2019 is in the books and it was a record setting year. The median sale price for a house in the greater Flagstaff region hit a record high of $420K, up 9% from 2018. The average price paid per-square-foot was $226, also a new record. There were a total of 1210 sales which ties the record from 2005. I expect another couple of sales to eventually be added to that figure thus making 2019 the busiest year for real estate sales ever. Here’s the breakdown:
4th ¼ 19
Helping power this market are interest rates. A 30-year fixed rate mortgage is now around 3.5%. A year ago it was at 4.25%. Happy New Year and until next month. Here for any & all of your real estate needs.
November housing sales in the greater Flagstaff region rose 29% to hit a new monthly high. There were 108 sales this November versus 84 a year ago. November housing prices rose 8% from a year ago which is also a new high. This November the median sale price was $422K and last November it was $392K. Year-to-date, through November prices are up 10% and sales are running slightly ahead of last year. The average price paid per-square-foot was $226 this November which is also a new monthly high. November was a very strong month. Mortgage rates remain unchanged from last month with a 30-year fixed rate loan at 3.625% which should certainly continue to help the market going forward. Until next month here for any & all of your real estate needs.
October housing prices in the greater Flagstaff region hit a new monthly high with the median sale price coming in at $426K which is up 6% from the same month last year. There were a total of 110 sales in October which is down 2% from a year ago. The average price paid per square foot was $232 up 10%. Year to date through October, prices have risen 10% from a year ago. No doubt low mortgage rates are helping drive this market. A 30-year fixed rate mortgage, with no points is at 3.625% which is up an 1/8th of a point from a month ago. Until next month, here for all of your real estate needs.