Is Prescott, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Prescott has remained a Seller's Market.
Key Takeaway
Prescott is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prescott, AZ
How much do homes in Prescott, AZ cost?
Median Sold Price
$651,000
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Prescott have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Prescott was $651,000 in April 2024, up 2.9% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $317.5K | $277.7K | -12.5% |
| 2 Bedrooms | $421.3K | $461K | +9.4% |
| 3 Bedrooms | $695K | $683.3K | -1.7% |
| 4 Bedrooms | $783.7K | $827.1K | +5.5% |
| 5+ Bedrooms | $1.0M | $899K | -11.4% |
Summary: Prescott housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Cities
| Prescott | $632.8K | $651K | +2.9% |
| Mingus Mountain | $538.1K | $535.6K | -0.5% |
| Prescott Valley | $477.5K | $472.2K | -1.1% |
Housing Supply in Prescott, AZ
How many homes are available in Prescott, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 181 | 206 | +13.8% |
Summary: The Prescott real estate market had 206 homes for sale in April 2024, a 13.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 30 | 37 | +23.3% |
| 3 Bedrooms | 97 | 112 | +15.5% |
| 4 Bedrooms | 38 | 38 | 0.0% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Prescott housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 15.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 35 | +29.6% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prescott, you may be able to get a good deal. 74.3% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Prescott in April 2024, up by 29.6% month-over-month. Of the 35 sold homes, 74% were sold under asking, 14% were sold at asking, and 11% were sold over asking.
Days on Market for Prescott, AZ
How long does it take to sell a home in Prescott, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 62 Days | 64 Days | +4.0% |
Summary: Homes in Prescott had an average of 64 days on market in Apr 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Prescott has remained consistent over time.
Summary: During April 2024, 35 homes were sold in Prescott; 34% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.