Published October 6, 2026 in Market Update

Higher rates did not stop Prescott buyers from writing offers

By Odessa Keilman - The Prescott Homeowner

Real estate, Prescott (inc Williamson, Groom Creek)

If you have been watching the news, you know rates have been climbing. Realtor.com reported that mortgage rates topped 7% for the first time since January 2025, and CNBC put the average 30-year fixed rate at 7.30% as of September 30, 2026. That is a real headwind. But here in Prescott, serious buyers kept moving.

The Real Estate Data Aggregator counted 472 homes sold across Prescott's three ZIP codes in the three months ending July 31, 2026. That is up 16.5% from the same three months in 2025. More homes sold, even with rates where they were. That tells you something about the buyers who were still out there: they were ready, and they were not waiting.

Nearly 1 in 3 homes went under contract within two weeks

The speed number is the one that surprised me. The Real Estate Data Aggregator found that 32.4% of homes in ZIP 86303 went under contract within two weeks of listing. In ZIP 86301, it was 29.8%. In ZIP 86305, which covers Williamson Valley and the west side, it was 24.9%. Every ZIP was up from a year before. So the buyers who were out there were not browsing. They were deciding fast.

Fewer homes to choose from, and that shaped everything

The Real Estate Data Aggregator counted 721 homes for sale across all three ZIPs combined, down 10.7% from a year before. New listings across the three ZIPs came in at 654, down 3.4% from 2025. Less supply with steady demand is exactly why well-priced homes moved quickly. If your home sat, it was almost always a pricing story.

What each ZIP looked like on price and pace

Prices told three different stories. The Real Estate Data Aggregator put the median sale price in ZIP 86301 at $555,000, down 5.9% from a year before. In ZIP 86303, the median was $585,900, up 3.3%. In ZIP 86305, which includes larger lots and properties out toward Williamson Valley, the median was $715,000, essentially flat at down just 0.4%. One market, three very different readings.

Homes mostly sold close to asking price

The Real Estate Data Aggregator showed sale-to-list ratios between 97.1% and 98.2% across the three ZIPs. That means most sellers gave up 2 cents or less on the dollar. Homes that sold above list were a smaller slice: 8.3% in 86301, 9.4% in 86303, and 10.8% in 86305. Not every home got a bidding war, and that is honest. But sellers who priced well did not have to give much away.

Nationally, the Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Prescott's numbers were mixed around that figure depending on which ZIP you look at. That is why I always say: the ZIP code average is a starting point, not a verdict on your specific home.

What this means if you are thinking about selling

Supply is tighter than it was a year ago. Buyers who are serious are moving fast. But Realtor.com also reported that 20.8% of listings nationally took a price cut in September, the highest share since October 2022. That is a reminder: overpricing still costs you time and money, even in a market where buyers are active. The homes that moved in two weeks were priced right from day one.

What this means if you are thinking about buying

Rates are real. CNBC noted that Mortgage News Daily put the 30-year rate as high as 7.58% on one day in late September. That changes your monthly payment, and you should plan around it. But the data also shows that the homes worth buying in Prescott did not sit around waiting. Being pre-approved and knowing your priorities before you start looking is not optional right now.

One more thing worth saying: these numbers cover whole ZIP codes, and Prescott has a lot of variety inside each one. A home on a quiet street near Courthouse Square reads differently from one down a long road in the pines. A property in Williamson Valley with acreage and a well is a different conversation from a neighborhood home on city water. Your street matters more than the ZIP average. I am always happy to look at your specific address and tell you what the numbers actually say for it.