Prescott Area Association of Realtors (PAAR) publishes monthly home sales updates for June in key areas of Yavapai County, including Prescott Valley, Prescott, Chino Valley and Dewey Humboldt. Below is a summary of home sales market statistics in quad cities in central Arizona.

Overall PAAR for June 2023:

• Total sales: 357
• New listings: 524
• Active Stock: 1149
• Inventory Months: 3.2
• Median selling price: $485,000
• Median days on market: 25

Prescott June 2023:

• Total sales: 156
• Number of new properties: 236
• Active inventory: 546
• Inventory Months: 3.5
• Median selling price: $586,500
• Median days to market: 26

Prescott Valley in June 2023:

• Total sales: 85
• Number of new properties: 135
• Active inventory: 208
• Inventory Months: 2.4
• Median selling price: $470,000
• Median days on market: 18

Chino Valley in June 2023:

• Total sales: 36
• Number of new listings: 45
• Active inventory: 74
• Inventory Months: 2.1
• Median selling price: $442,500
• Median days to market: 11

Dewey Humboldt in June 2023:

• Total sales: 23
• Number of new listings: 32
• Active inventory: 74
• Inventory Months: 3.2
• Median selling price: $431,500
• Median days on market: 20

The chart below contains the following information:

• Sold – The number of properties sold in the last month.
• Median Days On Market – The median (median) number of days a property has been on the market from listing date to contract date.
• New Listings – Number of new listed listings added to MLS in a month
• Median list price – median (median) price of properties listed on the MLS for the month

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

A bright spot in the quad city real estate market

Inventory growth continued to have a positive impact on overall home sales from May 2023 to June 2023, according to a housing report released today by the Prescott Area Association of REALTORS® (PAAR).

A highlight of the June data was Prescott’s total sales growth, which increased 4.0% from May to June 2023, marking the first positive growth for the category this year. Another bright spot is that home sales are clearly picking up, dropping only 4.8% in June, compared with a 13.9% drop in May. This is an increase of 9.1% out of a total sales rate of 9.1%. This equates to an increase in the total number of homes sold from his 346 in May to his 375 in June.

Median sales prices for June 2023 have started to rise across Quad Cities, up 3.5% last month. Dewey Humboldt & Co. led the category with an 8.1% increase, while Prescott (4.8%) and Prescott Valley (4.4%) saw small but significant increases in median sales prices.

Inventory months continued to increase across Quad Cities and surrounding areas, increasing by 23.1% month-on-month. This reflects a change from 2.6 months inventory in June 2022 to 3.6 months inventory at the same time this year. In his June 29 press release for the National Association of REALTORS®, NAR chief economist Lawrence Yun said, “Despite a slump in pending deals, the housing market remains resilient and property We get about three offers every year,” he said. “Due to a shortage of housing inventory, housing demand continues to be under-fulfilled,” Yoon added. Historically, six months of supply has been accompanied by moderate price increases.

In Quad Cities, the decline in new listings across all regions is a key focus that provides context to the discussion of current market conditions. 2023 PAAR Chairman M. Faye Humphrey said, “The logic of the market is that if there are fewer listings, there will be fewer sales.” “Inventory shortages, both nationally and domestically, are still a factor, but we hope that this situation will ease as we enter the fall season,” Humphrey added.

Editor’s Note: All data is compiled from the Prescott Regional Association of REALTORS® multi-listing service for single-family, manufactured, mobile, modular, condominium, and townhouses in Prescott, Prescott Valley, Chino Valley, and Dewey. Includes residential activities.Humboldt

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