Prescott, AZ – The median home sales price in the Quad Cities region rose once again in July, according to the housing market report released by the Prescott Area Association of REALTORS® (PAAR). The Quad Cities region’s median home sales price was $470,100 in July. The 348 closed regional home sales during the same month represents a 17.1% decline from the same time last year.
Dewey-Humboldt led the Quad Cities with an 18.5% increase in median selling price during July, reaching $467,500. Prescott’s median sales price grew from this time last year by 13.4% last month, reaching $612,420.
“Quad Cities REALTORS® are encouraged to see more opportunities for buyers in the housing market as inventory increases,” said George Beitzel, 2022 PAAR President.
“Looking ahead, the current moderation in mortgage rates may bring more buyers back to the market as they try to take advantage of low rates,” Beitzel added. “As buyers and sellers navigate ongoing economic changes and fluctuating mortgage rates, REALTORS® can help them successfully reach the closing table.”
Prescott Valley had a median price increase of 6.4% compared to a year ago, reaching $425,000 at the end of the month of July. The 94 closed home sales represent a 16.8% decrease compared to the same month in 2021. The median sales price in Chino Valley held steady at $390,000, with 39 homes sold in July.
The 1,101 homes listed for sale in the Quad Cities region at the end of July reflect a doubling of available homes 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.