Flagstaff Real estate market data, AZ provided by Kelly Broaddus of The KeLLy Broaddus Team of REMAX Fine Living

 

Flagstaff  Home Sales Remain Bullish , Prices Up 2%

 3960 Westwood Circle Flagstaff AZ

Winter is fast approaching but October housing sales in the greater Flagstaff region remain brisk. This month's total housing sales is one of the busiest since October 2004 but was unable to keep up with robust September 2015 figures. Total housing sales for the month came in at 95, down from 103 a year ago. The median sale price in October was $338K up 2% from the same period a year ago. Average price per square foot jumped 9% to $181 vs last year. Inventory of homes for sale remain below the 6 months supply necessary for a normal market. This contributed to rising home prices in the the Flagstaff region.

Home Sellers: If you are still debating on selling you home this year, it might be the right time to move on and start living the life you desire. Inventory level is down after peaking in July and buyers are looking for their dream home.

Home Buyers:  Mortgage rates have moved up 1/8th of a point over the last month to 3.75% for a 30 year fixed. You might have missed out on the lowest rate ever offered, but it is still a better interest rate compared to your older brother's or sister's ten years ago; a lower rate than your parents did twenty years ago and a better rate than your grandparents from forty years ago.

“As long as solid job creation continues, a gradual easing of credit standards even with moderately higher mortgage rates should support steady demand"
-Lawrence Yun, NAR’s chief economist.
 
Happy Thanksgiving

Have a Happy Thanksgiving holiday! Thank you for choosing us. We are always happy to answer your Flagstaff/Sedona real estate questions. Contact Kelly 888-446-5602 or email kellybroaddus@remax.net. Watch happy client testimonials on our youtube channel. View the complete October 2015 Flagstaff Real Estate Market Report .

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