January housing sales and prices in the greater Flagstaff region set new records. There were 78 sales this January which more than doubled last Jan’s total of 37, making January of 2020 the busiest Jan ever. Prices for the month rose 6% with the median sale price coming in at $413K also a new monthly record. Two factors affecting sales are weather and low mortgage rates. When the weather’s nice people can get out and look at properties and It hasn’t snowed up here in weeks. Also, 30-year fixed rate mortgages remain under 3.5% which help fuel the sales and price numbers. Until next month here for any and all of your real estate needs.
2019 is in the books and it was a record setting year. The median sale price for a house in the greater Flagstaff region hit a record high of $420K, up 9% from 2018. The average price paid per-square-foot was $226, also a new record. There were a total of 1210 sales which ties the record from 2005. I expect another couple of sales to eventually be added to that figure thus making 2019 the busiest year for real estate sales ever. Here’s the breakdown:
|Time Period||SFR Sales||Yr/Yr+-||Median $||Yr/Yr+-|
|4th ¼ 19||319*||+20%||$419K*||+7%|
Helping power this market are interest rates. A 30-year fixed rate mortgage is now around 3.5%. A year ago it was at 4.25%. Happy New Year and until next month. Here for any & all of your real estate needs.
November housing sales in the greater Flagstaff region rose 29% to hit a new monthly high. There were 108 sales this November versus 84 a year ago. November housing prices rose 8% from a year ago which is also a new high. This November the median sale price was $422K and last November it was $392K. Year-to-date, through November prices are up 10% and sales are running slightly ahead of last year. The average price paid per-square-foot was $226 this November which is also a new monthly high. November was a very strong month. Mortgage rates remain unchanged from last month with a 30-year fixed rate loan at 3.625% which should certainly continue to help the market going forward. Until next month here for any & all of your real estate needs.