Flagstaff home sales in November were strong compared with last year and steady compared with recent months. The median price of the single-family homes sold in the Flagstaff metro area in November was $352,500, which is 13.7% higher than the median in November 2013. The number of Flagstaff single-family homes sold in November (68) was the lowest since last April, but not out of line with seasonal expectations; and that’s 15% higher than the number sold in November 2013.
Those percentages look pretty spectacular, but a significant part of the reason is that we’re looking at relatively low numbers. The first chart shows that there hasn’t been a huge improvement in sales since 2009 – a healthy improvement, but we’re not in bubble-land. The chart also shows that the increase in price is as much due to the reduction in inventory for sale as it is to the increased number of buyers. The second chart shows sales by price range. For those who follow this blog monthly, you’ll know that the number of buyers in the higher price ranges has increased, and that’s brought up the median price as well.
The average price per square foot for November 2013 single-family home sales in Flagstaff was $189. The average size of Flagstaff homes sold was 2218 square feet.
There were very few – just 8 – Flagstaff townhomes sold in November. Part of that is lack of inventory. Many more townhomes will be available in the Spring. The median price was $285,000.
To buy or sell any Flagstaff home, contact my fine colleagues with the Flagstaff Elite Team at RE/MAX Peak Properties.
