Eric Davis
Jessica Garard
Sara Holloway
Tad Moore 
Kelly Kasprzyk
Dave Lembke
Ian Martin

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

Bedrooms
Baths
Min Price
Max Price

Flagstaff Homes Blog: real estate trends

Monthly Flagstaff Homes Sales Report – December 2018 Flagstaff Homes Sales

December 2018 saw a major decline in homes sales when compared to December one year ago. There were 57 homes sold this past December falling well below the 80 sold in December 2017. While these are interesting numbers, when you look at the number of pending home sales it shows a different market. There are currently 105 pending single family homes. December was definitely a slow month for the Flagstaff market but it appears the activity has picked up for the first part of 2019. 

There were 16 condos sold and only 7 townhomes sold in December.   

Nationally, home sales in December were down 10.3% from a year ago. See the press release from National Association of REALTORS® Chief Economist Lawrence Yun. Keep an eye out for our Quarterly newsletter where we break down the quarterly sales and also look at the yearly changes in the market since 2005.

Single Family Flagstaff Home Sales -  December 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 – November 2018 Flagstaff Homes Sales

There were 66 single family homes sales in November in the Flagstaff area. This is up just slightly from the 63 sales in November 2017. Interestingly, there were 9 sales over $1,000,000 in the month of November. This is interesting in that we typically do not see this volume in this price range in any given month. Cannot say it is a trend but it is worth noting. We will run the final numbers for Q4 and the entire 2018 year of the Flagstaff market in the middle of January. We anticipate sales volume to be down for the year compared to 2017.

Nationwide November sales volume was up over October but down compared to November 2017. Click on the press release from Lawrence Yun, Chief Economist with National Association of REALTORS®.  

There were 6 condos and 11 townhomes sold in November.

Single Family Flagstaff Home Sales -  November 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.

National Pending Home Sales Drop 2.6% in October

According to the National Association of Realtors® pending home sales dropped 2.6% in October nationally. The pending sales are a forward-looking indicator to give us an idea of what closed sales will be in the next couple of months. This has been the tenth straight month of annual decreases. NAR chief economist Lawrence Yun believes that the higher interest rates are the main factor. Higher interest rates plus higher prices take a lot of buyers out of the buying pool.

The short-term outlook is very uncertain; however, Yun feels optimistic about the long-term outlook. We saw similar sales numbers in 2000. That being said, interest rates were much higher in 2000 and there are more jobs now. Unemployment numbers continue to go down which is a good sign for the economy.

Locally, in Flagstaff, we are still struggling with low inventory numbers. Click here  to see our blog on Flagstaff’s sales numbers for October.

For more information on National Home Sales and more information from Lawrence Yun click here.

And remember if you would like to know about Flagstaff Market Trends the Elite Team at RE/MAX Peak Properties is always here to help.

 

 

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.

 

Copyright©2018. All Rights Reserved. The content on this Flagstaff Real Estate website is owned exclusively by the EliteTEAM from RE/MAX Peak Properties located in Flagstaff, Arizona.

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu