January housing sales and prices in the greater Flagstaff region set new records. There were 78 sales this January which more than doubled last Jan’s total of 37, making January of 2020 the busiest Jan ever. Prices for the month rose 6% with the median sale price coming in at $413K also a new monthly record. Two factors affecting sales are weather and low mortgage rates. When the weather’s nice people can get out and look at properties and It hasn’t snowed up here in weeks. Also, 30-year fixed rate mortgages remain under 3.5% which help fuel the sales and price numbers. Until next month here for any and all of your real estate needs.
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:
|Time Period||SFR Sales||Yr/Yr+-||Median $||Yr/Yr+-|
|4th ¼ 19||319*||+20%||$419K*||+7%|
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.
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.