As 2015 came to a close, sales remained strong through December. The median price for single family homes in December jumped to $360,336 compared to $336,000 in December of 2015. 22 sales over the $400,000 price point helped trigger the jump. There were 28 homes sold in the $300,000-400,000 range depleting the supply level in this price range below 1.6 months (hint for any sellers on the fence in this price range). We also saw strong sales in December for homes over the $400,000 price, with two selling over the $1,000,000. As we enter into 2016 we anticipate another strong year for the Flagstaff Real Estate market. Overall, low inventory levels and below average interest rates should continue to drive sales.
Here are the numbers for December 2016 and how they compared to what sold this time last year.
Single Family Flagstaff Home Sales – December 2015
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).
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 or send an email to firstname.lastname@example.org for experienced, professional advice on purchasing or selling a home in Flagstaff.