Flagstaff October Housing Prices & Sales Continue Up

October 2017 housing prices and sales continued climbing in the greater Flagstaff region. The median sale price this October came in at $376K up 9% from a year ago. The average price paid per-square-foot was $206 up 8% and the highest since 2007 when the average was $221 psf. There were 119 houses to have sold which is up 13%, making it the busiest October in 13 years. In addition, the sales pace has picked up as well with the average number of days on the market for a house to have sold and closed escrow being 107, which is the fastest pace since 2005. Low mortgage rates are helping power this market. A 30 year fixed rate with 5% down (and real good credit) is still hanging around the 3.75% range. Wishing everyone a terrific Thanksgiving holiday! Until next month here for any & all of your real estate needs.