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Eric Davis
Jessica Garard
Sara Holloway

The Elite Team at RE/MAX Peak Properties
123 W. Birch Ave. Suite 105
Flagstaff, AZ 86001
Phone: 928 714-0001
Email: info@bestflagstaffhomes.com

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Flagstaff Homes Blog: Flagstaff home sales report

Monthly Flagstaff Homes Sales Report – October 2018 Flagstaff Homes Sales

Happy Thanksgiving to all our family, friends and clients. We have compiled the sales numbers for October and wanted to share them with you along with the national sales numbers that just came in from the National Association of REALTORS® (NAR). The Flagstaff area saw 91 single family homes sold during the month of October, down from the 100 sold in October, 2017. The 91 sold this month was up however from September of this year when there were only 81 homes sold. Our median price for single family homes was $408,000 for October.

With just over one month to go in 2018 we are predicting a reduction in total sales of single-family homes compared to 2017. All things considered, overall, it will likely be a great year for our Flagstaff market. Inventory levels in the $500,000 and below ranges are still well below normal. We saw a dip in inventory in October compared to September. Many of the homes that did not sell were taken off the market or rented out. Historically, we see a reduction in inventory during the winter months. As we have been saying for months, inventory and affordability will continue to limit our market. There are no indications this is changing as we close out 2018 and head into the first quarter of 2019.

NAR just released the national numbers for October. For the first time in six months, total sales volume (all home types) increased 1.4% seasonally adjusted from September. The results show we are still down 5.1% when comparing sales to this time last year. Nationwide there has been an increase in inventory which Lawrence Yung, Chief Economist at NAR says “brought more buyers back to the market.”  Median price gains for all types of homes nationwide have increased year over year for the 80th consecutive month. The median price came in at $255,400. See the Existing homes sales report for more insight from NAR.

Single Family Flagstaff Home Sales – October 2018

NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

 

Monthly Flagstaff Homes Sales Report – September 2018 Flagstaff Homes Sales

   For the third consecutive month the sales volume is down for single family homes in the Flagstaff area compared to the sales from the same months in 2017. We had 81 sales this past September, down significantly from the 112 sales in September of 2017. Nationwide sales are down, and most markets are experiencing a similar theme. High sales prices, rising interest rates, and low available inventory weigh heavily on buyers decision making process. Buyers are becoming increasingly concerned about the affordability of owning a home. The nationwide sales report by chief economist Lawrence Yun with the National Association of REALTOR®s gives additional details on the real estate market.

   The median sale prices for single family homes sold in September was $394,000, down from the $410,000 we saw in September 2017. We are working on sales numbers for the 3rd quarter and will publish those in our newsletter due out the end of October. Please contact us if you are not currently receiving our newsletter. We can email or send you a copy in the mail.

   Below you will see the sales numbers for the month of September. One interesting note, there were 6 homes sold over $1,000,000 with 12 more pending sales. There were also 27 town homes and 13 condos sold this September.  

 Single Family Flagstaff Home Sales – September 2018

NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

Monthly Flagstaff Homes Sales Report – August 2018 Flagstaff Homes Sales

For the second straight month, single family homes sales volume in the Flagstaff area has declined when compared to a year ago. There were 91 homes sold in August of this year, down from the 105 sold in August 2017. Affordability continues be a struggle for buyers as homes values and interest rates continue to rise. Add the limited inventory levels into the mix and it makes sense why sales are slowing.

Nationwide the housing market is very similar. The National Association of REALTOR®s released the statistics for August. Overall sales are down 1.5% from a year ago. The monthly sales report from NAR gives an insight into the national trends. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 4.55 percent in August from 4.53 percent in July. The average commitment rate for all of 2017 was 3.99 percent.

Interesting times and we will continue to keep an eye on the numbers. See below for the Flagstaff area sales.

Single Family Flagstaff Home Sales – August 2018

NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

Monthly Flagstaff Homes Sales Report – June 2018 Flagstaff Homes Sales

Flagstaff home sales showed no signs of slowing down during the month of June. There were 123 single family homes sold during the month. We continue to struggle with inventory levels, causing prices to rise. The median sales price for single family homes for the month of June was $403,000.

We will have our quarterly newsletter out soon and have additional numbers to share. Additionally, here  is a video of Lawrence Yun, chief economist at the National Association of REALTOR®s discussing the national housing market.  Nationally sales prices are up and total sales are down. Limited inventory continues to drive prices up.

Take a look at the numbers below for our local Flagstaff area market.

Single Family Flagstaff Home Sales – June 2018

NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

Monthly Flagstaff Homes Sales Report – May 2018 Flagstaff Homes Sales

Hot weather and hot sales are the current trends in Flagstaff. There were 89 single family homes sold in the Flagstaff area in the month of May. Inventory levels remain historically low, especially below the $500,000 mark. Our weather will undoubtedly cool long before homes sales do. There were 10 condos sold and 29 townhomes sold this May.

This month, we will let the numbers speak. Take a look below.

Single Family Flagstaff Home Sales – May 2018

NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

 

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