$350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 $125,992 $138,821 $161,413 Yearly Median List Price of Residential Homes For December of Each Year (Prescott Area MLS) $173,233 $207,325 $280,021 $325,670 $309,054 $277,467 $233,764 $197,358 $192,954 $218,406 $244,190 $286,575 $298,345 $321,929 provides a 16 year look at the Residential Yearly Median Sold Price for all of the MLS and the quad-cities area. (Prescott, Prescott Valley, Dewey/Humboldt and Chino Valley.) Here s a glimpse into the future of single family homes sold. We see prices have been on the rise since 2011 and have even come back to a level before the 2005 real estate market boom. It s all pointing to good signs to be in the market today.
4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 2,327 2,572 2,761 3,179 Residential Units Sold Prescott Area MLS (2000-2016) 3,768 3,762 2,742 2,499 2,014 2,341 2,993 3,146 3,473 3,596 3,418 3,758 3,849 provides a 16 year look at the number of Residential listings that sold in the Prescott area MLS. 2016 sales refl ected a slight increase from the previous two years, and still shows a healthy recovery from the bottom-of-the-market year of 2008. Lack of marketable inventory and an increase in median sales price contributed to this decline in total sales. 0
Median Price: Single Family Homes Jan 2000-Dec 2016 (Sales Recorded by Prescott Area Association of Realtors) 2016 $316,800 2015 $301,482 2014 $270,000 2013 $255,000 2012 $224,950 2011 $200,000 2010 $225,400 2009 $250,850 2008 $307,000 2007 $320,000 2006 $346,000 2005 $320,000 2004 $246,000 2003 $205,000 2002 $185,000 $138,000 $136,950 $155,250 $133,000 $124,500 $209,900 $190,000 $170,000 $210,000 $185,500 $237,000 $144,650 $129,900 $154,921 $126,500 $107,000 $139,500 $127,250 $150,488 $149,900 $173,850 $195,000 $184,478 $222,625 $230,000 $235,000 $241,000 $224,900 $205,000 $169,700 $178,805 $145,500 $156,012 $135,000 $143,222 $173,990 $204,949 $164,900 $202,265 $138,500 $185,180 $214,779 $247,628 $256,094 $234,667 provides a 16 year look at the Yearly Median List Price for Residential Listings in the Prescott area MLS. The secret is out, the Prescott area is becoming a more desirable place to live. And with this trend, we often see the asking value of homes increase. Prices have passed the downturn in the market and are predicted to continue to rise. 2001 $162,900 $114,000 $129,950 $127,459 2000 $156,900 $106,050 $112,250 $120,761 Prescott Prescott Valley, Dewey, Humboldt Chino Valley Median Sold Price for MLS Area
98.00% 96.00% 94.00% 92.00% 90.00% Yearly Median of List to Sold Price for Residential Properties (Shown as Percentage Prescott Area MLS) 95.25% 95.42% 95.32% 95.55% 96.61% 96.87% 94.39% 91.48% 88.78% 88.26% 91.05% 93.44% 93.62% 94.13% 95.50% provides a 16 year look at the yearly difference between the Original List Price compared to the actual Sold Price shown as a percentage in the Prescott area MLS. 88.00% 86.00% 84.00% 82.00% 85.55% 87.10% gives a quick glance at what buyers are paying in comparison to what sellers are asking. As you can see, it is on the rise. 80.00% 78.00%
350 300 Yearly Residential Average Days on the Market Prescott Area MLS (2000-2016) 268.25 303.01 provides a 16 year look at the average number of days a home was on the market in the Prescott area MLS. 250 200 150 100 50 109.63 104.31 92.48 97.97 84.56 92.96 84.54 152.81 201.63 200.82 181.48 125.23 105.95 113.38 99.1 It s not just about the price homes are selling for; its also about how long they take to sell. There are many reasons a home may sell faster - from staging the home properly to pricing it right. There are also outside conditions that are beyond our control like mortgage rates, location, and the economy. But our professional Executives can help guide you to the best market price and to get you moving - FAST! 0
18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00 3.55 3.54 3.27 YEARLY RESIDENTIAL ABSORPTION RATE PRESCOTT AREA MLS (2000-2016) 3.70 2.71 2.02 6.87 13.66 17.30 16.47 11.23 7.93 6.33 5.06 5.58 4.58 4.01 provides a 16 year look at the Average Yearly Absorption Rate. (Calculated by dividing the total number of available homes by the average number of sales per month) This is reflected in the number of months. i.e. 3.55 = approx. 3 and 1/2 months supply of available homes on the market in the Prescott area MLS. The chart shows a what is considered more of a seller market. It s all about the negotiations and we are the experts that will work for you whether you re a buyer or seller!
3,000 2,500 2,000 2,061 2,805 Total Number of Lots Sold Prescott Area MLS (2000-2016) provides a 16 year look at the total number of vacant lots that were sold during the year in the Prescott area MLS. 1,500 1,000 500 1,360 1,262 1,320 1,340 1,265 640 326 412 389 536 550 681 735 847 741 There is still plenty of land in the Quad- Cities area of Prescott, Prescott Valley, Chino Valley and Dewey- Humboldt to place your custom home. As this number rises, fi nding the perfect lot becomes increasingly diffi cult. Now might be the time to secure yours! 0
$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 $43,500 $45,000 $40,450 Yearly Vacant Lots Median Sold Price (Prescott Area MLS) $52,900 $63,500 $77,500 $94,000 $90,000 $70,950 $42,250 $27,500 $34,000 $32,500 $37,500 $49,000 $40,500 $41,000 provides a 16 year look at the Median Sold Price for vacant lots sold in the Prescott area MLS. Want to build your dream home? The average price of land has slightly declined. There are still plenty of subdivisions and lots available to build a custom home on and now might be the time to buy! Land is predicted to go up in the next few years as interest rates are still low and inventory falls.