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% |
May housing sales in the greater Flagstaff region set a sales record for the month with 119 sales which is up 6% from the same month last year. The median sales price came in at $400K tying the May record set back in 2007. This time however sales are almost double what they were back then. This May the average price paid per-square-foot was $225 which was not the record. That was $232psf set in May of ’06. Inventory levels have risen but not quite to the levels of a year ago. Currently there are 424 houses available for purchase but only a third of those are priced at $400K or below. Mortgage rates are down an 1/8th of a point from a month ago with a 30-year fixed rate available at 3.50% with no points. Until next month, here for any & all of your real estate needs.
April housing prices in the greater Flagstaff region hit another new high. This April the median sale price came in at $409K which is up 5% from April ’18. The average price paid per-square-foot was $225 also a record. Total sales for the month numbered 97 making this April the second busiest on record. Inventory is increasing as expected this time of year and mortgage rates are now at 3.875% for a 30-year fixed rate which is down an 1/8th of a point from last month. By all accounts the second quarter of the year is starting off strong. Until next month, here for any & all of your real estate needs.