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For the month of July 91 single family homes changed ownership in the Flagstaff area.  This is down from 114 in July of last year.  The bulk of the sales this July were under the $500,000 price range accounting for 79 of the 91 sales.  There are currently only 99 homes for sale under $400,000 in Flagstaff and the outlying areas.  This shortage of inventory continues to cause a strain for buyers looking to purchase a home.

The median price for single family homes sales in July was $367,450, down from $386,991 in June.  We had 22 townhome sales in July and 23 condo sales.

For an in-depth look at the current market conditions please see the graph below.

Single Family Flagstaff Home Sales – July 2016

graph

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 info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.