Prescott, AZ Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are home prices dropping in Prescott Valley, AZ? ›

Based on all homes sold in the last 12 months. Homes in Prescott Valley have sold for 2.1% less than they did a year ago. Summary: The median home sold price in Prescott Valley was $470,000 in March 2024, down 2.1% from last year, and the median price per square foot was $280.

Reason #1: Increased demand

Many people are moving to Prescott, Arizona. Currently, there are over 47,000 residents in this central city of Arizona, and the population has been rising steadily over the past three decades.

According to C2ER (the Council for Community and Economic Research), the cost of living in Prescott is estimated to be 115.6% of the national average making it one of the more expensive cities in the US.

Prescott, Arizona's cost of living is 16% higher than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.

Prescott is the ideal place to live for those who enjoy spending time outdoors. Enjoy year-round hiking, mountain biking, fishing, golf, kayaking, rock climbing, and more. Rich in history and also known as the “antique capital of Arizona,” Prescott offers a variety of attractions for all ages and interests.

Although for most people our potable water will last for some time, the declining water table is causing a steady loss of surface water flow and riparian habitat. Most CWAG board members are retired, live in or near the City of Prescott, and are not concerned about potable water supplies in the near term.

Located north of Phoenix, Yavapai County is home to the city of Prescott, as well as numerous National Forests and wilderness areas. The county offers residents abundant natural beauty, and low property tax rates. The average effective property tax rate in Yavapai County is just 0.58%.

In 2022, there were 23.9 times more White (Non-Hispanic) residents (39.4k people) in Prescott, AZ than any other race or ethnicity. There were 1.65k White (Hispanic) and 1.44k Other (Hispanic) residents, the second and third most common ethnic groups. 8.66% of the people in Prescott, AZ are hispanic (3.99k people).

With gentle snowfall averages of 5 - 6 inches per month in December, January and February, Prescott is an ideal winter playground. Winter visitors can anticipate average high/low temperatures of 51°/23°F in December, 51°/22°F in January and 54°/25°F in February.

Who is the largest employer in Prescott, AZ? ›

The only thing richer than Prescott's lush trails is its history, so guests won't want to let their trip go by without visiting one (or more!) of the city's history and art museums overflowing with awe-inspiring artifacts and masterpieces.

Perched a mile high at the northern edge of the Bradshaw Mountains amid the world's largest ponderosa pine forest, Prescott breaks the desert stereotype while still offering sunny skies much of the year. Its mellow four-season climate creates a mecca for outdoor recreation.

Are Home Prices Dropping in 2024? Home prices are not dropping in 2024; in fact, they have increased. In May 2024, home prices in Arizona rose by 3.6% year over year, reaching a median price of $451,500. This trend indicates a continued appreciation in home values rather than a decline.

The months from March to June are the best time to buy a house in Arizona. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

Living in Prescott Valley offers residents a suburban rural mix feel and most residents own their homes. In Prescott Valley there are a lot of parks. Many retirees live in Prescott Valley and residents tend to lean conservative. The public schools in Prescott Valley are above average.

The average price per square foot to build rose to $321 in 2021 from $235 in 2020 (and $219 in 2019). In Prescott, Arizona, the cost per square foot to build a custom home ranges from $300-450. Another large component of the cost to build is land.