Is Prescott, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Prescott was a Seller's Market.
Housing Prices in Prescott, AZ
How much do homes in Prescott, AZ cost?
Median Sold Price
$649,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Prescott was $649,000 in March 2024, up 0.8% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | $210K | -26.3% |
2 Bedrooms | $418.7K | $490K | +17.0% |
3 Bedrooms | $705K | $690K | -2.1% |
4 Bedrooms | $849.5K | $778.5K | -8.4% |
5+ Bedrooms | $1.0M | $892.7K | -12.0% |
Summary: Prescott housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.3%, 2 bedroom homes increased by 17%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 12%.
Median Sold Price Compared To Nearby Cities
Prescott | $644K | $649K | +0.8% |
Mingus Mountain | $540K | $534.9K | -0.9% |
Prescott Valley | $480K | $470K | -2.1% |
Housing Supply in Prescott, AZ
How many homes are available in Prescott, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
158 | 181 | +14.6% |
Summary: The Prescott real estate market had 181 homes for sale in March 2024, a 14.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 23 | 29 | +26.1% |
3 Bedrooms | 81 | 95 | +17.3% |
4 Bedrooms | 38 | 38 | 0.0% |
5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The Prescott housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.1%, 3 bedroom homes increased by 17.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 27 | 0.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Prescott in March 2024, the same as the previous month. Of the 27 sold homes, 67% were sold under asking, 26% were sold at asking, and 7% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
83 Days | 82 Days | -0.1% |
Summary: Homes in Prescott had an average of 82 days on market in Mar 2024, down by 0.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in Prescott; 26% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 41% of homes were sold over 90 days.