Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Real Estate Advisors Team / by Joselyn Uy
Flagstaff Home Sales & Prices Peak Amidst Tight Inventory
FLAGSTAFF HOME SALES
We are well into the Spring buying season and the market is getting hotter! This March there were a total of 90 sales in the greater Flagstaff region, up 20% from a year ago and tying with the March record set in 2004.
First quarter 2018 home sales in the greater Flagstaff region hit a new quarterly high. There were a total of 209 sales up 18% from a year ago and the most ever for the first quarter. Download the full Flagstaff Market Report here
FLAGSTAFF MEDIAN HOME PRICE
Housing prices for the month of March hit a new monthly high coming in at $391,000, up at almost 1% from last March when the median sales price was $389,900. Supply is still low, and while the prices may not reach the same levels as this time last year, we continue to see healthy price appreciation from the earlier months of this year.
The median sales price for the first quarter came in at $380K, a new record, up 1% from a year ago when the median sales price was $376,500. The average price paid per-square-foot was $213 up 12% from a year ago.
March 2018 Flagstaff Market Watch Summary
Total Home Sales- 90 homes, up 20% vs March 2017.
Median Home Price- $391,000, less than 1% up vs March 2017
Mortgage rates up A 30 year fixed rate mortgage with 5% down and very good credit rose to 4.375%.
Average Days on Market: 48% of homes that closed in March was on the market for less than 60 days. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed. Days on market typically decline closer to the spring and summer buying season.
MARCH 2018 HIGHLIGHTS
Flagstaff Luxury Homes (SOLD)
- $1,475,000 - Surprise! This million dollar mountain retreat situated at the end of a cul-de-sac in the 10 parcel community of Country Club Ridge topped last month's list. Country Club Ridge is in the Lakeside Acres area. A luxury home in the neighborhood was also listed as Flagstaff's priciest home (sold) in March 2017.
- $750,000 New build 3 bedroom luxury townhome with amazing peak views in the Switzer Mesa/Ridge area by Miramonte Homes
AFFORDABLE Flagstaff Homes (SOLD)
- $145,000- This off-grid, partially finished cabin in Whitehorse Park is the most affordable single-family home that sold in March 2018.
- $188,400 - West side of Flagstaff, The Village at University Heights 2 bedroom 805 sq ft 2nd-floor condo
- $222,000 - Northeast side of Flagstaff, 3 bedrooms, 2 bath townhome in the Sunnyside area
- $110,000 - The most affordable mobile home in Flagstaff that sold the previous month was located in the Christmas Tree neighborhood
Flagstaff Home Buyer Advice
If you’re buying, there’s still good news despite the low inventory. March recorded the highest month in sales since 2004. We’d be happy to help you navigate the market to find your home. Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS.
Home Buying Tips Our home buyer's blog will help you plan and prepare for your successful home purchase and avoid headaches and surprises that may arise during the process.
Flagstaff Home Seller Advice
Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise! If you’re selling a home priced below $500,000, it continues to be your market. Homes that are on the market are selling fast and generally at a higher price.
Inventory continues to rise in the luxury & premium home markets which is causing prices to cool. What’s all this mean for you?If you are selling a luxury home, it may take a little more time to find the right buyers. US single-family luxury homes sold 17 days faster in March with median days on market down to 43 days from 60 days in February. See the March 2018 Luxury Market Report.
Home Selling Tips Our blog for home sellers has tons of tips to help sell your home faster and add thousands of dollars to your bottom line. Check it out.
SATISFIED CLIENTS SAY IT ALL. Check out our 5 Star Reviews.
We started the year with 3 real estate agents: Kelly Broaddus, Stephen Broaddus, and Sarah Daulton. Fast forward to March 2018, the Kelly Broaddus Real Estate Advisors Team welcomed 5 new members, all seasoned agents across Northern Arizona. “We are thrilled to welcome these outstanding agents to eXp Realty,” said eXp Realty Flagstaff broker Kelly Broaddus. “With the addition of more top agents on the team, we are poised to provide the best home buying/home selling experience to more clients.”
We are your Flagstaff home experts! Contact us at 888.446.5602 or email email@example.com if you need specific data mentioned in this report. Contact Us
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