Prescott housing analysis reveals affordability issues amid small home sales

In the heart of Prescott, city officials gathered to discuss pressing housing issues that resonate deeply with the community. As the meeting unfolded, the stark realities of the local real estate market came to light, revealing challenges that many residents face in finding affordable homes.

Last year, a total of 107 homes sold for under $300,000, a figure that highlights the ongoing struggle for affordability in the area. Among these, 28 were condominium townhomes, while 51 were manufactured homes. Notably, 26 of these manufactured homes were age-restricted, a factor that limits options for younger residents seeking to settle in Prescott. This restriction raises concerns about the accessibility of housing for families and young professionals, who often find themselves priced out of the market.

The average size of these homes was around 1,000 square feet, indicating a trend towards smaller living spaces that may not accommodate larger families. Many of these homes serve as recreational retreats or second homes, particularly in the wooded areas surrounding Prescott, which further complicates the affordability landscape.

As of this year, 2025, the trend continues with 47 homes closed so far, including 11 single-family detached homes, 11 condominium townhomes, and 25 manufactured homes. Among these, seven were age-restricted, underscoring the ongoing challenges for younger demographics in the housing market.

The discussions at the meeting underscored a critical need for more diverse and affordable housing options in Prescott. As city officials and community members reflect on these statistics, the urgency to address housing affordability becomes increasingly clear, shaping the future of Prescott and its residents.