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.

Prescott is ranked 38 out of 273 cities across the US in terms of cost of living. The cost of living in Prescott is 115.6% of the national average.

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.

About. In 2022, Prescott, AZ had a population of 46.1k people with a median age of 60.5 and a median household income of $66,330. Between 2021 and 2022 the population of Prescott, AZ grew from 45,063 to 46,054, a 2.2% increase and its median household income grew from $61,090 to $66,330, a 8.58% increase.

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.

From 2020 to 2021, employment in Prescott, AZ grew at a rate of 3.37%, from 14.9k employees to 15.4k employees. The most common employment sectors for those who live in Prescott, AZ, are Health Care & Social Assistance (2,628 people), Retail Trade (2,211 people), and Educational Services (1,500 people).

What is the race population in Prescott Arizona? ›

Race & Ethnicity

The largest Prescott racial/ethnic groups are White (85.6%) followed by Hispanic (8.7%) and Two or More (2.5%).

Low humidity year-round benefits respiratory patients, yet there is enough moisture to support many square miles of Ponderosa Pine in the nearby National Forest. And there's plenty of Arizona sun, too!

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.

Conveniently situated midway between Phoenix and Flagstaff, Prescott, perched at a mile-high elevation, maintains a climate that is approximately 10 to 15 degrees cooler than Phoenix and 10 to 15 degrees warmer than Flagstaff. This makes it an ideal locale with a mild, four-season climate.

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.