Prescott Area Real Estate Association (PAAR) publishes monthly updates showing home sales for February in key areas of Yavapai County, including Prescott Valley, Prescott, Chino Valley and Dewey Humboldt. Here is a summary of quad city home sales market statistics in central Arizona.

For all PAARs in February 2023:

• Total Sales: 220
• New list: 372
• Active Inventory: 862
• Inventory Months: 3.9
• Median selling price: $448,250
• Average days in market: 55

Prescott in February 2023:

• Total sales: 85
• New list: 139
• Active Inventory: 336
• Months in stock: 4
• Median selling price: $489,000
• Average days in market: 42

Prescott Valley in February 2023:

• Total sales: 66
• New list: 104
• Active Inventory: 183
• Inventory Months: 2.8
• Median selling price: $457,500
• Average days in market: 56

Chino Valley in February 2023:

• Total sales: 18
• New list: 33
• Active Inventory: 73
• Inventory Months: 4.1
• Median selling price: $390,000
• Average days in market: 51

Dewey Humboldt in February 2023:

• Total sales: 15
• New list: 27
• Active Inventory: 63
• Inventory Months: 4.2
• Median Selling Price: $410,000
• Average days on market: 105

The chart below contains the following information:

• Sold – The number of property listings sold in the last month.
• Median Days on Market – The median number of days the property was on the market from listing date to signing date.
• New Listings – Number of new property listings added to MLS during the month
• Median List Price – The median (middle) price property listed in the MLS for the month

A detailed report is available at: https://dashboards.domusanalytics.com/v/PrescottInfographic and https://dashboards.domusanalytics.com/v/PrescottInfographicArea

Positive indicators for Quad Cities housing market

That may be why recent data is boosting confidence in local real estate, according to a housing report released today by the Prescott Area Association of REALTORS® (PAAR).

Median sales prices across all regions rose again in February, with Prescott Valley leading the quad cities with a 5.2% increase. Regions where median sales prices have fallen were also mostly confined to his single digits. Median sales prices in the Prescott region were down 15%. This may reflect that the region has consistently recorded the highest rise in median monthly sales prices during the pandemic housing boom.

Most notable, however, was the 189.3% increase in active inventory across PAARs in February. Dewey-Humboldt leads the category with his 4.2 months stock, followed closely by Chino Valley (4.1 months) and Prescott (4 months). His January stock in Prescott Valley was his 2.8 months, up slightly from last month. Most recently, in January 2022, the country hit its lowest home inventory in his 20 years, despite a surge in home buying due to the pandemic. This has spurred a parallel decline in mortgage applications as supply and demand principles pushed home prices higher than many Americans expected in times of financial turmoil. data show that by early 2022, Arizona will have created nearly 400,000 jobs, fully recapturing 100% of the pandemic-related job losses in the state.

“While low inventory presents challenges for buyers, current market conditions can present unique challenges for sellers as well. An experienced REALTOR® assesses the fair market value of individual properties We know how,” said 2023 PAAR President M. Faye Humphrey.

“Many REALTORS® have completed rigorous training through local, state and national associations and specialize in representing buyers or sellers, commercial or residential real estate.
Even military relocation,” Humphrey added. “Why would you leave your home or business to an unqualified person?”

Some residents may be disappointed that the data show a decline in total sales last month (31.5%) across all regions, but the outlook is key. New listings also fell by an average of 11.2% over the same period. As the country and our region continue to prioritize community housing inventory, history shows that when one improves, the other is likely to follow.

Editor’s Note: All data are compiled from the Prescott Area Association’s Multiple Listing Service of REALTORS® single-family, manufactured, mobile, modular, condominium, and townhouse homes in Prescott, Prescott Valley, Chino Valley, and Dewey. Includes activities.Humboldt

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