SignalsAZ.com Prescott News Podcast - March 2025 Housing Stats for Prescott Region

Episode Date: April 10, 2025

Send us a text and chime in!SignalsAZ.com published the March 2025 home sales market statistics compiled by the Prescott Area Association of Realtors (PAAR). This report details residential real estate activity across Yavapai County's quad cities: Prescott, Prescott Valley, Chino Valley, and Dewey-Humboldt. The data includes total sales, new listings, active inventory, months of inventory, median sold price, and median days on market for both the overall PAAR region and each individual city. These statistics provide a snapshot of the housing market in central Arizona for that specific month. Listen in.Check out the CAST11.com Website at: https://CAST11.com Follow the CAST11 Podcast Network on Facebook at: https://Facebook.com/CAST11AZFollow Cast11 Instagram at: https://www.instagram.com/cast11_podcast_network

All right, so hey, everyone, and welcome back to the deep dive. You know, one of the things we always try to do here is keep you ahead of the curve, especially when it comes to stuff that hits your wallet. Yeah, for sure. And for a lot of folks, nothing hits the wallet, quite like the housing market, right? So today we're going to dig into some really fresh numbers, give you the inside scoop on what's going on with real estate in a pretty key part of Arizona. Right on.

We're going deep on this one, really breaking down the March 2025 home sales data from the P-A-A-R, that's the Prescott Area Association of Realtors. That's right. Covers Yavapai County, Arizona, zeroing in on Prescott Valley, Prescott itself, Chino Valley, and Dewey Humboldt. Okay, so whether you're living in one of those areas thinking about making a move or just, you know, kind of a real estate nerd like me. Yeah. This is the deep dive for you. We're all about cutting through the noise and giving you a clear picture of what's happening in the market, right?

Absolutely. And just to be super clear, we're looking at all types of residential properties. here. Single-family homes, manufactured homes, mobile homes, modular homes, condos, townhouses, the whole shebang. The whole nine yards, yeah. So before we get into the nitty-gritty of each town, what were some of the big picture takeaways for the whole P.A.R. region last month. Well, in March 2025, across the whole PAR region, we saw 228 homes sold. There were 543 brand-new listings that popped up on the market. And the total number of active listings, the ones, that were still out there for sale was 1,367.

Okay, so those numbers give us a sense of the, like, the raw activity. But what I was find fascinating is that months of inventory figure, it was sitting at 4.6 for March. Yeah. Now, for folks who aren't, you know, real estate agents are super into this stuff, can you explain what that number actually tells us? Like, what does it mean for the market overall? Sure.

So months of inventory, it's like a thought experiment, right? It's basically saying, okay, if no new houses came on the market at all and houses kept selling at the same rate they are now, how many months would it take to sell every single house that's currently listed? Gotcha, gotcha. So like a market that's balanced where buyers and sellers have pretty equal power, you're usually looking at five to six months of inventory. Okay.

So in March, with 4.6, the P.A.R region as a whole, it was tipping a little bit towards a seller's market. Oh. Not a huge surplus of homes compared to how many people wanted to buy. Yeah, so a little more competitive for buyers, at least at the regional level. What about the price tags? Like, what were people actually shelling out for these homes? Right. Well, for the entire PAR region, the median sold price was $510,000. That gives you a kind of middle ground. But yeah, I bet we see some pretty big swings when we start looking town by town.

Yeah, for sure. And before we do that, just quickly, that median number of days, a home was on the market. That was 49 days for the whole region. Yeah. So what does that tell us about the pace of things, would you say? It's just a pretty decent amount of activity. Forty-nine days, I mean, houses weren't exactly four. flying off the shelves, but they weren't sit around getting dusty either, you know. Right, right. Okay, so that's the big picture. Let's zoom in now, starting with Prescott itself. What was happening there in March?

Okay, so in Prescott, we had 101 homes sold, 235 new listings, and the number of homes actively up for sale was 564. Now, this is interesting. The months of inventory for Prescott was also 4.6. Oh, okay. So matching the overall region exactly in terms of that balance supply and demand, at least, But I have a hunch, the prices in Prescott might tell a different story. You got it.

The median sold price in Prescott, general place, $625,000. That is a big jump up from the PAAR region's overall median of $510,000. Definitely showing that Prescott homes are pricier. Yeah. And the median time on market for Prescott 48 days. So just a smidge faster than the regional average. Okay, so higher prices, but selling it a pretty similar clip to the rest of the area. Yeah.

Let's move over to Prescott Valley now. How did it stack up against Presscott? All right. So Prescott Valley, total sales for March, were 85, a little bit lower than Prescott's 101. Oh. They had fewer new listings, too, 136, and a smaller active inventory, 269 properties. Okay. Now, this is the part that might catch your eye. The months of inventory in Prescott Valley, just 3.2.

Whoa, okay, 3.2. That is way lower than both Prescott and the overall region. So what does that super tight supply in Prescott Valley mean for someone who's thinking about buying or selling there? Well, when you see that kind of low months of inventory, it usually signals a stronger seller's market, fewer homes on the market, got a bunch of buyers, that puts the sellers in the driver's seat. Right, right. Could see prices getting pushed up even more in that kind of environment. Yeah, makes sense. And speaking of prices, what was that median sale price in Prescott Valley? So median sold price there was $480,000.

That's lower than Prescott, obviously, and even a bit under the PAR region's overall median. Ah, interesting. Yeah, so you've got that price difference and that really tight inventory. Prescott Valley's got a different vibe going on compared to Prescott. That's for sure. For sure. And just out of curiosity, the days on market in Prescott Valley. 58 days.

58. So that's actually a bit longer than both Prescott and the overall average. That's a little counterintuitive, isn't it? You'd think fewer homes would mean things sell faster. Yeah, you'd think so, right. That's what makes these local markets so interesting. Yeah. There could be a bunch of reasons for that.

Maybe the types of homes that sold in March in Prescott Valley, maybe they were just naturally ones that take longer to sell, like bigger homes, more unique properties, that kind of thing. Or it could be the buyers in that specific area. Maybe they're being more careful taking their time, negotiating harder, even though there are fewer homes to choose from, really shows how even within a pretty small area, you can have these little submarking. that behave in their own way. Yeah, absolutely. Okay, let's shift gears to Chino Valley now. So we had 228 total sales for the whole PAA region. We go Prescott Valley had 85, Prescott had 101.

Right. Chino Valley is going to be a smaller number, right? Yeah. What did the stats tell us? You're right on the money there. Chino Valley had 23 total sales in March. They had 45 new listings, and their active inventory was sitting at 113 properties. months of inventory there is 3.8.

Okay, so 23 sales, that's definitely quite a bit lower than the other two places we've talked about. For someone who's looking at these numbers, what are some of the main reasons you'd point to for that difference? Is it just a smaller market in general? Yeah, that's a big part of it, most likely. Chino Valley just has a smaller population than Prescott or Prescott Valley, so it makes sense that you'd have fewer real estate deals going down overall. Right. The types of homes available there, that could play a role too. Yeah, for sure.

And what about the price point for homes in Chino Valley? Okay. So the median sale price in Chino Valley, $385,000. That is the lowest we've seen out of all four of these areas. Okay. Could be a sign that Chino Valley is a bit more of an affordable place to get into the housing market in that region. That lower price point, it could be because of the types of homes they have their sizes, you know, things like that. Could also be the location, the amenities they offer compared to Prescott or Prescott Valley.

Right. Yeah, that all tracks. Okay. Now, here's a number that jumped out of me. Median days on market in Chino Valley. 12 days. Whoa. That is crazy fast. Yeah.

The region's average was 49. Prescott was 48. 12 days is like lightning speed. What do you think is driving that super fast turnover in Chino Valley? Yeah. That is a head scratcher for sure. I mean, a few things could be happening. Maybe the houses that were coming onto the market in Chino Valley in March,

they were just super appealing to buyers, you know? Yeah. They're like really good value for the money. Or it could be that buyers in that market, they're just more, I don't know, urgent. Maybe that lower price point is bringing in a lot of people and they're jumping on things quickly. Yeah. It's definitely an outlier compared to the other areas. So we'll have to see if that keeps up.

Yeah, keep an eye on that one. Okay. Last but not least, Dewey Humboldt, the final area in this report. What were the highlights there in March 2025? All right. So Dewey Humboldt had the fewest total sales in. March, just 12 transactions. They had 39 new listings pop up and the active inventory was at 111 properties. Okay. And this is interesting. Their months of inventory was the highest out of all four areas at 5.6.

Okay, so 5.6, that's definitely edging closer to what's usually considered a balanced market. Yeah. Maybe even tipping a little bit towards buyers compared to some of the other areas we've been looking at. What does that higher inventory level mean for people trying to sell in Dewey Humboldt? Well, for sellers, more inventory means buyers have more choices, right? Yeah. Might give those buyers a little more leverage when they're negotiating compared to, say, Prescott Valley where things are much tighter. Right. Sellers might have to be smarter about their pricing and they might have to wait a little longer for their house to sell.

Makes sense. Yeah. What was the median price in Dewey Humboldt? Median sold price there, $495,000. So right in the middle compared to the other towns. higher than Chino Valley, lower than Prescott. Gotcha. And days on market.

56 days. Okay, 56. So also a bit longer than the overall P.A.R. average. Yeah. Similar to Prescott Valley. A little slower pace of sales than Prescott. Yeah. And definitely Chino Valley.

Yeah. Okay. So we've done a deep dive on each individual area. Let's pull back now and look at some of the big comparisons, the key takeaways from all this March 2025 data. The difference in prices across these four towns, it's pretty striking. wouldn't you say? Yeah, absolutely. Pretty wide range there.

Chino Valley at the lower end, all the way up to Prescott at the higher end. What do you think is driving that? I think it's a mix of things, and they're all worth thinking about. The types of homes you find in each area, how desirable the location is, the lifestyle, the amenities, and just the overall demand. Prescott, with its history and maybe more of those higher-end homes, it makes sense that it would command those higher prices. Yeah. And those months of inventory numbers, they tell a story, too. Prescott in the overall region, they seem pretty balanced, but Prescott Valley, that tight inventory, strong sellers market there.

And then Dewey Humboldt with more inventory, buyers might have a bit more breathing room there. Exactly. Those differences in inventory, they can really change the game, whether you're buying or selling. If you're trying to buy in Prescott Valley, you're up against more competition. You might not have as much wiggle room to negotiate compared to, say, Dewey Humboldt. For sure. And we can't forget about Chino Valley, right? those super fast sales, 12 days, that's just wild.

Yeah. Makes you wonder if they've hit some kind of sweet spot there. Affordability and desirability all rolled into one. Yeah, it could be that Chino Valley is attracting a lot of first-time buyers or families looking for a more affordable option in the area. Yeah. That price point, the types of homes they have there, it seems to be creating a really hot market.

Yeah. Definitely worth watching to see if that trend continues. Absolutely. So bottom line, even though these four areas are all pretty, pretty close together geographically. Their real estate markets, back in March at least, were doing their own thing. Yeah. Prescott, with the high prices and steady sales.

Prescott Valley with the limited choices and slightly longer selling times. Chino Valley, that's super fast pace and lower prices. And then Dewey Humboldt, the most inventory, moderate prices and a more moderate pace of sales. Exactly. If you're trying to get a handle on this market, you've got to go beyond those big regional numbers. Zoom in on what's happening in each town. For sure. Well, hopefully everyone listening now has a much clearer, more nuanced view of the real estate scene in Prescott, Prescott Valley, Chino Valley, and Dewey Humboldt as of March 2025.

We've covered a lot of ground. And hopefully, whether you're buying, selling, or just curious, you've got some useful insights. Yeah, definitely. And, you know, thinking about all this, it makes me wonder, what are the bigger forces at play here? Yep. What's driving these trends in each of these communities? Are certain industries booming in one town, but not another? Are people moving in, moving out?

Are there lifestyle preferences that are changing things up? It's definitely something to think about those bigger connections. Absolutely. Well, on that note, we'll leave you to ponder those questions. Thanks for diving deep with us, and we'll catch you on the next one. See you next time.