K$440K
-4.5%
3 $695K$649.4K
-6.6%
4 $778K$860K
+10.5%
5+ $924.5K$999K
+8.1%

Summary: Prescott housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 8.1%.

Median Sold Price Compared To Nearby Cities

Prescott Valley
+5.5%
Prescott
-0.3%
Mingus Mountain
-3.6%

Housing Supply in Prescott, AZ

How many homes are available in Prescott, AZ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
233246+5.6%

Summary: The Prescott real estate market had 246 homes for sale in September 2024, a 5.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 33
0.0%
2 4343
0.0%
3 125131
+4.8%
4 4652
+13.0%
5+ 1617
+6.3%

Summary: The Prescott housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 6.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3239+21.9%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Prescott, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Prescott in September 2024, up by 21.9% month-over-month. Of the 39 sold homes, 67% were sold under asking, 28% were sold at asking, and 5% were sold over asking.

Days on Market for Prescott, AZ

How long does it take to sell a home in Prescott, AZ?

Average Sale Time

Sep 2023Sep 2024CHANGE
71 Days71 Days-0.3%

Summary: Homes in Prescott had an average of 71 days on market in Sep 2024, down by 0.3% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Prescott has remained consistent over time.

Summary: During September 2024, 39 homes were sold in Prescott; 26% of homes were sold within 30 days, 49% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Prescott, AZ

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