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Flagstaff Housing Market

(Published on - 7/16/2019 2:31:53 PM)

What’s the Housing Market like in Flagstaff these days?

Here are a few detailed facts on our current housing market, through the first half of 2019:

Overall, the numbers are down. So far for the first 6 months of the year, we have sold 16.2% fewer homes in the General Flagstaff area.

If we break it down, Manufactured homes lead the pack and are the only category of home sales that have increased so far this year, with a 6% increase in number sold.  The rest of the categories have decreased in the numbers sold, with Single Family Homes sales for the year down -15.2%.

Median Home Prices are up moderately at +2.2%, with Single Family Homes leading the pack at a +7.1%

Active homes coming to the market for the year are -6.8% under last year, with all categories of homes in the negative.

A little further down in the stats, you will see home sales grouped by price ranges.  This report is for all homes between Williams, through Flagstaff, to Winslow, and for all categories of homes.

You will see that we had -20% fewer Homes Sold under $499,999.  Homes sold in the mid-price range from $500,000 to under $1 million are slightly down -3% or less, and numbers for homes sold over that $1 million mark are down a whopping 32%.

Appraiser Home Values

Another interesting stat:

The Median List Price for the General Flagstaff area for all home types was $415,000, up 6.4% from last year. The Median Sold Price as noted below is $380,130. That is little over an 8% difference. The buyers are the ones that set the trends in pricing, and so far this year, they are saying that listing prices are almost 10% too high.

This is also shown in the number of Days on Market, which has risen by 5% over the same period last year.

 

Flagstaff Housing Market

 

All Home Sales (86001, 86004, 86005)

Year to Date thru July 9, 2019

Single Family, Townhome, Condo and Manufactured

  • Number of Homes Sold

640

-16.2%

  • Median Price

$380,130

+2.2%

  • New Homes to the market

1115

-6.8%

 

Broken down

Single Family,

  • Number of Homes Sold

423

-15.2%

  • Median Price

$427,500

+7.1%

  • New Homes to the market

801

-1.8%

  • Percent of Homes Sold to total

 

66.1%

 

Townhomes,

  • Number of Homes Sold

98

-32.9%

  • Median Price

$336,000

-4.8%

  • New Homes to the market

164

-18.4%

  • Percent of Homes Sold to total

 

15.3%

 

Condos,

  • Number of Homes Sold

66

-4.3%

  • Median Price

$217,000

+1.0%

  • New Homes to the market

89

-13.6%

  • Percent of Homes Sold to total

 

10.3%

 

Manufactured,

  • Number of Homes Sold

53

+6.0%

  • Median Price

$253,000

+5.9%

  • New Homes to the market

61

-19.7%

  • Percent of Homes Sold to total

 

8.3%

 

All type of Homes in all areas, from Williams thru Flagstaff to Winslow

  • Percent of Homes sold up to $299,999, Year to date
    •    -16.1% fewer Homes Sold
    •    -19.3% fewer Homes have come to the market this year
  • Percent of Homes sold from $300,000 to $499,999, Year to date
    •    -18.3% fewer Homes Sold
    •    +2% more Homes have come to the market this year
  • Percent of Homes sold from $500,000 to $699,999, Year to date
    •    -1.0% few Homes Sold
    •    -1.0% fewer Homes have come to the market this year
  • Percent of Homes sold from $700,000 to $999,999, Year to date
    •    -3.0% fewer Homes Sold
    •    +3.0% more Homes have come to the market this year
  • Percent of Homes sold from $1,000,000 and up Year to date
    •    -31.8% fewer Homes Sold
    •    -3.5% fewer Homes have come to the market this year

 

 

About the Author:

Realty Executives of Flagstaff
Jeff Ross
REALTOR®
Realty Executives of Flagstaff
mobile: (928) 225-3511
email: jeff@allflagstaffhomes.com 
website: www.allflagstaffhomes.com 
15 E Cherry Ave
Flagstaff, AZ 86001
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