May housing sales and prices in the greater Flagstaff region continued to rise. The median sale price came in at $386K which is up 3% from last May. The all-time May record was set in 2007 when the median sale price hit $400K. That’s also the all-time price high for any month. What’s interesting is that in May of 07 the average price paid per-square-foot was $212. This May it was $217. The average square footage of a house sold this May was 2032. They were bigger back in 07 when the average sqft was 2214. Smaller houses seem to be the norm. In Pinnacle Pines for instance, a newer subdivision on the west side, since 2012 when they started building and selling houses, there have been a total of 321 sales reported in our MLS with an average sqft of 1826. For the month, there were a total of 111 sales which is up 9% from a year ago and the most in May since 2004 when there were 117 and the median sales price was a whopping $238K. Inventory levels are rising but still remain thin in some areas and in some price ranges. Mortgage rates have dropped an 1/8th of a point and are now at 4.375% for a 30 year fixed rate. Until next month, here for any & all of your real estate needs.