Flagstaff August Housing Prices Rise 6%

August Housing prices in the greater Flagstaff area rose 6% from a year ago with the median sale price coming in at $404K, setting a new monthly price high for August. It is however, down from July when the median sale price was $446K. The average price paid per-square-foot was $233 which is also a new high and up from July’s psf of $225. Housing sales rose 17% from the same period last year.  There were 134 houses sold in August, the most in 14 years. A big contributor to the strength in our real estate market are mortgage rates which recently hit a 3-year low. Currently a 30-year fixed rate mortgage can be had at 3.5% with no points.  Presently there are 146 houses available for purchase in the Flagstaff City limits with the median asking price at $446K. Until next month here for any & all of your real estate needs.

Flagstaff Housing Prices Hit Another New High

July housing prices in the greater Flagstaff region hit another new high, with the median sale price coming in at $445K. This is up 16% from July ’18. The total housing sales number for the month was 145, up 28% from a year ago. This is the most sales we’ve had in July, in 14 years. In July of 2005 there were 152 sales but back then the median sale price was only $329K. If you do the math, you’ll see that a lot more money was spent this July. The average price paid per-square-foot this July was $224 which is not quite the high, that being $227psf in ’06. Helping boost sales and prices are lower mortgage rates. A 30-year fixed rate mortgage is now at 3.375% with no points. This is down 3/8th of a point from last month. Inventory levels have risen. There are currently 198 houses available for sale within the Flagstaff City limits with the median asking price of $510K. Until next month, here for any & all of your real estate needs.

June Housing Prices in Flagstaff Rise 19%

The first half of the year is in the books and we set price records for the month of June, the 2nd quarter and for the first half of the year.  The sales volume is a little suspect however with all three time periods seeing a drop. Mortgage rates are down an 1/8th of a point from last month with a 30-year fixed rate mortgage at 3.75% with no points. And inventory levels are rising, right on time for the summer selling season.

Time Period SFR Sales Year/Year+-  Median $ Year/Year+-
 June 2019    100       -33%     $460K*     +19%
2nd Qtr ‘19    317       -11%     $420K*     +8%
1st Half ‘19    470       -17%     $415K*     +8%

*New High