Sellers’ Market Persists in Quad Cities Housing Market

Prescott, AZ – October 9, 2023 – Total sales in the Quad Cities in September took a slight dip year-overyear, falling 5.9 percent, according to the Multiple Listing Service of the Prescott Area Association of

REALTORS® (PAAR).

The median home selling price in the region was $475,500 in September while closed sales totaled 270.

Prescott Valley posted the largest growth in home sales locally, with a nearly 34 percent increase from last year for a total of 95 homes sold in September. In Prescott, 128 homes sold last month, just 16 less than this time last year. Months of inventory in both towns remained low, though Prescott Valley’s inventory of just 2.5 months was significantly lower than Prescott’s 4.1 months. Prescott posted the highest September median selling price at $510,000 while homes went under contract

in a median time of 27 days. Meanwhile, Prescott Valley’s median sales price grew by 0.5 percent from a

year ago to reach $462,400 in September. Homes there spent a median of 25 days on the market.

“Homebuyer demand remains exceptionally strong throughout the Quad Cities with the steady increase in

local home prices reflecting a healthy and desirable real estate market,” said Faye Humphrey, PAAR’s

2023 President. “We anticipate it will continue to be a competitive market with the balance tipped toward

sellers throughout the remainder of this year.”

Chino Valley had the greatest median sales price increase in the region, jumping up to $381,100 with 25

closed home sales. Dewey-Humboldt had 22 closed home sales, just four less than this time a year ago.

The median sales price was $372,500. There were 952 homes listed for sale in the Quad Cities at the end of September, a three percent decrease from the September 2022 total of 984.

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, condominiums, and townhouse residential

activity in Prescott, Prescott Valley, Chino Valley, and Dewey-Humboldt.

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About PAAR:

The Prescott Area Association of REALTORS® (PAAR) is the trade association representing more than 2,000 REALTORS® serving the greater Quad Cities area. Established in 1944, PAAR’s mission is to advocate for private property rights, and provide its members with resources to foster their business success. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®.