4th Quarter Sales Report
For Flagstaff in 2022
Total Sales for Q4 2022
Sales volume was down year-over-year in the 4th quarter of 2022. There were 153 single-family homes sold in 2022, well off the 289 sold in Q4 last year and the 331 in 2020. Condos fared well this quarter as new construction provided some much-needed additional inventory.
Median Sales Price in Flagstaff in Q4 2022
It gets interesting when looking at the median sales price in Q4 for single-family homes. Coming in at $685,000, it was only $10,000 more than the 4th quarter of 2021. Perhaps even more interesting is that it was $30,000 below the $715,000 we noted for the entire year of 2022. Should this trend continue, prices may just flatten or perhaps decrease in 2023. It is too early to tell and there are too many other factors that might change the market trends, but it’s something we will monitor throughout 2023.
Average Price per Square Foot for Flagstaff Homes in Q4 2022
The average price per sq. foot for the quarter came in at $364.31. This is similar to the median sales price where it was above the same quarter last year, but below the yearly average.
Average Sales Price for Flagstaff Homes in Q4 2022
The average sales price for this quarter followed along the lines of everything we have reported earlier. The $842,019 for the quarter was also below the yearly average of $851,101.
Three months, or one quarter, is a short time period to make predictions or note changes in the market. It is definitely something we will watch and compare to the first quarter of 2023. For now, our focus will be on other market conditions such as active listings coming on the market and pending home sales. We will also be keeping a keen eye on interest rates and consumer confidence. Keep an eye out for our monthly marketing email updates and, if you are not receiving them, send us a request to [email protected] or call us at 928-714-0001.
GET TO KNOW BEST FLAGSTAFF HOMES REALTY
We think it’s fun to learn about each other with fun “About Us” questions so we wanted to continue to share them with you. This time around…..
What were your favorite moments of 2022?
My daughter’s wedding. We were so happy to welcome Ricardo into our family & the event truly lived up to their incredible love story!
I had many great moments in 2022, but a highlight was when my brother, sister-in-law, and my nieces joined us in Flagstaff for the Fourth of July! Lots of great memories made.
Attending a Mets game (against the D-Backs) in April with my family!
Traveling again and exploring a new country, Portugal, through an amazing bicycle trip with my husband Paul and 10 of our friends! So many favorite moments all at once!
Spending the week in Disney World with my family after the National Association of REALTORS® Conference.
Visiting Japan with my wife and oldest son before he left for the University of Arizona!
Exploring the many scenic and less traveled highways of Arizona and Southern Utah. Oatman, Bisbee, Morenci, Lake Havasu, Escalante, Moab…3000 miles in 8 days.
Finally getting married. Because of the pandemic, we made the tough decision in January of 2021 to postpone our wedding one year. After our long engagement, we finally tied the knot. It was the most amazing day of my life.
Running Imogene Pass Race with my husband and best friend! Having all our kids and family cheering us on at the finish line was very special.
Family adventures in Utah, Colorado and Arizona.