Is Prescott, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Prescott has remained a Seller's Market.
Housing Prices in Prescott, AZ
How much do homes in Prescott, AZ cost?
Median Sold Price
$651,000
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Prescott was $651,000 in April 2024, up 2.9% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $317.5K | $277.7K | -12.5% |
2 Bedrooms | $421.3K | $461K | +9.4% |
3 Bedrooms | $695K | $683.3K | -1.7% |
4 Bedrooms | $783.7K | $827.1K | +5.5% |
5+ Bedrooms | $1.0M | $899K | -11.4% |
Summary: Prescott housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Cities
Prescott | $632.8K | $651K | +2.9% |
Mingus Mountain | $538.1K | $535.6K | -0.5% |
Prescott Valley | $477.5K | $472.2K | -1.1% |
Housing Supply in Prescott, AZ
How many homes are available in Prescott, AZ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
181 | 206 | +13.8% |
Summary: The Prescott real estate market had 206 homes for sale in April 2024, a 13.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 30 | 37 | +23.3% |
3 Bedrooms | 97 | 112 | +15.5% |
4 Bedrooms | 38 | 38 | 0.0% |
5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Prescott housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 15.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 35 | +29.6% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Prescott in April 2024, up by 29.6% month-over-month. Of the 35 sold homes, 74% were sold under asking, 14% were sold at asking, and 11% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 64 Days | +4.0% |
Summary: Homes in Prescott had an average of 64 days on market in Apr 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 35 homes were sold in Prescott; 34% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.