August 2015 experienced fewer Flagstaff home sales than fast-paced July and showed no change at all in the number of sales from August 2014. The median price of the Flagstaff homes sold in August was up 5% year-to-year although the price-per-square-foot was up only 2.2%. Thus, larger homes sold, inventory remained tight, and home buyers continue to face a tough market in Flagstaff. The median price of a single-family home sold in Flagstaff in August was $353,000, nearly unchanged from the July median of $352,750.
Here are the numbers:
NOTE: THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS THAT HAVE FLAGSTAFF MAILING ADDRESSES) 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).
Flagstaff townhome sales were also down slightly in August compared with July (19 vs. 24 units); however, sales were up slightly from August 2014 (19 vs. 16). The median price of a townhome sold in Flagstaff in August was $265,000, which is up significantly from the $225,000 median in August 2014. The change reflects the differing quality of townhome inventory as well as a shortage of townhomes relative to demand.
To buy or sell a Flagstaff home, you need more than the general advice in this blog. Contact The Elite Team at RE/MAX Peak Properties — give us a call at 928-714-0001 for experienced, professional advice on purchasing or selling a home in Flagstaff.