Housing Remains in High Demand

Provided by the Prescott Area Association of REALTORS ®
A total of 188 homes sold in the city of Prescott during October (down slightly from 190 in September), according to the Multiple Listing Service Report from the Prescott Area Association of REALTORS® (PAAR).
The median sales price dipped 1.5% from last month while rising 15.6% from this same month last year with a price of $542,500. Days on market remained low at 13 days compared to 28 days last year.
The number of homes actively listed on the market in October saw a slight 1.1% increase year-over-year with 287 homes. Meanwhile, the number of homes newly listed experienced an 18.4% decrease from last year with 168 homes hitting the market in October.
In Prescott Valley, a total of 126 homes sold in October, which is 3.3% more homes than the previous month. The number of homes actively available on the market also saw an increase from last month with 140 listings (compared to 138 in September). However, the number of new listings decreased by 14.6% compared to 2020. Homes stayed on the market for a median of 16 days in October, and the median sales price of a home in Prescott Valley was $402,750.
Chino Valley reported a total of 51 homes sold in October, which is two more than sold this same month in 2020. Homes spent a median of 28 days on the market (compared to 23 in 2020) with a median sales price of $389,000.
Sales in the Dewey-Humboldt area increased when compared to last year for a total of 41 homes sold. Homes in the area spent a median of 22 days on the market, while 46 new listings became available and 70 listings were active. The median sales price of a home in October was $425,000.
Inventory remains tight and homes are still moving quickly in this high-demand market. It is more important than ever to work with a knowledgeable REALTOR® who knows the local area and can provide expert guidance to anyone interested in buying or selling property.
About PAAR:
The Prescott Area Association of REALTORS® has over 2,000 REALTOR® members serving the greater Quad Cities area. PAAR is one of more than 1,200 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).
* Percentage increases are based on a month-over-month comparison. Data is current as of Nov. 3, 2021