Tag Archives: Real Estate

2018 Sets Record Price High

Hello Everyone& Happy New Year-2018 was a record setting year with housing prices hitting new highs for the year, the 4thquarter and for the month of December. For calendar 2018 the median sale price of a house sold in the greater Flagstaff area was $385K beating the old high of $379K set back in 2006. There were a total of 1154 houses sold, off slightly from 2017.  Here are all of the numbers.

Time Period SFR Sales Year/Year+-   Median $ Year/Year+-
Dec 2018 67       -28%     $379K*       +1%
4th1/4 2018  263       -10%     $390K*      +5%
  2018 Year   1154       -1%     $385K*      +3%

*New High

What stands out most, besides the new price highs of course are the sales numbers. 2018 was off 1% but the quarter and especially the monthly sales number tanked. If that trend continues, prices should pull back some. Mortgage rates dropped 1/8th of a point from last month. The 30-year fixed rate is currently at 4.25% with no points. Until next month here for any & all of your real estate needs.

Flagstaff November Housing Sales & Prices Move Higher

November 2018 housing prices in the greater Flagstaff region climb to a new monthly high. The median sale price was $392K up 7% from November ‘17 and easily surpassing the old November high of $379K set in 2006. The average price paid per-square-foot was $225 up 10% from a year ago, tying the high set back in November ‘06. November housing sales rose 8% totaling 84 SFR’s. So far, year-to-date sales are slightly ahead of last year as are prices. I think we’ll probably finish higher for the year on both due to interest rates declining bigly. In spite of the latest Federal Reserve hike, a 30-year fixed rate mortgage is now at 4.375% down ¼ of a point from just a month ago, a very nice Christmas present! Until next month, here for any & all of your real estate needs. Wishing everyone wonderful holidays and a very Happy New Year!

Flagstaff October Housing Prices Hit New Monthly Price High!

October housing prices in the greater Flagstaff region rose 3.5% with the median sale price coming in at $390K which is a record high for the month of October. The previous high was set back in October of 2006 when the median sale price was $387K. Housing sales however declined for the fourth consecutive month. This October there were 109 sales, off 11% from the same month a year ago. After starting off red hot in the first half of the year, housing sales for the second half of the year are down 15% reflecting the dramatic rise in mortgage rates which hit a 7-year high. Rates have now pulled back a little bit, with a 30-year fixed rate at 4.625% with no points. Happy Thanksgiving everyone. Until next month here for any & all of your real estate needs.