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Prescott: The Right House at the Right Price in the Southwest

30 January 2017  

Sunset Magazine is bullish on Prescott, Arizona these days.

Asking, “Where can you find the right house at the right price, a reasonable salary, and maybe a decent restaurant for date night?” Christine Ryan of Sunset Magazine pointed to Prescott, Arizona as the best in the Southwest, in her article titled, “20 Best Value Towns in the West.”

A couple of the statistics Ryan offered include:

  • Median home price: $285,000
  • Average property tax: $1412
  • Year-over-year home appreciation: 5.5%

For those considering a move to Prescott, they’ll find everything from brand-new construction to historic homes available to live in.

Mayor Harry Oberg, in his “State of the City” address to the Prescott Chamber of Commerce on January 26, 2017 noted that single-family building permits are up over 250% from five years ago. The 332 single-family permits issued in 2016 had a combined value of more than $106M. In just June, 2016 alone, more building permits were issued - 58 in all - than in the entire year of 2010.

According to the Realtor’s Property Resource, in 2016, not surprisingly, the most new listings were in April - June. From December 2015 - November 2016, there were 5,149 new listings in Yavapai County, up by nearly 100 from the year before.

Home sellers have got to be happy, the sales price is between 97-98% of the listing price. Single-family residences make up an average of 80% of sales; mobile/manufactured homes are at 16% and condos just slightly over 6%.

Homes are selling faster, too. From December 2015 - November 2016, homes sold in an average of 144 days. The previous year, sellers could expect to see their home on the market for an average of almost 180 days.

Homeowners also have a lot to cheer about. From November 2015-November 2016, the price per square foot rose by almost 10%, indicating an increased value in properties.

However, attractive home buying opportunities aren’t all that Sunset Magazine points to in the Prescott area. Ryan cites the outdoor recreation opportunities, such as the Peavine Trail, with visits increasing by 11%.

Prescott is also home to the Whiskey Off Road which entices thousands of amateur and pro mountain biking riders from all over the world with challenging courses and one of the largest purses in the industry. Chloe Woodruff was one of those riders, and in 2013 decided to make Prescott her home base.

“Almost anyone can ride a bike or get out and hike here,” Woodruff told Sunset Magazine. “The terrain is so diverse, and every season there are new trails going in."

Read the Sunset article here:

Lynne LaMaster

Lynne LaMaster is the Founder and Editor of the eNewsAZ Network of websites. She asks a lot of questions! In her spare time, she loves photography, cooking and hanging out with her family.