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2018 Sets Record Price High

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%

*New High

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.

1st Quarter Housing Sales Hit new Price High On Record Volume!

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.

Flagstaff February Housing Sales & Prices Slip

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.