Prescott Area Association of Realtors (PAAR) publishes monthly updates showing the status of the June home sales through the main areas served in Yavapai County including Prescott Valley, Prescott, Chino Valley, and Dewey-Humboldt. Here is a summary of the home sales market statistics in the quad cities of central Arizona:

For all of PAAR in June 2022:

The chart below includes information on:

The median home sales price in the Quad Cities region was up more than 15% in the first half of 2022 compared to the first six months of 2021, according to the housing market report released today by the Prescott Area Association of REALTORS® (PAAR). The Quad Cities region’s median home sales price was $451,000 through the end of June. The 2,151 closed regional home sales in the first half of the year represented a 4% decline from the same period in 2021.

Prescott led the Quad Cities with a 20% increase in median selling price during the first half of 2022, despite a 6.9% decline in home sales compared to the first six months of 2021. The median sales price in Prescott was $600,000, up from the $500,000 median posted in the first half of 2021. There were 818 closed home sales between Jan. 1 and June 30, down from the 879 sold during the same period in 2021. Homes were on the market for a median time of nine days, so far this year.

Prescott Valley’s median sales price grew by 16.9% in the first half of 2022 compared to last year, reaching $450,000. The 643 homes sold in the first six months of the year were slightly ahead of the 638 sold in the 2021 first half. Seven days represents the median time a home was on the market in Prescott Valley during the first six months of 2022.

“Quad Cities REALTORS® are starting to see our housing market normalize after nearly two years of off-the-charts activity,” said George Beitzel, 2022 PAAR president. “Buyers, who recognize all the benefits homeownership in our region offers, are being much more measured in their approach to finding their next home as they navigate rising mortgage rates and changing economic conditions. As a result, we have watched closed sales slow from unsustainable highs to typical pre-pandemic levels as the first half of 2022 ended.”

“Looking ahead, buyers will have more homes to choose from as the number of homes listed for sale across the region continues to rise from all-time lows,” said Beitzel, adding the number of listed homes at the end of June increased by nearly 109% compared to June 2021. “While ongoing economic changes and higher mortgage rates will impact our housing market for the balance of the year, the fundamental life reasons someone buys or sells a home remain constant and will drive activity.”

Chino Valley had a median price increase of 10.2% compared to a year ago, reaching $385,000 at the end of the 2022 first half. The 221 closed home sales represent a 12.3% decrease compared to the first half of 2021. Dewey-Humboldt had 185 closed home sales through June 30, an increase of 14.9% from a year ago. The median sales price was $410,000 in the first half of 2022, an increase of 12.3% from last year.

There were 1,007 homes listed for sale in the Quad Cities region at the end of June, a 108.9% increase from the June 2021 total of 482.

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.

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