February Flagstaff home price and sales continue its upward trajectory. The median sales price of a house, sold in the greater Flagstaff region was $270K up 1% from a year ago. However if you look at the average price paid per-square-foot, that was up 16% to $161. 30 year mortgages continued to hold steady at 4.125%.
What is Selling?
Total house sales are up 19% from last February and the highest number in 10 years. Of those, 6 were distressed sales, down from 12 a year ago. Flagstaff real estate priced in the $200K - $300K price range contains the highest number of sold listings. Properties in the $1.2M - $1.3M price range have sold quickest over the last six months.
Slowing Price Gains
Double digit price gains have been the norm but February was basically flat in terms of year-over-year price gains. Looking into last year's month-to-month numbers, you’ll see that after hitting a median sale price high last July of $309K we’ve dropped in price every month to the point that we are now down 13% from that top. House sales data traditionally drop during winter. We have a lot to look forward to during spring and summer when the real estate market heat up.
Please keep us in mind when buying or selling a home in Flagstaff. We are always available for all your real estate needs and referrals. Check out our happy client testimonials. Call us at 888-446-5602 or drop by at our office at RE/MAX Fine Living 3955 E. Lake Mary Road, Flagstaff AZ .
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