Realty Executives of Flagstaff

Kimberlie Geile-Gonzalez

REALTOR®, GRI, SRES, rCRMS, ABR, ePro (928) 699-9750

Kimberlie Geile-Gonzalez

Blog

March Market Update

(Published on - 4/13/2022 10:08:53 PM)

Happy Spring! With a change of season, you may be wondering how our Flagstaff housing market is moving. The statistics below reflect available properties and sales for March 1, 2022 through March 23, 2022. 

Active homes for sale: 

  • Condos - 11
  • Manufactured - 5
  • Mobile - 2
  • Single Family - 34
  • Townhouse - 1

Homes sold:

  • Condos - 6              Average sales price: $337,130  Median sales price:        $345,695
  • Manufactured - 6    Average sales price: $372,083  Median sales price: $402,250
  • Single Family - 47   Average sales price: $777,579  Median sales price: $710,000
  • Townhouse - 9        Average sales price: $422,000  Median sales price: $455,000

The sold properties spent an average of 43 days on the market. This number reflects the time the listing was taken to the time the sale closed. The average escrow period is still about 30 days. This would mean that most properties had accepted offers within 13 days or less. The average sales price as a percentage of the listing price was 101.2% meaning many houses are selling over the listing price. The short story is that Flagstaff is a seller's market. Many analysts predict housing prices to continue upward. We will have more houses in our inventory as Spring moves into Summer.

All of these things are wonderful news to a seller but don't be discouraged if you may be considering a real estate purchase. Interest rates, although increasing slightly, are still quite low. If you are thinking about upsizing or downsizing, the equity in your current house can go a long way towards a down payment. 

This is really just a small, general taste of what our market is doing. If you'd like more specific information, or if you know someone who would, please let me know. 

Wishing you warm Spring days and many blessings, 

Kim


Happy 2022! A Look Back at the Market

(Published on - 2/1/2022 9:02:06 PM)

Happy New Year!

I hope you had a wonderful holiday season filled with many blessed memories! 

The beginning of the new year is a great time to do some reflection. Below are a few interesting statistics comparing our current Flagstaff real estate market to the market in 2011 and 2019. These numbers reflect all types of residential properties (e.g. single family, condo, townhouse, and manufactured home). They do not include properties in the gated communities. 

Over the past 10 years:

  • Overall median home price increased from $246,000 to $595,000.
  • The number of homes sold increased 54%.
  • The number of new listings increased 17%.

Over the last 2 years:

  • 12.9% more listings were sold.
  • There was a 40% increase in median home prices from $378,000 to $530,000.
  • There was a 62% increase in dollar volume from $537million to $870million.
  • All of this with only 4% more listings from 2019 to 2021.
  • The median list price was $515,000 and the median sold price $530,000. This is a 3% increase.

There are other statistics we could discuss but these were the most striking to me. All of the experts predict another banner year in home sales and purchases. Even with a slight increase in interest rates, this a good time to buy and an even better time to sell.

Please don't hesitate to reach out with questions. Feel free to share this information with those you care about.

Wishing you all the best in 2022!

Kim

 

 

 
Kimberlie Geile-Gonzalez, Realtor, GRI, SRES, rCRMS, ABR
Realty Executives of Flagstaff
15 E Cherry Ave.
Flagstaff, AZ 86001
Office: 928-773-9300
Direct: 928-699-9750

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