Flagstaff home sales slowed down in October 2013 as expected during Fall/Winter.
Sales were still up 13 percent versus last year, but with very few homes priced above $400,000 selling. Median home prices dropped 5 percent, the lowest for this year compared to last's. Overall, it had been a good year for Flagstaff.
The median sale price for a house sold in the greater Flagstaff region was $290K down 5% from last October’s sale price of $305K. This is the first time in eleven months that we've had a negative year-over-year price comparison. It’s also the first time since May that the median sale price has been below $300K. However in looking at the price paid per-square-foot, that figure was actually up, $160 psf vs. $158 psf a year ago. Sales rose 13% to a total of 87 houses sold. Of those, only 10 were foreclosures or short sales down from 18 last October.
In sum, the numbers bode well in that it creates a buying opportunity for those looking for a good deal. It appears obvious that the economy is firming. Interest rates are fabulous-mortgage rates seem to be holding steady at around the 4.125% level. The astute buyer shouldn't hesitate to invest in a primary or secondary home if inclined to do so.
Buying a new home? We are committed to providing the best selection of property on and off the MLS, at the best possible price, arming my clients with up to date knowledge of or market place that will help them make confident intelligent decisions.
Thinking of selling your Flagstaff home? We can help you evaluate the right selling price and work together to develop a winning strategy to sell your Flagstaff real estate within the amount of time you need, take a look at our happy customer testimonial for all the convincing needed! 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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Have a wonderful Thanksgiving holiday.
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