Single family homes sales in the Flagstaff area for May came in very strong and slightly ahead of May 2015. There were 88 sales compared to 86 in 2015. We have seen a slight increase in the inventory of homes for sale. Many of the homes in the $300,000-$400,000 market are outside the city limits or new construction yet to be built. It remains a market of limited opportunity for buyers in the low-to-mid price range. The market below $300,000 is very slim. May 2015 saw 31 sales under $300,000 versus the 14 sales we had in May this year.
The median price for single family homes in May came in at $372,082, down from $392,981 in April 2016.
The townhome market was very strong in May. There were 28 sales, almost one a day. We also saw 15 condos change ownership during the month.
Here are the numbers for May 2016.
Single Family Flagstaff Home Sales – May 2016
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.