Hello Everyone& Happy New Year-2018 was a record setting year with housing prices hitting new highs for the year, the 4thquarter and for the month of December. For calendar 2018 the median sale price of a house sold in the greater Flagstaff area was $385K beating the old high of $379K set back in 2006. There were a total of 1154 houses sold, off slightly from 2017. Here are all of the numbers.
|Time Period || SFR Sales || Year/Year+- || Median $ || Year/Year+- |
|Dec 2018 || 67 || -28% || $379K* || +1% |
| 4th1/4 2018 || 263 || -10% || $390K* || +5% |
| 2018 Year || 1154 || -1% || $385K* || +3% |
What stands out most, besides the new price highs of course are the sales numbers. 2018 was off 1% but the quarter and especially the monthly sales number tanked. If that trend continues, prices should pull back some. Mortgage rates dropped 1/8th of a point from last month. The 30-year fixed rate is currently at 4.25% with no points. Until next month here for any & all of your real estate needs.
The first quarter of 2018 saw housing prices in the greater Flagstaff region hit a new quarterly high on record sales volume. The median sales price for the first quarter came in at $379K, up 1% from a year ago when the median sales price was $375K. The average price paid per-square-foot was $213 up 12% from a year ago. There were a total of 210 sales up 19% from a year ago and the most ever for the first quarter. Housing prices for the month of March also hit a new monthly high coming in at $391K also up 1% from last March when the median sales price was $389K. There were a total of 91 sales, beating the March record set back in 2004. Mortgage rates are now at 4.375% for a 30 year fixed rate. Until next month here for any & all of your real estate needs.
February Housing sales slowed as winter finally returned to the mountains. This February there were a total of 46 sales in the greater Flagstaff region, a 10% drop from a year ago. Prices declined 6% with the median sale price coming in for the month at $361,250. The average price paid per-square-foot however rose to $214 which represents a new February high. February is traditionally the slowest month of the year and we sometimes see statistical anomalies. Mortgage rates have taken a little break from their rapid run up. Until next month, here for any & all of your real estate needs.