Prescott, AZ – September 6, 2022 – The Quad Cities added 582 new listings to the market last month for a total active inventory of 1,191 homes for sale across all four regions. That is twice as many as the 564 homes available for sale this time last year, a 111.2% overall increase.
The median home sales price in the Quad Cities region rose once again in August, according to the housing market report released today by the Prescott Area Association of REALTORS® (PAAR). The Quad Cities region’s median home sales price was $470,000 in August. The 321 closed regional home sales during the same month represents a 26.4% decline from the same time last year.
Dewey-Humboldt led the Quad Cities for the second month in a row with a 7.5% increase in median selling price during August, reaching $446,250. Prescott Valley followed closely with a median selling price increase of 7%, topping out at $433,250 for the month.
“Homes in the Quad Cities are staying on the market longer than last year, but we are still well ahead of pre pandemic levels,” said George Beitzel, 2022 PAAR President.
“While inventory continues to rise it remains a sellers’ market, so it’s important to get pre-qualified, find a REALTOR® that knows the local area, and be ready to hit the ground running.”
Prescott and Chino Valley recorded drops in median sold price compared to August of last year, though the decrease in both areas was confined to single digits.
The 1,191 homes listed for sale in the Quad Cities region at the end of August continues to reflect a doubling of market inventory since this time last year.
The detailed reports are available here: https://dashboards.domusanalytics.com/v/PrescottInfographic and https://dashboards.domusanalytics.com/v/PrescottInfographicArea
Editor’s Note: All data is compiled from the Multiple Listing Service of the Prescott Area Association of REALTORS®and includes single-family, manufactured, mobile, modular, condos, and townhouse residential activity in Prescott, Prescott Valley, Chino Valley, and Dewey-Humboldt.