Flagstaff Housing Sales Hit Record

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.