Flagstaff July Housing Prices Climb, Sales Dip

July housing sales in the greater Flagstaff region dropped 12% compared to the same month a year ago. There were a total of 111 houses sold. However, for the first seven months of 2018, sales are actually up 11% compared to last year.  July prices rose 2% with a median sale price of $385K. This is not a new July high, but close. The July record is $392K set twelve years ago in 2006. On a calendar year basis, that was the top of the housing market in Flagstaff. Twelve years later and we are still not quite back yet. Again, looking at the first seven months of the year, prices are up 4% with the median sale price also coming in at $385K. Inventory levels are up overall but not necessarily in all price ranges. If you are looking for a typical 3-bedroom house with 2 baths and a 2-car garage, located within the Flagstaff City limits and you have a budget of $385K, there are only 11 available properties for you to look at currently. Mortgage rates are at 4.375% unchanged from last month. Until next month, here for any & all of your real estate needs.