It's fall in Flagstaff and home sales are on a roll. September median sale price in the greater Flagstaff region hit another yearly high coming in at $334K up from the August median sale of $325K. The average price paid per-square-foot was $176 which is up 9% from last September. This is great news for home sellers.
What's up/down?
- Inventory level for listing below $500k is declining, with less than 7 months of supply.
- Inventory level is still skyhigh for listings above $500k, with over a two year supply on the market
- Mortgage rates dropped from last month's 4% to 3.75% for a 30 year fixed with no points.
- Sales of homes priced over $500,000 increased 110% from September 2013.
What is selling?
Properties in the $200K - $300K price range have sold quickest over the last six months. Flagstaff homes for sale in the over $500K price range are staying a bit longer on the market pulling the average days on market (DOM) up to 128 days, the longest in three months.
Home values are up! Check your home value at http://www.northernarizonafinehomes.com/cma/property-valuation/. When you are ready to buy or sell, give us a call 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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