Both housing prices and sales in the greater Flagstaff region hit new highs for the first half of 2018. The median sale price for the first six months came in at $385K up 5% from the same period last year. The previous high of $376K was set back in 2006. The average price paid per-square-foot was $216. There were a total of 561 houses sold which is up 17% from2017. Here are the numbers for June and the 2nd quarter as well.
|2nd ¼ 2018
|1st ½ 2018
Mortgage rates are holding steady at around 4.375% for a 30-year fixed. Inventory levels are up overall but remain thin in the lower price ranges. Until next month, here for any & all of your real estate needs.
November housing prices in the greater Flagstaff region rose 3% from the same period a year ago. The median sales price came in at $368K. This is the second highest November since 2006 when the median sales price was $379K. The average price paid per-square-foot was $205 up 6% from a year ago. The number of house sales totaled 78 a 9% decline reflecting in part, the uncertainty regarding the mortgage interest deduction in the new tax bill. As of today it looks like a compromise has been reached putting a cap of $750K on the total interest deduction for new mortgages. Mortgage rates continue in the 3.75% range for a 30 year fixed with 5% down and very good credit. Until next month, here for any & all of your real estate needs. We’ll be looking at full 2017 numbers then and spoiler alert, it’s looking like both sales and prices are going to be higher for the year. Wishing everyone very happy holidays.