Flagstaff Real Estate Market Data, AZ Provided by The Kelly Broaddus Team of eXp Realty / by Joselyn Uy
Flagstaff Housing Report in March 2017
Sales price hit new high
Q1 2017: The median sale price for a house sold in the greater Flagstaff area has hit a new quarterly high of $376,500 up 7% from the same period last year. The previous first quarter high was in 2007 when the median sale price was $368K. In that quarter there were 184 total sales.
March 2017: The month of March also saw a new monthly high with a median sale price of $389,900 up 9% from last March and topping the previous March high from 2006 0f $370K.
Home Sales Slide
This quarter there were 176 sales. March housing sales totaled 75 down by 4 from last year and down from the record of 90 sales in 2004 when prices were much lower.
Advice to Flagstaff HomeBuyers
- Get pre approved and get a lock on your mortgage while rates are still low. There is a good chance that mortage rates could go up to 5% next year should the Federal reserve raise rates 2 more times this year. Need referral to a reputable mortgage professional? Contact us at 88.446.5602
See all houses available for purchase in the Flagstaff area on the Northern Arizona MLS: http://ow.ly/428x30bd7P3.
- Currently there are over 500+ Flagstaff homes for sale on the MLS. 234 homes are priced at under $400K and only 36 of those are listed below $200K. Investors and first time buyers looking for a single family home in Flagstaff under 200K have less than 10 properties to choose from. A bigger budget of $300k will give you more homes to choose from.
Advice to Homeowners
Sell now! Inventory is lower vs last year. Flagstaff has a housing shortage and falling mortgage rates are helping fuel the demand.
Find Out How Much Your Home Is Worth
Online estimates do not include recent upgrades that add value to you home. Take the next step! Contact us for a personalized evaluation to find out how much your home is really worth. Call Kelly at 888.446.5602
March 2017 Flagstaff Marketwatch Summary
We are still a buyer's market on homes priced $600,000 and above and a seller's market for homes priced under $500,000.
Total Home Sales- 75, down 5% vs last year
Median Home Price- $389,900, up 9% vs last year
Price Of The Most Expensive Flagstaff Home in Sold in March 2017: $877,000 - Situated southeast of downtown Flagstaff, this single family home in Lakeside Acres topped this month's list. This is the first time a home in this neighborhood
Price of the Most Affordable Home Flagstaff Home Sold in March 2017: $69,000- This lot with a mobile home is one of our listings. Located Kachina Village, this land received multiple offers, sold over list price and closed in 6 weeks!
Longest Number of Days on Market: 395 - Some homes get sold even before they hit the market. This tri level home in Continental Country Club was on the MLS for one year and one month before it sold in March 2017.
Days on market indicates the period of time when a property goes active on the MLS to when it goes under contract. National average days on market for luxury homes in March 2017 hit 176 days. See the March 2017 Luxury Market Report.
We are your Flagstaff home experts! Please contact us at 888.446.5602 or email kelly.broaddus@exprealty.com if you are looking to buy or sell in Flagstaff/Sedona and surrounding areas.
Download the full Flagstaff Market Report here
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