Prescott, AZ housing market

In Prescott this month, sellers are aiming high, and the market is making them pay for it. The median asking price is about seven hundred twenty-five thousand dollars, while the typical home value sits around five hundred ninety thousand dollars, down about half a percent from a year ago. That gap explains the rest of the numbers. Roughly a quarter of active listings, about 25.5 percent, have already cut their price. Homes are taking about sixty days to sell, well past the point where a listing still feels fresh. And there are about six hundred homes for sale, with over two hundred new listings hitting the market, so buyers have choices and no reason to chase. None of this means values are falling apart. Prices are basically flat. But it does mean the market is punishing ambition. If you are thinking about selling, the homes that actually move are priced at what buyers will pay, not at what a neighbor hoped to get. Price it right from day one, because the alternative is sixty days of waiting followed by a cut.