Flagstaff Real estate market data, AZ provided by Kelly Broaddus of The KeLLy Broaddus Team
of REMAX Fine Living
Home Sales Up 3%, Prices Flat
Compared to April 2015's spectacular 10% growth vs April 2014, Flagstaff housing sales in May 2015 grew by 3% vs the same period last year. It's still the busiest May sales since 2004 with a total of 109 housing units sold. Prices remained flat with a median sale price of $305K.
Looking at the first 5 months of 2015 vs. the same period a year ago, the median sale price jumped 6% to $315K and total sales increased 15% to 382. However during this same period, sales of houses priced at $300K and below virtually remained the same. In 2014 there were 171 sales, in 2015 there were 172 sales and buyers were paying more in order to get less. The average price paid per-square-foot for these sub $300K houses in 2015 was $161 vs. $150 a year ago and the average square footage in 2015 was 1481 and in 2014 it was 1536.
Flagstaff Listing Inventory
Listings Under $300K
Currently there are only 111 sub $300K houses for sale that aren’t already under contract which represents barely a 3 month supply. With mortgage rates rising a quarter of points in the last month to 3.875% most buyers will be paying even more.
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Northern AZ Home Sales
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