The median price of a home sold in the Quad Cities area increased nearly 2% in October to $489,000, according to the Multiple Listing Service of the Prescott Area Association of REALTORS® (PAAR).
A total of 264 sales closed during the month, while 943 homes remained actively available for purchase.
Chino Valley reported the largest percentage in sales growth in the area. Thirty homes closed in October, up four from the same month in 2022. Meanwhile, the median sales price dipped 2.6% to $396,500, and 32 new listings came on the market.
Both Prescott and Prescott Valley experienced fewer sales this year over last year, with Prescott reporting 127 closed sales and Prescott Valley ending the month with 88 sales completed.
However, inventory in both towns increased from last year, with 3.9 months available in Prescott and 2.9 months in Prescott Valley. While Prescott maintained the highest median sold price in the Quad Cities with $592,500 in October, Prescott Valley remained the second highest, posting a 3.8% year-over-increase last month for a median price of $454,950.
Dewey-Humboldt saw the largest percentage growth in new listings, doubling from last year’s 28 to this year’s 42 newly available properties for sale. However, sales in the area dropped from 29 last year to 19 this year.
“Inventory continues to loosen, but it is still very much a sellers’ market,” said Faye Humphrey, PAAR’s 2023 President. “It’s important to get pre-qualified, find a REALTOR® that knows the local area, and be ready to hit the ground running. Also, know your priorities in a home so you can stay focused and find that property that meets your needs.”
Since January, there have been 2,562 homes sold in the Quad Cities with a median sales price of $488,868.
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.
