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.