Home Sales Ease in November
Provided by the Prescott Area Association of REALTORS ®
A total of 169 homes sold in Prescott during November, a 5% decrease from the 178 homes sold at the same time last year, according to the Multiple Listing Service Report from the Prescott Area Association of REALTORS® (PAAR).
Meanwhile, the median sales price rose 6.6% year-over-year to $530,000, and homes continued to sell fast, lasting 14 days on the market in November.
Both the number of new listings and the number of active listings experienced decreases last month. Only 127 new listings hit the market (compared to 143 in 2020) and 226 listings were actively available for sale (compared to 256 last year).
Prescott Valley reported 129 home sales in November, a 5.8% drop year-over-year. However, the median sold price increased 23.9% to $440,900 from 2020 with homes staying on the market for a median of 12 days (four more than this time last year). Both active and new listings were also up, with 120 homes actively available on the market and 94 newly listed.
In Chino Valley, home sales dropped nearly 40% for a total of 29 sales (compared to 48 last November). Homes spent just eight days on the market with a median sales price of $418,175, a 21.2% year-over-year increase.
Sales in Dewey-Humboldt reached 42, a 23.5% increase over the previous year, with a median sales price of $362,500, a 6.6% increase. Homes in the area spent a median of 13 days on the market before selling.
Buyers remain wary of tight inventory. Nevertheless, homes continue to move quickly in this market. Having a REALTOR® as an expert guide to help buyers and sellers navigate this evolving market is more important than ever.
* Percentage increases are based on a month-over-month comparison. Data is current as of December 3, 2021